Positive absorption and no new deliveries lowered vacancy; the growing pipeline is the next test.
Dallas–Fort Worth office vacancy ended Q3 2026 at 24.6%, down 40 basis points from Q2, according to CBRE. Net absorption reached about 1M SF, while leasing increased from 1.80M SF to 2.52M SF.
Class A vacancy declined 50 basis points quarter over quarter to 24.5%, and Class B declined 40 basis points to 24.7%. The larger 140- and 190-basis-point declines are annual comparisons.
Average asking rent increased from $34.82 to $35.09 per SF, approximately 0.8% (calculated). The construction pipeline expanded from about 2.98M SF to 3.48M SF. CBRE also reports 4.33M SF of vacant sublease space.
For owners and lenders, the question is whether demand can keep absorbing space as projects deliver. Dividing the pipeline by one quarter’s absorption gives roughly 3.5 quarters, but that arithmetic is not a lease-up forecast: delivery timing, location, building quality and future demand matter.
Key Takeaways
- Positive absorption and no new deliveries lowered vacancy; the growing pipeline is the next test. Asking rents rose about 0.8% quarter over quarter. Track deliveries and competing vacant space rather than treating a pipeline-to-absorption ratio as a lease-up forecast.
CBRE — Dallas/Fort Worth Office Figures Q3 2026, October 9, 2026: https://www.cbre.com/insights/figures/dallas-fort-worth-office-figures-q3-2026 · CBRE — Q3 2026 report tables: https://mktgdocs.cbre.com/2299/17b27f33-9c1f-4227-98fa-0e11a3a91949-772035707/Dallas_Fort_Worth_Office_2026_.pdf
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