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Regional Summaries

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Fort Worth, TX

Apartment
The 176,600-unit market-rate investment-grade Fort Worth apartment market vacancy rate increased 30 basis points during the first quarter of 2019, and it up 50 year-over-year, but it is still just 4.3%. Rent gains remain strong. During the first quarter the average asking rent increased 0.6% to $992 per month, and the average effective rent rose 0.7% to $952 per month. The year-over-year gain is 4.6% by both measures. VIEW APARTMENT LISTINGS >
Industrial
The 150-million-square-foot Fort Worth warehouse/distribution market vacancy rate decreased 80 basis points over the first quarter of 2019 to 10.8%. It is still up 70 basis points year-over-year. The average asking rent was up 0.9% over the quarter to $4.47 psf and the average effective rent was up 1.3% to $4.02 psf. The year-over-year gains are large at 4.0% and 4.4%, respectively. Fort Worth's small 10.8-million-square-foot Flex/R&D market vacancy rate plunged 250 basis points during the first quarter of 2019 to 7.6%, and it is down 310 from a year earlier. Rents increased 0.8% by both measures over the quarter. Compared with a year earlier, however, the average asking rent is up a moderate 2.1% to $7.41 psf with the average effective rent up 2.5% to $6.47 psf. VIEW INDUSTRIAL LISTINGS >
Office
A surge of net absorption in late 2018 was followed by a flat first quarter of 2019 for the 26.3-million-square-foot Fort Worth general purpose, multi-tenant office market. With no new supply and 15,000 square feet of negative net absorption, the vacancy rate edged up 10 basis points to 17.0%. That is down 80 basis points from a year earlier. During the first quarter the average asking rent increased 0.1% to $20.98 psf, with the average effective rent up 0.2% to $17.20 psf. The year-over-year gains are 0.6% and 0.7%, respectively. VIEW OFFICE LISTINGS >
Retail
The 29.4-million-square-foot Fort Worth community-neighborhood shopping center market vacancy rate decreased 30 basis points during the first quarter of 2019 to 11.6%, but it is up 30 year-over-year. Average community/neighborhood center rents, however, are rising moderately. The first quarter gain was 0.6% by both measures, to $16.08 psf asking and $14.22 psf effective. The year-over-year gains are 1.7% and 1.6%. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, Inc. based on Market Summaries for the 85 Primary and Secondary Markets they cover.

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