Dallas Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $31.46 2024 Avg. Asking Rent
  • 23.16% 2024 Office Vacancy Rate
  • $341.2M2024 Total Office Sales
  • $131.61Avg. Sale Price/SF

Dallas office price per square foot in 2024 was $31.46 on average. The local office market recorded an average vacancy rate of 23.16% across all asset classes combined. The 13 transactions that closed here throughout 2024 amounted to a total sale volume of $341.2M. Dallas office space commanded an average sale price per square foot of $131.61.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • Dallas Class A & A+ Office Space$36.68
  • Dallas Class B Office Space$23.30
  • Dallas Class C Office Space$21.50
  • Texas Class A & A+ Office Space$38.26
  • Texas Class B Office Space$24.71
  • Texas Class C Office Space$19.84

Dallas, TX Office Asking Rents by Class

Average office rent in Dallas rested at $31.46 per square foot in 2024. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Dallas averaged $36.68 per square foot. Across all submarkets, class B office space recorded an average asking rent of $23.30 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $21.50 per square foot, on average. Comparably, statewide Texas average office rents by class in 2024 were: $38.26 per square foot for class A office space; $24.71 per square foot for class B office space; $19.84 per square foot for class C office space.

2024 Office Vacancy Rates in Dallas

Submarket Asking Rents Vacancy Rates
Uptown/Oak Lawn $59.99 13.98%
Preston Hollow $56.54 12.30%
Central Expressway $33.27 18.79%
East Dallas $31.43 14.19%
Platinum Corridor South $29.89 24.06%
South Dallas $29.31 50.47%
Dallas Central Business District $27.78 31.87%
Las Colinas $27.68 25.21%
North Dallas $26.93 24.92%
Telecom Corridor $22.58 24.06%
West Dallas $21.74 19.23%
Lake Highlands $20.60 35.99%
Northwest Dallas $19.80 27.57%
Data provided by Yardi Research
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Dallas market was 23.16% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Dallas was 12.30% in the Preston Hollow submarket, while the highest office vacancy in the market was 50.47%, recorded in South Dallas.

Dallas Office Sale Price per SF

  • $131.612024 Avg. Price per SF
  • 23.94%Y-o-Y Avg. PpSF Change
  • $341.2M2024 Office Sales Volume
  • 132024 Number of Transactions

Dallas, TX Sale Price per SF Trend

  • Dallas Avg. Sale Price per SF in 2024$131.61
  • Texas Avg. Sale Price per SF in 2024$150.73
Dallas office space cost in 2024 marked a +23.94% change compared to the previous year. The sale price for office space in Dallas averaged $131.61 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide Texas average office sale price during the same time period was $150.73 per square foot.

2024 Office Sales Volume

  • Dallas, TX Total Office Sales Volume in 2024 $341.2M
  • Dallas, TX Total Number of Office Sales Closed in 2024 13
A total of 13 deals closed on the Dallas office market in 2024, adding up to a yearly sales volume of $341.2M. Notably, the largest transaction on the market saw Tower at Park Lane change hands for $66,000,000 on 12/30/2024.

Largest Dallas Office Sales in 2024

Property name Address Date Price
Tower at Park Lane 8750 North Central Expwy 12/30/2024 $66,000,000
One Triumph Place 8401 North Central Expwy 3/21/2024 $54,000,000
Parkway Office Center 14180 Dallas Pkwy 9/4/2024 $18,500,000
North Central Plaza I 12655 North Central Expwy 4/2/2024 $14,250,000
Data provided by Yardi Research

Coworking Spaces in Texas

2024 Office Construction in Dallas, TX

  • Dallas, TX Total SF completed in 2024 480,425
  • Dallas, TX Total SF under construction in 2025 998,647

During 2024, 480,425 square feet of new office space were delivered across the market. At the close of 2024, the Dallas office inventory included 2 buildings equal to or larger than 25,000 square feet, which comprised 480,425 square feet of office space. Looking forward, development activity throughout 2025 is estimated to add 998,647 square feet of office space to the market, before year-end.

Largest Office Properties Recently Completed in Dallas
Office building Address SF Completed
8300 Douglas 8300 Douglas Ave., 75225 290,000 2026
23Springs 2323 Cedar Springs Road, 75201 641,563 2025
8111 Douglas 8111 Douglas Ave., 75225 220,523 2023
Maple Terrace 3001 Maple Ave, 75201 157,000 2023
The Capital Design District 1333 Oak Lawn Avenue, 75207 125,865 2023
The Epic II 2500 Pacific Avenue, 75226 485,000 2022
The Ruston 1900 S Ervay St, 75215 16,701 2022
300 Pearl 2110 Jackson Street, 75201 558,214 2021
The Link at Uptown 2601 Olive Street, 75201 292,000 2021
Medical City Heart & Spine Campus - Pavilion II & III 12228 North Central Expwy, 75243 175,875 2021

Worth noting among recent office completions on the Dallas market is 8300 Douglas, which is currently the largest new office development in the city, at 290,000 square feet.

Data provided by Yardi Research

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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by Yardi Research Data, a market intelligence solution which offers comprehensive real market knowledge on all Dallas commercial properties sized 25,000 square feet or larger.

While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor Yardi Research Data can guarantee that the information provided is complete.