DALLAS—CBRE has released a new report that previews what to expect over the near term in Dallas/Fort Worth.
Specialists from the firm say the DFW market—16 months into crude oil's price-collapse, is showing strength.
"Variety in occupier-demand is supporting unprecedented absorption numbers in the market's office and industrial sectors, which gained, respectively, approximately 4.6 million square feet and 12.7 million square feet of net space in 2015 through the third quarter," the report states.
In addition, retail occupancy is charting record highs as construction reaches a post-recession peak. Sustained in-migration growth has supported strong multifamily momentum across the metro area, with continued rent growth and declining vacancy despite the more than 9,400 units delivered in the past year, the CBRE report says.
"Office markets in Houston and Calgary, which are reliant on the energy sector, will feel some pain," says Jeff Havsy, Americas chief economist and managing director, Econometric Advisors, CBRE. "Unfortunately, these markets are also adding significant new supply just as the market is softening. Meanwhile, diversified energy markets like Dallas, Denver and Pittsburgh are seeing demand for office space from a host of other non-energy industries, which is mitigating the negative impact the slowing energy industry is having on these markets."
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