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Newmark: DFW Office Market Report 1Q 2015Newmark: DFW Office Market Report 1Q 2015https://www.recenter.tamu.edu/news/newstalk-texas/?Item=6752015-06-19T14:08:00Z2015-06-19T00:00:00Z

DALLAS-FORT WORTH - The DFW office market began 2015 with its strongest first quarter since the dot-com bubble of 2000, as net absorption totaled 1.8 million sf according to 1Q 2015 Dallas office market report released by Newmark Grubb Knight Frank.

Absorption in Dallas-Fort Worth outpaced completions of nearly 1.6 million sf, which pushed the vacancy lower to end the quarter at 18.9 percent, down from 19.2 percent in 4Q 2014 and from 19.8 percent in 1Q 2014.

Asking rents at the end of first quarter averaged $21.99/sf full service, up by 0.8 percent over 4Q 2014 and by 4.9 percent over the past four quarters.

Select Sales Transactions
Building Submarket Sale
Price
Price/SF SF
2911 Turtle Creek Blvd Uptown/Turtle Creek $46.6 million $263 117,169
3100 McKinnon St Uptown/Turtle Creek $38.9 million $178 218,943
3900 N Dallas Rd Far North Dallas $26.2 million $218 120,019
250 E Arapaho Rd Richardson/Plano $24.7 million $158 155,984
2740 Dallas Pkwy Far North Dallas $20.75 million $177 117,050

Submarket Statistics
  Total
Inventory
(SF)
 Total
Vacancy
Rate
 YTD
Absorption
(SF)
 Total
Asking Rent
(Price/SF)
Dallas CBD 29,076,623 24.5% 331,164 $22.37
Fort Worth CBD 8,506,672 16.3% 29,561 $26.37
CBD Total 37,583,295 20.4% 360,725 $24.37


See the full Newmark Grubb Knight Frank Quarterly Office Market Report 1Q 2015 (PDF).

tag: DFW Market Research, DFW NewsTalk

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