Dallas-Fort Worth office market reports
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Direct and sublease vacancy have reached nearly all-time highs of 19.7%, while the flight to quality trend persists for the Class A and Trophy segments. Reopening efforts have allowed the metro to fall below the national unemployment rate of 6.1%.
The unemployment rate has steadily declined from a pandemic high of 12.5% as reopening efforts have allowed the local economy to rebound.
As indicated through extrapolated cell phone data, more than half of pre-pandemic activity has returned with banking and media firms returning more quickly than other large corporate office users.
Absorption as a percentage of total post pandemic leasing, as the flight to quality trend persists for the Class A and Trophy segments, even while overall net absorption is still negative.
Record sublease vacant space on the market, as sublease continues to drag down aggregate fundamentals. Sublease has added to the total 9.1 msf of total available space.
Rents have continued to rise through the pandemic and resulting recession—a diverging result from previous recessions which saw periods of decline in rents
Office assets sold in the last 12 months—an annualized decrease of 46.6% when compared with the past five-year average.
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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.
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