2023 Office Space Rent & Sales
- $27.16 2023 Avg. Asking Rent
- 3.27% Y-o-Y Avg. Asking Rent Change
- 14.98% 2023 Office Vacancy Rate
Fort Worth office price per square foot in 2023 was $27.16 on average. This marked a +3.27% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 14.98% across all asset classes combined.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Fort Worth Class A & A+ Office Space$30.97
- Fort Worth Class B Office Space$21.55
- Fort Worth Class C Office Space$17.09
- Texas Class A & A+ Office Space$36.17
- Texas Class B Office Space$24.95
- Texas Class C Office Space$20.98
Fort Worth, TX Office Asking Rents by Class
Average office rent in Fort Worth rested at $27.16 per square foot in 2023. 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 Fort Worth averaged $30.97 per square foot. Across all submarkets, class B office space recorded an average asking rent of $21.55 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $17.09 per square foot, on average. Comparably, statewide Texas average office rents by class in 2023 were: $36.17 per square foot for class A office space; $24.95 per square foot for class B office space; $20.98 per square foot for class C office space.
2023 Office Vacancy Rates in Fort Worth
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| West Fort Worth | $32.63 | 15.57% |
| Fort Worth Central Business District | $30.81 | 11.02% |
| Denton | $29.84 | 9.52% |
| South Fort Worth | $22.88 | 11.74% |
| North Fort Worth | $20.90 | 9.34% |
| East Fort Worth | $20.02 | 29.77% |
Office Spaces for Rent in Texas
Coworking Spaces in Texas
- Houston Coworking Space
- Dallas Coworking Space
- Denver Coworking Space
- Austin Coworking Space
- San Antonio Coworking Space
- Nashville Coworking Space
- Phoenix Coworking Space
- Salt Lake City Coworking Space
- Scottsdale Coworking Space
- Plano Coworking Space
- Kansas City Coworking Space
- Fort Worth Coworking Space
- New Orleans Coworking Space
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- Colorado Springs Coworking Space
- St. Louis Coworking Space
- Boulder Coworking Space
- Omaha Coworking Space
- Tulsa Coworking Space
- Tucson Coworking Space
- Chattanooga Coworking Space
2023 Office Construction in Fort Worth, TX
- Fort Worth, TX Total SF completed in 2023 347,802
- Fort Worth, TX Total SF under construction in 2024 69,522
During 2023, 347,802 square feet of new office space were delivered across the market. At the close of 2023, the Fort Worth office inventory included 3 buildings equal to or larger than 25,000 square feet, which comprised 347,802 square feet of office space. Looking forward, development activity throughout 2024 is estimated to add 69,522 square feet of office space to the market, before year-end.
| Office building | Address | SF | Completed |
|---|---|---|---|
| Baylor All Saints POB II | 1280 8th Avenue, 76104 | 100,000 | 2024 |
| 601 East Exchange Avenue | 601 East Exchange Avenue, 76174 | 51,000 | 2024 |
| 6844 Harris Pkwy | 6844 Harris Pkwy, 76132 | 41,217 | 2023 |
| 4000 Bryant Irvin Rd | 4000 Bryant Irvin Rd, 76109 | 19,717 | 2022 |
| 3400 NW Centre | 3400 Northwest Centre Dr, 76135 | 12,076 | 2022 |
| 516 W. Bonds Ranch Road | 516 W. Bonds Ranch Road, 76131 | 8,889 | 2022 |
| 101 Nursery Ln | 101 Nursery Ln, 76114 | 19,902 | 2019 |
| Henderson Medical Tower | 500 S Henderson Street, 76104 | 98,497 | 2018 |
| 120 St Louis Ave | 120 St Louis Ave, 76104 | 1,775 | 2018 |
| Near Southside Mercantile | 1217 8th Ave, 76104 | 24,071 | 2017 |
Worth noting among recent office completions on the Fort Worth market is Baylor All Saints POB II, which is currently the largest new office development in the city, at 100,000 square feet.
See reports for other markets
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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 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Fort Worth 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.