Office Leasing Fort Worth Texas

Looking for Fort Worth Office Space?

 

Over the last few years, downtown Fort Worth and the surrounding 7th Street area has become energized and revitalized with new construction of residential, business and other commercial projects. Sundance Square, a 14-block area in the heart of downtown Fort Worth, remains a central point for businesses, arts and craft exhibits, annual festivals, concerts and other entertainment venues. Downtown Fort Worth office space added about 800,000 sf over the last couple of years in order to meet growing demand.

Fort Worth Office Space for Lease consists of about 5,000,000 square feet of Class A space and about 24,300,000 total sf. Class A buildings in downtown, including City Center Towers, Carter Burgess Plaza, and CHASE Bank Building among others, average about $27.70/sf. With a 91.8% occupancy rate, Fort Worth leads Texas for CBD occupancy.

As of the 4th quarter of 2010, the average asking lease rate for office space across Fort Worth was $16.53/sf. This represents about a 3.5% decline from the previous year. The annual rate for the Fort Worth CBD is $23.40/sf for the 8,700,000 total sf of space in the downtown market.

While rates for office space for lease in Fort Worth have taken a small hit over the last couple of years, because of the excitement about the 7th Street area and Sundance Square’s continued success, the market overall has remained relatively strong. Also, with the new office space for lease in the 7th Street area, it has brought some competition for the downtown market and allowed tenants an alternate option not previously available.

 

For all of your office space needs in Fort Worth, contact us today by calling 800-474-5068 ext. 10 or by emailing sales@crefirm.com.