The North Texas office market closed 2012 on a high note, with its best showing since the end of 2008, according to a report from Newmark Grubb Knight Frank.
Here are some statistics gleaned from the NGKF report. To read the full study, click here.
• Rents were up 33 cents per square foot, when compared to the fourth quarter of 2011
• The overall vacancy rate dropped to 20.3 percent, form 21.2 percent in Q4 2011
• Total net absorption stayed positive for the third consecutive quarter at 923,865 square feet and brought the year-to-date total to about 2.5 million square feet.
• About 3 million square feet was leased in Q4; about 15.3 million square feet was leased in 2012
• VHA Inc. signed one of the largest deals in the Las Colinas market taking 286, 922 square feet
• The Preston Center submarket came in with the highest asking rent, at $29.17 per square foot