DALLAS-FORT WORTH – After posting negative absorption in 1Q2020, the local office market continued another round of negative net absorption in the second quarter.
According to CBRE, the -639,155 sf of absorption was enhanced by move-ins that have been pushed back to later in the year.
Last quarter, 639,334 sf of office space was delivered, and an additional 4.7 million sf is under construction.
Vacancy increased over the quarter to 21.8 percent. The average asking rate was $26.28 per sf.
The Real Estate Center has more on DFW’s office market: