DFW top market in office leasing

​​​​​DALLAS – Dallas-Fort Worth led the country for net office leasing for the 12 months ending in the third quarter, says a new report by Transwestern. 

With over 4.5 million sf of net leasing, North Texas was just ahead of San Francisco and Denver. 

The metro was second in office space under construction, well behind leader New York, which had 16 million sf under construction, about double DFW. 

According to Ryan Tharp, Transwestern research director in Dallas, the strong economy has contributed to the office market’s momentum despite soft income growth in a tight labor market.

"Real gross domestic product increased at an annualized 3.5 percent, according to first estimat​es, and personal consumption contributed 2.7 percent to that rate," Tharp said. "Because inflation has remained in line with the Federal Reserve’s target of 2 percent, consumer and business confidence should keep the office market healthy well into 2019."

Nationally, absorption reached 22.7 million sf, vacancy remained stable at 10.1 percent, and asking rents increased by 4 percent, annually.​