Time on market surprisingly low and stable for Dallas-Fort Worth’s newer class A space

The average months on market for vacancies to lease in all DFW’s larger class A office buildings has increased to almost 24 months—that’s up roughly 3 months over the 2014–2019 average.
That average masks a significant disparity between newer stock (buildings built since 2005) and older properties. DFW’s newer assets average 10.4 months. While up slightly, that level has remained surprisingly stable compared to 2014–2019 — illustrating strong fundamental demand.
For pre-2005 properties, the average is astoundingly closer to 2 years. That is an additional year or more to lease the space, which is complicated by the number of options tenants now have given that direct and sublet space availability has increased 36%, or 70 million square feet, since 2016.

June 20, 2023

US-TX-DAL Dallas