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DFW office occupancy continued its decline in third quarter

​DALLAS-FORT WORTH-ARLINGTON – Office occupancies continued their decline in the third quarter, according to a market update from Transwestern.

North Texas occupancies fell 716,800 sf in the third quarter, leading to an office absorption of negative 944,700 sf. West Plano had a net leasing of -545,243 sf, followed by Frisco at -205,621 and Las Colinas at -322,203.

Total available office space is at the highest point in a decade at 26.5 percent. 

Office construction is the lowest in a decade with the work at the end of September down seven million sf from the end of 2022 at 4.3 million sf.  

Most new construction is in the Uptown-Turtle Creek area with 1.25 million sf and Frisco with 1.2 million sf. ​