DFW: After going red hot, office eases off accelerator

​​​​DALLAS-FORT WORTH – The market ended first quarter 2018 with negative 470,212 sf of absorption, mainly due to a sizeable corporate moving into their own building, according to CBRE’s DFW Office 1Q 2018 report.

Currently 20 projects remain in the construction pipeline with pre-lease rate of 57.7 percent, showing a strong demand for new office product coming to market.

Asking rates were dampened slightly for a DFW wide average of $24.25, a decrease of 73 basis points from 4Q 2017.

A combination of corporate consolidations into smaller spaces and newly delivered construction kicked up vacancy rates by 90 basis points to 20.5 percent.

Employment counts remained stout with the DFW economy ranking in the second in the U.S. for its 2.7 percent rate of job growth.​