Dallas, TX office market
The Dallas office market is highly bifurcated: trophy and Class A Uptown and Preston Center assets attracted a surge of institutional capital in 2024-2026, with sale prices ranging from roughly $350/SF to over $747/SF for the best buildings, while overall metro vacancy remains elevated near 24-25% and Class B properties continue to post negative absorption. Asking rents hit a record high of $33-$34/SF full-service across the metro in early 2026, with Uptown commanding roughly $60/SF. The strongest leasing and investment activity is concentrated in Uptown, Preston Center, and the North Dallas Corridor, while the CBD and Las Colinas submarkets face ongoing headwinds from high vacancy and tenant consolidations.
What's driving Office prices in Dallas
Sale prices for Dallas office assets rose sharply for institutional-quality properties in 2025, with the two largest Uptown trades pricing at $639-$747/SF and total metro sales volume jumping from $107M in all of 2024 to $1.46B through August 2025, though distressed and Class B assets continued to trade at steep discounts or go to foreclosure.
- Trophy and Class A office vacancy in Uptown and Preston Center tightened sharply, with Preston Center availability at just 6.8% in H1 2026, creating significant rent and pricing premiums over the metro average
- Class B office posted 493,000 SF of negative net absorption in Q1 2026, widening the pricing gap between quality tiers and pushing commodity office cap rates above 7.5% to clear
- No new office deliveries in Q1 2026 for the first time in 30 years, reducing supply-side pressure in submarkets with strong demand and supporting rent growth of 6% year-over-year
- AT&T's planned exit of 2 million SF from Downtown Dallas by 2028 is expected to push CBD vacancy well above its current 33%, depressing values in that submarket
Market intelligence
Tracking this market · 8 comps · latest deal Sep 2025.
This quarter: 0 comps added to our corpus in Q3 2026. Trend medians use closed-deal dates from our growing comp corpus; automated estimates, not an appraisal.
Where these comps are
MomentumPins are geocoded from each comp's public address, so positions are approximate. Comps quoted at the submarket level aren't pinned. The shaded area is Dallas's municipal boundary, coloured to match the momentum read above.
Recent Office comps in Dallas, TX
| Address | Date | Type | Size (SF) | Price / Rate | $/SF |
|---|---|---|---|---|---|
| 2601 Olive Street, Dallas, TX (The Link at Uptown) news | Jul 2025 | Sale | 292000 | $218,000,000 | $747 |
| 2000 McKinney Avenue, Dallas, TX (Texas Capital Center) news | Sep 2025 | Sale | 457000 | ~$292,000,000 | ~$639 |
| 2100 McKinney Avenue, Dallas, TX news | Dec 2025 | Sale | 360000 | Undisclosed (~$170M+ financing) | |
| 8111-8117 Preston Road, Dallas, TX (Preston Commons) news | Nov 2024 | Sale | 427799 | ~$150,000,000 | ~$351 |
| 5949 Sherry Lane, Dallas, TX (Sterling Plaza) news | Jul 2025 | Sale | 313600 | Undisclosed | |
| The Connection at 8600, Dallas, TX (Iron Mountain Lease) listing | Q1 2026 | Lease | 95000 | ~$33-$37/SF/yr (market asking rate) | $33-$37/SF/yr |
| 4544 McKinney Avenue, Dallas, TX (Jones Day Lease) listing | Q1 2026 | Lease | 76000 | ~$50-$60/SF/yr (Uptown submarket asking rate) | $50-$60/SF/yr |
| 17950 Preston Road, Dallas, TX (Preston Plaza) news | Apr 2025 | Sale | 290000 | $13,850,000 | ~$48 |
| Median of 4 recent sales · $495/SF | $495 | ||||
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Figures are automated estimates derived from public listings, records, and brokerage announcements for Dallas, TX, not an appraisal or a broker opinion of value. Verify independently before relying on them. CompNinja connects owners with licensed local brokers; it is not a brokerage.