Intelligence

Regional Summaries

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Dallas, TX

Apartment
The Dallas apartment market ended the fourth quarter of 2016 at just 3.8%, unchanged since mid-year but down 90 basis points for the year. At $1,063 and $978 per month, fourth quarter asking and effective averages were up 1.3% each for the period. The year 2016 overall had large gains—6.0% and 6.1%, respectively. VIEW APARTMENT LISTINGS >
Industrial
With 276.5 million square feet of existing inventory, the Dallas-side warehouse/distribution market as counted by Reis is huge. Warehouse/distribution market vacancy rate dipped below 13.0% in early 2016 and has remained there since. It closed the year at 12.6%, up 20 basis points for the period (amid an onslaught of deliveries) but down 40 for the year. At $4.40 psf and $4.12 psf, fourth quarter average asking and effective lease rates as reported by Reis were up 2.8% and 3.0% for the year. Gains in the fourth quarter of 2016 alone were 0.9% and 1.0%. With 44.4 million square feet of existing inventory, the Dallas-side Flex/R&D space market has enjoyed notable excesses of demand over supply over the past few years. Vacancy is favorable and declining amid rising rates of rent growth. At 8.4%, the fourth quarter 2016 Flex/R&D rate was unchanged from the quarter before but was down 30 for the year. At $6.86 psf and $6.24 psf, mean fourth quarter asking and effective rates represented gains of 2.1% and 2.3% for the year. Gains in the fourth quarter alone were 0.6% for both rates. VIEW INDUSTRIAL LISTINGS >
Office
The Dallas area general purpose, multi-tenant office market has a fourth quarter 2016 vacancy rate of 21.3%—down 50 and 70 basis points, respectively, for the period and the year. Modest increases in rent growth rates are indicated for 2016. At $23.84 psf and $18.47 psf, mean asking and effective rates for the fourth quarter were up 4.6% and 4.8% year-over-year. Growth slowed during the latter half of the year. Gains for the fourth quarter alone, roughly mirroring the third quarter’s gains, were 0.6% and 0.7%, asking and effective. VIEW OFFICE LISTINGS >
Retail
After peaking at close to 15.0% in early 2011, the vacancy rate in the Dallas area community-neighborhood center space market, with 58.7 million square feet of existing inventory at last count, closed the fourth quarter of 2016 at 11.7%, unchanged for the period and up 30 basis points for the year. At $18.11 psf and $15.79 psf, fourth quarter asking and effective averages were up 2.8% and 2.9% for the year. Gains for the latest quarter alone were 0.7% for both rates. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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