Dallas-Fort Worth Market Update: Vacancy On Right Track

After an encouraging August, when Dallas-Fort Worth’s office sector witnessed the first signs of improvement, the metro’s vacancy rate kept improving in September. CommercialEdge data shows the figure dropped to 18.2 percent across the Metroplex, a 70-basis-point progress month-over-month and year-over-year.

Same as in the previous month, the value remained higher than the national average rate of 14.9 percent, which decreased by 50 basis points month-over-month. When compared to similar secondary markets, the Metroplex was 250 basis points behind Austin (15.7 percent vacancy rate) but 170 basis points above Atlanta, where the rate stood at 19.9 percent.

Submarkets located in Dallas and its surroundings, such as Dallas Central Business District, Uptown/Oak Lawn and West Dallas, saw little variation in vacancy. On the other hand, most of Fort Worth’s submarkets recorded increases ranging between 80 and 410 basis points.

South Dallas, a submarket with an office inventory of a little more than 3 million square feet, was the best-performing area. The vacancy rate there dropped from 19.8 to 18.0 percent.

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