Newmark: DFW Office Market Report 1Q 2015
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.
| 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 |
| 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).
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