Showing a strong demand for new office product coming to market,there are 22 projects remaining in the construction pipeline withpre-lease rate of 49.6%. The DFW office market had its 31stconsecutive quarter of positive absorption and the fourth quarterhad the highest absorption of 2017 with 1.1 million square feet,bringing the year-to-date total to nearly 2.7 million square feet.Asking rates rose once again for a DFW-wide average of $24.48, up96 basis points from third quarter 2017. Vacancy rates began tocompress slightly by 10 basis points from third quarter 2017, butare still up a full percentage year-over-year. DFW's unemploymentrate of 3% continues to outperform the US average of 4.7%,according to a report by CBRE Research.—Lisa Brown
NEWS AND NOTABLES
DALLAS—Whitebox Real Estate, a full-servicecommercial real estate firm in Dallas, is adding a new investmentsales division to round out its services. Matthew Otte has beenhired as senior vice president, director of investment sales, tobegin building a team to provide a full-service solution to clientson both the acquisition and disposition side. With a primary focuson urban/infill office assets across the DFW metroplex and morethan 14 years of experience, the Dallas native comes to Whiteboxfrom Transwestern Commercial Services.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
