Dallas Office Sector Holding Steady

Despite some slowing metrics, the Dallas office sector has held steady. Sales in the metro have increased in recent months, with the investment volume nearing $1.1 billion through the first three quarters of 2024, according to CommercialEdge data. The metro ranked fourth nationally in investment volume, following Manhattan ($2.7 billion), Washington, D.C. ($2 billion) and the Bay Area ($1.8 billion).

At the end of September, The Metroplex had about 4 million square feet of office space under construction, accounting for 1.4 percent of total stock, above the 1.0 percent national rate. A total of 11 office properties came online in Dallas year-to-date as of September, totaling more than 1.6 million square feet. 

Dallas’ vacancy rate in September clocked in at 22.9 percent, considerably above the 19.5 percent national average. This also marks a 390-basis-point rise year-over-year.

The Metroplex’s listing rate during the same month clocked in at $30.64, slightly below the $32.89 national average. Miami ($52.87) and Austin ($45.99) led the South region.