Commercial Real Estate Report - Dallas, TX [Office]

Property Type

In contrast with some of its other real estate sectors and its economy, Dallas's general purpose, multi-tenant office market is taking a slower road toward recovery. Following its third quarter 2010 cyclical peak, the vacancy rate had slipped to 23.4% by the end of the fourth quarter of 2012, down only 20 basis points during the year. Respective asking and effective averages for the fourth quarter were up 1.6% each for the period and were up 2.5% and 2.7% for the year. (3/8/13)

Boundaries

Display:
Recent Sales New Construction Highlight Submarkets

Latest Quarterly Reports (Q1 2013)

Dallas, TX - Entire Metro
Submarkets
Stemmons Fwy/L Field -100 bps
Far East Dallas -100 bps
W LBJ Freeway -90 bps
Preston Center -60 bps
Richardson -60 bps
Addsn/Crltn/FBrnch -40 bps
Dallas CBD -30 bps
Uptown -20 bps
Irving -10 bps
Las Colinas 10 bps
Plano/Allen 40 bps
LBJ/NC Expy 50 bps
Flwr Md/Lewv/Denton 50 bps
E Dallas/Nr NC Exy 50 bps
South Dallas 110 bps
NC Expy/NE Dallas 130 bps
Oaklawn 190 bps
North Dallas 510 bps

Recent Sales

Cap Rate Trend

Sales Trend

Q1
2013
Q4
2012
Q3
2012
Q2
2012
Mean 5.8% 7.9% 8.5% 9.1%
Median 6.4% 8.7% 8.5% 9.1%
12 Month Rolling 7.6% 7.8% 8.2% 8.0%

Commercial Real Estate News

Recent Rent Observations

Location ID Class Rent
Plano/Allen 97640 A $21
Richardson 71790 BC $9
Plano/Allen 71880 BC $19
LBJ/NC Expy 01490 BC $15
NC Expy/NE Dallas 65340 A $18
Plano/Allen 24770 A $23
E Dallas/Nr NC Exy 65800 BC $18
Plano/Allen 18780 A $0
Plano/Allen 29540 A $0
Uptown 50630 A $30

Change From Previous Quarter

Market Rent Vac Inv
Dallas 0.1% 0 bps 0.1%
Southwest Region 0.0% 0 bps 0.1%
United States 0.0% 0 bps -0.0%

Metro vs. Region 0.1% 0 bps 0.0%
Metro vs. US 0.1% 0 bps 0.0%

Latest New Construction Updates

Location Size
Plano/Allen 0 - 110,000
Plano/Allen 0 - 110,000
Plano/Allen 210,000 - 310,000
Plano/Allen 210,000 - 310,000
Plano/Allen 110,000 - 210,000
Plano/Allen 110,000 - 210,000
Plano/Allen 0 - 110,000
Addsn/Crltn/FBrnch 0 - 110,000
Addsn/Crltn/FBrnch 110,000 - 210,000
Addsn/Crltn/FBrnch 110,000 - 210,000
View all Construction Projects

National Office Real Estate Trends

Vacancy Trends
Supply and Demand
Inventory Change
Inventory Change

Metropolitan Office Rankings (Q1 2013)

Based on 190 U.S. Markets
Value:
169. Central New Jersey, NJ 22.4%
170. Daytona Beach, FL 22.7%
171. Fort Pierce, FL 22.7%
172. Fort Myers, FL 22.9%
173. Wilmington, DE 23.1%
174. Dallas, TX 23.3%
175. Flint, MI 24.0%
176. San Bernardino/Riverside, CA 24.0%
177. Memphis, TN 24.3%
178. Reno, NV 24.3%
179. Fort Wayne, IN 24.9%

Avg Annual Growth Rate (2013 - 2017)

Market Rent Vac Inv
Dallas 0.6% 2,278 bps 0.9%
Southwest Region 0.7% 1,810 bps 0.9%
United States 0.6% 1,704 bps 0.9%

Metro vs. Region -0.0% 467 bps 0.1%
Metro vs. US 0.0% 574 bps -0.0%