Office leasing accelerated across the Dallas-Fort Worth market in the second quarter of 2026, with stronger tenant demand pushing leasing activity well above recent averages while available space continued to tighten, according to Savills.
The market recorded 4.0 million square feet of leasing activity during the quarter, a 23.9% increase from a year earlier. The gain was driven largely by corporate relocations and expansions across multiple industries, reinforcing the region’s position as a major business hub.
Leasing Activity Tops Recent Averages
The North Dallas Corridor led the market with roughly 1 million square feet of signed leases during the quarter.
Among the largest transactions were Mercury One’s 172,230-square-foot lease in Las Colinas and Welltower’s 140,519-square-foot lease in Preston Center. Overall leasing activity exceeded the market’s five-year quarterly average of 3 million square feet.
High-Quality Offices Continue to Command Higher Rents
Demand for premium office buildings continued to lift asking rents.
Average asking rents rose 4.1% year over year to $34.44 per square foot, while Class A rents increased 5.7% to $38.75 per square foot. Uptown remained the region’s most expensive office market, with average asking rents exceeding $60 per square foot.
Preston Center also posted strong rent growth as leasing activity increased and available space became more limited.
Office Availability Continues to Tighten
Overall office availability fell to 26.0%, down 210 basis points from a year ago, as companies leased space and the volume of sublease space continued to shrink.
Sublease availability declined by 2.5 million square feet over the past year as tenants occupied existing sublease space and some listings returned to the direct leasing market.
While several suburban markets continue to face elevated availability, Preston Center remained one of the tightest office markets in the region, highlighting continued demand for well-located, high-quality office space.
