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DALLAS-With the world's financial markets in a freefall, the Dallas/Fort Worth office market has closed out the third quarter on a positive note, absorbing more than one million sf. The big question is whether or not it's sustainable in the aftermath of the global fiscal meltdown.

"Until two or three weeks ago, it looked really good for Dallas/Fort Worth. I can't answer the question right now," Greg Biggs, executive director for Cushman & Wakefield of Texas Inc., "because I don't know how this financial crisis will affect the deals in the marketplace." C&W reported Q3 office absorption of one million sf, down roughly 500,000 sf in the year-to-year comparison. Analysts for Delta Associates Inc., the Washington, DC-based research arm for Houston-headquartered Transwestern Commercial Services, say it's more like 1.6 million sf. As always, the difference lies in the method of data collection and amount of inventory included in the assessment.

Regardless of whose numbers are used, the point is Dallas/Fort Worth's office absorption has stayed in the black all year. C&W puts year-to-date absorption at 1.48 million sf for a 194.5-million-sf inventory and Delta pegs it at three million sf for its 276.9 million sf of inventoried space. C&W places vacancy stands at 20.7%; Delta says its17%.