Dallas-Fort Worth office market report

Q3 2021

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The Dallas-Fort Worth market showed signs of strong recovery in Q3 2021, as leasing activity reached its highest level since Q4 2019, private-sector office employment surpassed pre-pandemic levels, and absorption levels trended in a positive direction for the second consecutive quarter.

4.7%

Economic conditions

Dallas-Fort Worth’s unemployment rate has reached to its lowest level since March 2020.

 

14.5%

Recovery rate

Professional and business services employment growth between February 2020 and August 2021; total private sector office-using employment has surpassed pre-pandemic levels, now standing at 1.09 million jobs compared to 1.06 million in February 2020.

19.8%

Overall office vacancy

Vacancy remained relatively unchanged in Q3 2021, when compared to Q2 2021, providing an indicator less new vacancy is being introduced to the market than 12 months ago.

5.4 msf

Total available sublease space

Sublease vacancy grew by 333,000 sf in Q3 2021, largely as a result of a 150,000+ sf subleases
availability, which was introduced into the market this quarter.

+250k
square feet

Absorption

DFW has seen two consecutive quarters of positive net absorption as leasing activity continues to pick up.

$28.3
per square foot

Overall asking rent

Rents have incrementally grown following despite the pandemic as DFW saw its highest volume of leasing activity in a single quarter since Q4 2019.

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Your source for the latest Dallas-Fort Worth office market reports

Get in-depth office market reports and insights from commercial real estate experts in the Greater Dallas-Fort Worth (DFW) area. Avison Young advisors look at DFW commercial real estate activities and the latest DFW statistics to provide you expert market research on the area’s office properties.

Explore different topics like the latest office market pricing trends and analysis of DFW’s current office real estate market conditions. Gain a better understanding of DFW’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in the Dallas-Fort Worth Metroplex competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in Dallas-Fort Worth.

The dashboard was delivered through AVANT by Avison Young: leveraging real-time data and analytics to make cities and location-based decisions more transparent and efficient. Learn more about AVANT.

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