Avison Young released its Fourth Quarter 2025 Office Market Report for Dallas-Fort Worth (DFW). The DFW office market closed 2025 with its strongest performance since 2019.
Net absorption remained solid in the fourth quarter, totaling 698,000 square feet and bringing annual absorption to 2.2 million square feet. Recovery activity remained heavily concentrated in Class A assets, which captured 2.7 million square feet of absorption in 2025.
The market’s strengthening fundamentals contributed to declining vacancy, with overall vacancy falling to 24.7%, its lowest level in two and a half years.
Leasing activity totaled 2.7 million square feet in the fourth quarter and 14.8 million square feet for 2025, with trophy and Class A properties accounting for 70% of all leasing activity in 2025.
Rents climbed alongside improving demand. Overall asking rents increased 2.4% year-over-year to an all-time high of $36.14 per square feet, led by trophy assets, where rents surged 10.6% to $63.66 per square foot.
