Great expectations for DFW real estate

DALLAS-FORT WORTH – Real estate activity in DFW is expected to continue to outpace other major metropolitan areas in the United States in 2014.

Dallas’ vacancy rate continued to drop in fourth quarter 2013 to 18 percent by two-tenths of a percentage point from the previous quarter, according to preliminary CBRE research.

“Dallas-Fort Worth has the strongest annual job growth out of the nation’s large metro areas, and office-using sectors are leading this expansion, shrinking office vacancy and putting upward pressure on rents,” said Sara Rutledge, director of research and analysis for CBRE.

In Dallas, the gross asking rent increased to $19.85 per sf in 4Q 2013, which was an increase of nearly a tenth of a percentage point.

“We’re very bullish,” said Michelle Hudson, principal at Dallas-based Hudson Peters Commercial. “The office market continues to tighten, and we’re going to see rates go up. The industrial market is tighter, and the investment market is through the roof.”

The expectation: Dallas-Fort Worth will continue the momentum of 2013 into the new year.

Also see Transwestern DFW 4Q 2013 report for economy, office and industrial data.

Make your life easier in acquiring recent data. See DFW Market Data Sources. If it is not updated, it soon will be.