• According to the Bureau of Labor Statistics, DFW maintained solid job growth by adding 107,500 non-farm jobs since October 2017, a 3.0% annualized gain.

 

  • Net absorption in Q4 2018 surpassed the first three quarters of the year with slightly over 1 million sq. ft., yielding 2 million sq. ft. for the year.

 

  • Vacancy remained flat over the quarter despite the positive absorption, due to ±1.6 million sq. ft. of competitive inventory introduced to the DFW market following an investment sale of a former owner/user campus.

 

  • The shared workspace concept has picked up even more traction in DFW, with a handful of operators taking occupancy in Q4 2018 and roughly 400,000 sq. ft. of new locations already on deck to open in 2019.

 

  • Currently 16 leased projects totaling 3.9 million sq. ft. are in the construction pipeline with a pre-leased rate of 65%.

 

  • Overall asking rents dipped slightly from $25.03 per sq. ft. to $24.88 per sq. ft. on a full service gross basis. Class A asking rates, however, increased from $30.72 per sq. ft. to $30.93 per sq. ft.