Five of the six submarkets within Fort Worth saw Class A space absorption outpace older Class B properties.
Five of the six submarkets within Fort Worth saw Class A space absorption outpace older Class B properties.
Five of the six submarkets within Fort Worth saw Class A space absorption outpace older Class B properties.
FORT WORTH, Texas — This article was originally published by our content partners at the Dallas Business Journal. You can read the original article here.
Real estate experts are seeing an office statistic they haven’t seen in Fort Worth since 2019.
At the beginning of this year, Greater Fort Worth’s office market saw positive net absorption, a term that refers to the amount of office space leases versus the amount of space vacated, according to a recent JLL report. The Greater Fort Worth market saw net absorption of 94,118 square feet.
That statistic is one indicator to measure the health and performance of the office market. Fort Worth has been steadily inching toward positive office numbers as more and more employers return to office and seek nicer and newer spaces following a trend of remote work at the peak of the Covid-19 pandemic. Vacancy is sitting flat at 17.8%.
Five of the six submarkets within Fort Worth saw Class A space absorption outpace older Class B properties. The Arlington/Mansfield submarket saw the most absorption, with the United Football League taking 110,000 square feet for its headquarters in Arlington’s Entertainment District — the largest new lease in the market in nearly two years.