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CBRE: DFW Office MarketView 3Q 2014CBRE: DFW Office MarketView 3Q 2014https://www.recenter.tamu.edu/news/newstalk-texas/?Item=27862014-10-15T13:45:00Z2014-10-15T00:00:00Z

DALLAS-FORT WORTH - In third quarter 2014, net absorption throughout the DFW office market continued to trend positively for the 17th consecutive month, according to CBRE’s 3Q 2014 Office MarketView.

Vacancy declined in 3Q 2014 with an 18.2 percent vacancy rate, six months after vacancy dipped below 18 percent for the first time since 2008.

The largest office sale that transacted over the quarter was the purchase of Solana by The Blackstone Group. The Westlake business park is a 14-building campus style property.

An increase in new completions did not slow the pace of new construction starts, as the construction pipeline broke over 7.5 million sf over the quarter, driven by activity in suburban markets.

Below are the six of the 17 submarkets in DFW with the lowest vacancy rates.

DFW Market Snapshot by Vacancy
Market Net
Rentable SF
Total
Vacant
Avg.
Asking
Rent
3Q 2014
Total Net
Absorption
2014 YTD
Total Net
Absorption
North Fort Worth 1,132,767 4.2% $18.80 1,888 -8,340
Preston Center 3,860,096 7.9% $31.37 2,378 -16,934
South Fort Worth 6,843,285 8.3% $19.86 3,019 -19,753
Southwest Dallas 1,665,033 10.4% $15.59 4,056 48,382
Uptown/Turtle Creek 10,353,638 11.4% $32.49 -115,750 -39,704
Lewisville/Denton 4,665,127 13.4% $18.51 20,429 137,090
DallasTotal 183,535,893 18.6% $20.62 1,111,396 2,524,158
Fort Worth Total 35,074,234 16.0% $19.34 280,637 414,891
DFW Total 218,610,127 18.2% $20.41 1,392,033 2,939,049


Source: CBRE Research

For more information on office and other sectors, see DFW Market Data Sources.

CBRE
Dallas-Fort Worth-Arlington
Office
https://www.recenter.tamu.edu/Pages/market-research.aspxRead more at {Source}

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