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DFW office 2Q 2013: Marcus & MillichapDFW office 2Q 2013: Marcus & Millichaphttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=65002013-08-28T13:34:00Z2013-08-28T00:00:00Z

DALLAS-FORT WORTH - Over the past 12 months ending June 2013, developers delivered 1.6 million sf of new office space to the Metroplex, a more than three-fold increase from the corresponding period in 2012, but equivalent to only a 0.5 percent increase in existing stock.

The Upper Tollway/West submarket will account for 45 percent of the market’s new office supply this year DFW office vacancy improved 90 basis points over the past 12 months to 19 percent. During the corresponding period last year, the vacancy rate retreated 120 basis points.

On average, Metroplex office rents averaged $19.91 per sf at the end of second quarter, up 0.6 percent from one year earlier. In the previous 12-month period, market rents increased 1.7 percent.

DFW Submarket Vacancy Ranking 2Q 2013*
Rank Submarket Vacancy
Rate
Y-O-Y Basis 
Point
Change
Effective
Rents
Y-O-Y
Change
1 North Fort Worth 7.3% 120 $18.45 -2.9%
2 Preston Center 7.8% -320 $29.99 -0.2%
3 South Fort Worth 10.1% 0 $20.53 -0.1%
4 Southwest Dallas 12.0% -140 $14.86 0.7%
5 East Dallas 13.1% -100 $16.63 0.2%
6 Fort Worth CBD 14.3% 230 $24.30 4.0%
7 Lewisville-Denton 14.6% 0 $19.19 8.6%
8 Uptown-Turtle Creek 15.1% -200 $29.31 1.2%

*This chart does not represent all submarkets in the report.

Read more at Marcus and Millichap Real Estate Investment Services.

Need more data? See Dallas-Fort Worth-Arlington Market Data Sources!

Marcus & Millichap Real Estate Investment Services
Dallas-Fort Worth-Arlington
Office
http://www.marcusmillichap.com/research/reports/office/dallas_3q13lor.pdfRead more at {Source}

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