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office report Dallas led absorption in 2017 with nearly 5.3 million square feet.

DALLAS—Significant net absorption in markets such as Dallas/Fort Worth and Austin, TX contributed to a decline in vacancy, as did a deceleration in new construction starts during the fourth quarter, according to Transwestern’s 2017 year-end report on the national office market. Ryan Tharp, director of research for Transwestern’s Dallas office, noted that Dallas led absorption in 2017 with nearly 5.3 million square feet.

This is a 64% jump from the previous year’s total. Vacancy rates have fluctuated between 14% and 15.5% for the last five years, despite the market delivering an additional 26.7 million square feet during that time. Construction deliveries in 2017 totaled 8.2 million square feet, a 75.6% increase from 2016’s total.

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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.

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