Fort Worth, TX - Office Market Overview
The Fort Worth real estate market includes the Bonnie Brae, Garden of Eden, and Upper West Side commercial real estate submarkets. While the City of Fort Worth itself has a population of over 850,000 residents, it is also the second-largest city in the Dallas - Fort Worth - Arlington metropolitan area, which harbors a population of over 7 million people. Energy, transportation, and the aerospace industries are some of the principal drivers of the real estate market in Fort Worth, Texas.
As of mid-2017, the Fort Worth office market encompasses nearly 24.6 million square feet of existing office space in properties larger than 50,000 square feet. Due in part to the city’s metroplex location, there is consistently robust demand for commercial real estate in Fort Worth TX.
Fort Worth, TX - Office Inventory Description
Fort Worth contributes to its share of the Metroplex's $504 billion in gross annual metropolitan product, and also sees strong demand for white-collar office space within its borders. Nearly 38% of the office inventory in Fort Worth is Class A or A+, while Class B office space amount to nearly 58% of the office market inventory.
The Downtown Fort Worth office market is home to some of the most prestigious Class A office buildings in the region. Located west of the I-35W freeway and north and south of the I-30 freeway, office buildings such as 777 Main, the Oil & Gas/Star Telegram office building, and the D.R. Horton Tower at 301 Commerce Street continue to see strong demand from tenants and interest from national and global commercial real estate investors.
Fort Worth, TX Commercial Inventory Breakdown
Total: 25,371,429 SF
By square footage range:
- 50k to 100k SF: 4,700,977 SF / 18.53% of total office
- 100k to 500k SF: 13,758,814 SF / 54.23% of total office
- 500k to 1M SF: 4,520,139 SF / 17.82% of total office
- > 1M SF: 2,391,499 SF / 9.43% of total office
- Class A: 12,014,726 SF / 47.36% of total office
- Class B: 11,532,475 SF / 45.45% of total office
- Class C: 242,468 SF / 0.96% of total office
Top 10 Largest Office Buildings
in Fort Worth
|Office building||Address||Sqft||Year built|
|Alcon Laboratories - Office Towers||6201 South Fwy, 76134||1,366,872||2003|
|Burnett Plaza||801 Cherry Street, 76102||1,024,627||1983|
|777 Main||777 Main Street, 76102||954,895||1982|
|Bank of America Tower||301 Commerce Street, 76102||820,509||1981|
|BNSF Railway Corporate Headquarters||2650 Lou Menk Drive, 76131||807,494||1990|
|Wells Fargo Tower||201 Main Street, 76102||716,533||1982|
|5555 North Beach Street||5555 North Beach Street, 76137||668,018||1996|
|The Fort Worth Club||306 West 7th Street, 76102||552,690||1925|
|5401 North Beach Street||5401 North Beach Street, 76137||457,628||1994|
|Oil & Gas/Star-Telegram||309 West 7th Street, 76102||439,802||1929|
Most Recently-Built Office Buildings
in Fort Worth
|Office building||Address||Sqft||Year built|
|Moncrief Medical Center at Fort Worth||600 South Main Street, 76104||110,000||2017|
|Galderma Laboratories - Office and Training Facility||14501 North Freeway Service Road East, 76177||100,000||2017|
|5600 Clearfork Main Street||5600 Clearfork Main Street, 76107||180,000||2016|
|3017 West 7th Street||3017 West 7th Street, 76107||60,000||2016|
|Old Town Station||295 East Renfro Street, 76028||39,432||2016|
|FAA Regional Headquarters||10101 Hillwood Pkwy, 76177||357,214||2015|
|Hillwood Commons I||9800 Hillwood Pkwy, 76177||154,063||2015|
|Park Hill Medical Pavilion||3455 Locke Avenue, 76107||51,501||2015|
|Medical City Alliance Medical Office Building||3025 North Tarrant Pkwy, 76177||50,000||2015|
|111 Boland Street||111 Boland Street, 76107||42,000||2015|
Fort Worth, TX - Green Office Space
An excellent example of green office space in Fort Worth is the LEED certified Wilcox Plaza at Green Oaks. This 187,500-square-foot office building is located in the Ridgmar commercial real estate submarket of Fort Worth and proudly holds a LEED Gold certification for energy efficiency.
