The Mexico City Metropolitan Area Inventory for Class A+ and A Office buildings closed the 1Q of 2018 with a total inventory of 6.4 M SQM or 69.2M SQFT. This represents an increase of 11% equivalent to 603k sqm or 6.5 M SQFT.
Bradford Allen is pleased to share with you our 2018 first quarter office market report.This quarter in the downtown market:• Office market activity in River West is officially tracked as the most recent submarket to join the CBD. • Net absorption was positive 720,640 sf. • The direct vacancy rate dropped to 11.85% from 12.1%, and the average gross asking rent decreased to $39.38psf from $40.69psf, both compared to the previous quarter.
Vacancy for Q1/2018 remains at 6.3% and rates were largely unchanged for industrial, with a slight increase from $5.88 SF in Q4/2017 up to $5.92 SF at the end of the first quarter. Demand continues to outweigh supply and the majority of submarkets continue to experience low vacancy rates.
Absorption over the fourth quarter totalled positive 86,000 square feet (sf).
Absorption for the fourth quarter totaled negative 41,000 square feet (sf).
The Richardson/Plano Sub-Market has shown an increase in the direct Class A vacancy from 6.7% in the fourth quarter of 2014 to 10.9% at the beginning of the fourth quarter of 2015.
The North Central Expressway Sub-Market has remained closely stable with a decrease in the Direct Class A vacancy from 17.5% at the end of fourth quarter of 2014 to 15.6% at the end of the fourth quarter of 2015.
The Dallas/Ft.Worth Office Market ended the fourth quarter 2015 with a vacancy rate of 14.1%.
Across all product types, North Texas has seen skyrocketing rental rates and diminishing vacancy. Office space on the Lower Tollway is no exception.
The Upper Tollway Sub-Market is currently a hub of office real estate activity in Dallas and has become one of the most attractive sub-markets in the D/FW Metroplex.