Frisco Office Market Q1/2019
Frisco Office Market Q1/2019 Frisco's office market continues to expand, adding 200K SF in new inventory in the first quarter. There are 107 office buildings with 351K 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 2.1%. Frisco's office market is strong. There appears to be a decrease in asking rental rates to become more in line with actual rental rates.
The demand for Frisco office space remains positive with recent relocation announcements of companies like Keurig-Dr. Pepper and the PGA.
Important Quarterly Statistics:
Total Inventory: 5.5M a .1% Increase for the quarter
Vacancy Rate: 21.3% Increased -2.1% for the quarter
Market Rent: $32.70 Per SF +1.8% Increase for the quarter
Market Sales Price: 278 Per SF +5.2% for the quarter
Market Cap Rate: 6.4% Increased -.01for the quarter
(Source: Costar)