The demand for green office space continues to grow, as tenants seek more cost-effective, energy-efficient Class A office space in Fort Worth. The 2017 report by the National Green Building Adoption Index surveyed the top 30 major office markets in the U.S. The Dallas - Fort Worth metro area ranks 17th for LEED-certified, EPA Energy Star-rated, and green office building construction. In fact, a recent report from the North Texas U.S. Green Building Council Chapter discovered that energy-efficient office building construction is a major economic driver both in the Metroplex and in the State of Texas overall.
Fort Worth, TX's Top Office-Using Sectors
Some of the top office-using sectors in the Fort Worth TX commercial real estate and office market include the energy, transportation & aerospace, and healthcare industries, along with large corporate office headquarters.
- Energy – Pioneer Natural Resources, XTO Energy, and Encana Oil & Gas are some of the largest producers of oil in the Dallas - Fort Worth Metroplex region and help drive the demand for Class A office space in the area.
- Transportation & Aerospace – Companies such as Bell Helicopter, Lockheed Martin, American Airlines, and BNSF Railway are major users of office space in Fort Worth.
- Healthcare – Global medical company Alcon, JPS Health Network, Harris Methodist Hospital, and Cook Children's Health Care System help create demand in the Fort Worth commercial real estate market.
- Corporate Office Headquarters – Pier 1 Imports, Radio Shack, and D.R. Horton all create white-collar office employment in Fort Worth.
Fort Worth Demographics
- Total Population796,614
- Male Population(48.6 %) 387,317
- Female Population(51.4 %) 409,297
- Median Age31.90
- Average Household Income$70,536
- Median Household Income$53,214
- Median Income Under 25$27,454
- Median Income 25-44$57,811
- Median Income 45-64$59,871
- Median Income Over 65$38,109
- Alamo Heights Demographics
- Bonnie Brae Demographics
- Como Demographics
- Cultural District Demographics
- Diamond Hill - Jarvis Demographics
- Downtown Fort Worth Demographics
- Fairmount Demographics
- Garden Acres Demographics
- Garden of Eden Demographics
- Greenbriar Demographics
- Greenfield Acres - Jenkins Heights Demographics
- Greenway - Stockyards Demographics
- Heritage - Coventry Hills Demographics
- Highland Hills Demographics
- John T. White - Sandybrook Demographics
- Meadowbrook Demographics
- Mira Vista Demographics
- Monticello - North Hi Mount Demographics
- North Side Demographics
- Northbrook Demographics
- Overton Woods Demographics
- Ridglea Hills Demographics
- Ridgmar Demographics
- Rosemont Demographics
- Summerfields - Fossil Creek Demographics
- Upper West Side Demographics
- Village of Woodland Springs - Harvest Ridge Demographics
- Willow Creek - The Parks of Deer Creek Demographics
2018 Office Check-In: Top US Markets for Development, Largest Projects of the Year
September 20, 2018
We’re almost halfway through H2 2018, and it’s high time to check up on construction activity, as well as the state of the U.S. office pipeline when compared to previous analyses. Last year around the same time, we looked at top U.S. cities for office delivery during the fall-winter season, and ...
Winners and Losers in the Labor Market – US States and Metros with the Highest Income Inequality
August 21, 2018
Ever since Gordon Gekko uttered his now infamous credo, “greed is good,” many economists have been concerned with the long-term effects of the growing income inequality in the U.S. While free-market enthusiasts see things differently, inequality has become a recurring topic within our new...
Texas Office Sales Hit 5-Year Low in Q1
April 25, 2018
Office investment sales drop 63% y-o-y in Q1 Average prices inch back towards the $200 mark Houston Marathon Oil Tower finally sells in largest Q1 deal Over 6 million square feet of new product on track for Q2 delivery Texas’ top-tier office markets were off to a slow start this year, wrapping u...