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Showing a strong demand for new office product coming to market, there are 22 projects remaining in the construction pipeline with pre-lease rate of 49.6%. The DFW office market had its 31st consecutive quarter of positive absorption and the fourth quarter had 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, up 96 basis points from third quarter 2017. Vacancy rates began to compress slightly by 10 basis points from third quarter 2017, but are still up a full percentage year-over-year. DFW’s unemployment rate of 3% continues to outperform the US average of 4.7%, according to a report by CBRE Research.—Lisa Brown

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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