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PMRG: DFW office market 2Q 2015PMRG: DFW office market 2Q 2015https://www.recenter.tamu.edu/news/newstalk-texas/?Item=3562015-07-16T14:32:00Z2015-07-16T07:50:00Z

DALLAS-FORT WORTH - The DFW metropolitan area has added an astonishing 110,500 jobs in the 12 months ending May 2015, which represents an annual increase of 3.4 percent in employment.

As a result of the job growth, the area’s unemployment rate has dropped 120 basis points to 3.8 percent over the prior 12 months, its lowest point since 2001 and well below the national average of 5.5 percent.

The DFW office market recorded 1,660,522 sf of direct net absorption during second quarter, increasing its year-to-date absorption count to nearly 3.2 million sf — which remains on pace to achieve its best year since 1999.

The office construction pipeline has increased 26 percent within the past year to more than 6.8 million sf — excluding corporate-owned projects — continuing its surge experienced since late 2013.

Largest Submarkets Ranked by Total SF
Submarket Inventory
SF (Total)
Direct SF
Available
Occ. Under
Const.
Class A
Asking Rent
(per SF)
Class B
Asking Rent
(per SF)
Las Colinas 28,577,157 6,286,730 83.1% 466,219 $25.99 $19.96
Dallas CBD 25,593,267 7,434,246 78.7% 450,000 $23.20 $19.13
Quorum / Bent Tree 19,027,091 3,471,217 84.8% 197,740 $26.42 $18.16
East LBJ        15,799,075 4,537,201 74.2% 0 $23.04 $17.26
Upper Tollway/West Plano 15,482,389 2,545,916 87.1% 1,584,399 $29.28 $25.14
Richardson 14,192,088 2,031,121 89.5% 990,000 $22.01 $17.74
Central Expy. 11,687,810 2,389,716 81.7% 0 $26.16 $19.52
Total* 220,613,348 45,794,242 83.3% 6,812,031 $25.56 $18.97


*Includes all DFW submarkets.

For more DFW office market reports, see Dallas-Fort Worth Market Research.

Online news
Dallas-Fort Worth-Arlington
Office
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