Regional Summaries

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Fort Worth, TX

The vacancy rate remains extremely low in the 171,830-unit market-rate, investment grade Fort Worth apartment market, as a demand boom continues. As of October 2017, the year-to-date totals were 1,790 units of new supply and 2,147 units of net absorption, and the vacancy rate was down 30 basis points to 3.4%. As of October, the average asking rent was $929 per month, up 4.1% year-to-date, with the average effective rent at $889 per month, up 4.4%. VIEW APARTMENT LISTINGS >
A multi-year demand boom in the 141.8-million-square-foot Fort Worth warehouse/distribution market is now being matched by speculative construction. Reis reports 1.7 million square feet of new supply in 2017 through October, with nearly 2.3 million square feet of net absorption. The October vacancy rate was 10.6%, down 60 basis points year-to-date. Average rents were up 2.2% year-to-date, to $4.23 psf asking and $3.77 psf effective. Fort Worth’s small 10.7-million-square-foot Flex/R&D market also got some new supply, with two 12,800-square-foot buildings completing construction in central Fort Worth in August 2017. Reis reports an October 2017 vacancy rate of just 9.3%, down 100 basis points year-to-date on 133,000 square feet of net absorption. The average asking rent is up 1.3% year-to-date to $7.16 psf, with the average effective rent up 1.6% to $6.24 psf. VIEW INDUSTRIAL LISTINGS >
The 25.6-million-square-foot Fort Worth general purpose, multi-tenant office market stabilized after mid-year 2017, but after a rough first half, net absorption still totaled minus 374,000 square feet year-to-date as of October. The vacancy rate was 17.4% that month, up 240 basis points from the end of 2016. As of October, the average asking rent was up just 0.5% year-to-date to $20.64 psf, with the average effective rent up 0.5% to $16.90 psf. VIEW OFFICE LISTINGS >
The 29.3-million-square-foot Fort Worth community-neighborhood shopping center market is quieter but in balance, with 198,000 square feet of new space added and 188,000 square feet of net absorption year-to-date through October. The vacancy rate of 10.7% is essentially unchanged year-to-date and is down from a peak of 14.2% in 2010. Average rents increased 1.4% year-to-date, to $15.64 psf asking and $13.82 psf effective in October. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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