Fort Worth Office Market Resurges

Fort Worth’s office market is showing signs of life after six years of declines.

In the first quarter 2025, the metro posted 94,118 square feet of positive net absorption, marking the first time since 2019 that more space was leased than vacated, the Dallas Business Journal reported, citing JLL.

The turnaround was driven by Class A leases, led by the United Football League’s 110,000-square-foot headquarters deal with Fort Capital in the Arlington Entertainment District, which the firm counts as part of Fort Worth’s suburban Arlington/Mansfield submarket. The UFL deal was the market’s largest lease in nearly two years.

Vacancy remained steady at 17.8 percent, and Class A space outperformed older Class B properties in five of the market’s six submarkets. The Arlington/Mansfield submarket led the charge in absorption, with flight-to-quality moves pushing newer inventory ahead of legacy offices.

Rising demand for high-end space and limited availability are pushing companies toward newer developments. Firms are increasingly rethinking their office needs to favor plentiful in-building and neighborhood amenities.

Downtown Fort Worth, Clearfork, the Cultural District and West Seventh are among the most sought-after submarkets, and Class A availability is at a record low.

A 50,000-square-foot office development in Clearfork is nearly 80 percent pre-leased, and more than 400,000 square feet of office developments are set to start this year in the Cultural District and Clearfork.

Wells Fargo is planning to exit its namesake downtown tower in a planned move to Clearfork, where it will anchor a Simon Property Group and Cassco Development Company mixed-use development.

Fort Worth has long lagged behind Dallas in terms of office leasing momentum, but the latest numbers suggest a shift. Large-block spaces are growing scarcer, and newer buildings are drawing tenants away from legacy towers. It portends continued shuffling within the market and fresh demand for premium office space.

— Judah Duke