2020 Office Space Rent & Sales
- $24.39 2020 Avg. Asking Rent
- -1.72% Y-o-Y Avg. Asking Rent Change
- 21.56% 2020 Office Vacancy Rate
Farmers Branch office price per square foot in 2020 was $24.39 on average. This marked a -1.72% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 21.56% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Farmers Branch Class A Office Space$27.82
- Farmers Branch Class B Office Space$21.19
- Farmers Branch Class C Office Space$14.28
- Texas Class A Office Space$35.41
- Texas Class B Office Space$23.36
- Texas Class C Office Space$16.89
Farmers Branch, TX Office Asking Rents by Class
Average office rent in Farmers Branch rested at $24.39 per square foot in 2020. 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 Farmers Branch averaged $27.82 per square foot. Across all submarkets, class B office space recorded an average asking rent of $21.19 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $14.28 per square foot, on average. Comparably, statewide Texas average office rents by class in 2020 were: $35.41 per square foot for class A office space; $23.36 per square foot for class B office space; $16.89 per square foot for class C office space.
2020 Office Vacancy Rates in Farmers Branch
|Submarket||Asking Rents||Vacancy Rates|
|Platinum Corridor South||$27.38||18.18%|
2020 Office Construction in Farmers Branch, TX
- Farmers Branch, TX Total SF completed in 2020
- Farmers Branch, TX Total SF under construction in 2021 103,000
During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Farmers Branch office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space. Looking forward, development activity throughout 2021 is estimated to add 103,000 square feet of office space to the market, before year-end.
|Fourteen555 - Building 1||14555 North Dallas Pkwy, 75001||252,000||2018|
|Tollway Center||14675 Dallas Pkwy, 75001||197,355||2016|
|Mercer Business Park - Monitronics Headquarters||1990 Wittington Place, 75234||165,000||2015|
|2170 West Diplomat Drive||2170 West Diplomat Drive, 75234||27,124||2015|
|14460 Varsity Brands Way||14460 Varsity Brands Way, 75244||137,778||2012|
|International Plaza III||14241 Dallas Pkwy, 75254||354,182||2001|
|Four Hickory Centre||1755 Wittington Place, 75234||228,789||2001|
|13755 Hutton Drive||13755 Hutton Drive, 75234||46,425||2001|
|Two Colinas Crossing||11511 Luna Road, 75234||181,072||1999|
|Two Hickory Centre||1750 Valley View Lane, 75234||97,084||1999|
Worth noting among recent office completions on the Farmers Branch market is Fourteen555 - Building 1, which is currently the largest new office development in the city, at 252,000 square feet.
See reports for nearby markets
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 2020 through December 31st 2020. Construction pipeline data represented herein is valid as of April 2021. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Farmers Branch 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 CommercialEdge can guarantee that the information provided is complete.