Allen & McKinney Office Market Q1/2019
Allen Office Market Q1/2019 Allen and McKinney Texas office market continues to expand, adding 306K SF in new inventory in the first quarter. There are 118 office buildings with 27.1K SF of space under construction and a scheduled to deliver in 2019 and early 2020. The first quarter of 2019 saw a decrease in the vacancy of 4.1%. Allen and McKinney's office market is strong. There appears to be a decrease in asking rental rates that are dipping below actual market rates. The demand forAllen & McKinney office space appears to be slowing. This is evident with the .03% decrease in rental rates this quarter.
Important Quarterly Statistics: Total Inventory: 3.4M a 9.0% Increase for the quarter
Vacancy Rate: 27.1% Increased 4.1% for the quarter
Market Rent: $26.89 Per SF .3% decrease for the quarter
Market Sales Price: 240 Per SF +5.7% for the quarter
Market Cap Rate: 6.6% Increased 0% increase for the quarter
(Source: Costar)
