Dallas-Fort Worth office market report

Q4 2024

Dallas-Fort Worth’s office market continues to stabilize. Vacancy increases appear to have finally halted and space availability has begun to decline, although it is in its nascent stage. Absorption has also turned positive without the up-and-down, quarter-to-quarter negative impacts. Leasing is also ramping up, but it is still slow compared to the last economic cycle. This is all good news for DFW, however, the slow progression suggests that it will take considerable time for tighter market fundamentals to return. Complicating this is that most leases continue to get smaller as tenants accommodate a less-than-perfect return to the office dynamic for employees.
1.7 msf

Net absorption has turned positive 

Absorption continued its run in Q4, coming in at +400k sf and ending 2024 at 1.7 msf – the first year with no major negatives since 2020.

25.9%    

Vacancy is stabilizing

Vacancy has remained around 26% for the last year. However, availability has inched lower to 27.3% compared to nearly 30% in 2023.

15.5 msf    

Leasing activity remains slow

The market is moving, but leasing remains slow. 2024 came in at 15.5 msf, 77% of its 2011-2019 average.

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.

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