The Dallas CRE Market at a Glance
CBRE reported 25.0% office vacancy across its Dallas Fort Worth market in Q2 2026, down from 25.7% in Q1. Net absorption turned positive at approximately 939,000 square feet after a negative 1.2 million square feet in Q1, mostly driven by occupancy in Class B space. These metro figures show improving demand alongside substantial remaining vacancy. They do not describe every Dallas office building or submarket.
CBRE's Dallas Fort Worth industrial survey reported 8.3% vacancy in Q2 2026, down from 8.5% in Q1. Industrial net absorption reached 9.9 million square feet for the quarter while 6.8 million square feet was delivered. The office and industrial figures describe different property types and should not be compared as though they measure one market.
For a Dallas borrower, the property's own income and leasing situation matters more than a metro average. An office refinance needs verified leases, tenant improvement obligations, operating expenses, and a plan for vacant space. An industrial purchase calls for a review of tenant commitments, competing inventory, and a realistic lease up schedule. These market figures are CBRE's research, not CapitalAx deal flow; CapitalAx's role is to organize the transaction and compare financing options.
Dallas Market Stats at a Glance
Published market research for Dallas, Q2 2026. Check each source's coverage and methodology before applying a metro figure to a property.
DFW office vacancy
25.0%
CBRE, Q2 2026; down from 25.7% in Q1.
DFW office net absorption
939,000 sq. ft.
CBRE, Q2 2026; rounded from approximately 938,684 sq. ft.
DFW office asking rent
$34.79 / sq. ft.
CBRE, Q2 2026; see source for survey definition.
DFW industrial vacancy
8.3%
CBRE, Q2 2026; down from 8.5% in Q1.
DFW industrial net absorption
9.9M sq. ft.
CBRE, Q2 2026.
DFW industrial deliveries
6.8M sq. ft.
CBRE, Q2 2026.
Sources and methodology
Figures are attributed to the research firms above, not CapitalAx transaction data. Their office and industrial surveys cover different property types and should not be compared directly. CapitalAx's financing analysis is separate from those firms' findings.
What Fuels Dallas Capital Demand
Local employers and infrastructure that can influence different property types.
Business Employment
Office demand depends on the actual employers, leases, and competing space around a property, not on metro wide relocation headlines.
Logistics Infrastructure
DFW International Airport and regional highways connect Dallas warehouses with customers and freight networks. Building specifications and location still determine tenant fit.
Housing and Services
Residential development can affect neighborhood retail and multifamily demand. Lenders review local occupancy and nearby competing projects before relying on a growth narrative.
Financial Services
Banks, insurers, and other employers use office space across the metro. A particular building's lease terms and tenant credit carry more weight than the sector's presence.
Technology and Telecom
Technology and telecom users have different requirements for offices, data centers, and industrial facilities; their presence alone does not guarantee demand for a specific property.
DFW Airport and Trade
Airport activity can support industrial and hospitality uses, but financing depends on documented tenant or operating performance.
Property Types and Financing Considerations
How financing needs differ by property type across Dallas and the surrounding metro.
Industrial Financing
Industrial lenders review tenant commitments, building specifications, competing supply, and lease up risk alongside the broader Dallas Fort Worth vacancy figures.
Learn MoreMultifamily Financing
Apartment underwriting depends on actual occupancy, concessions, operating expenses, and competing units near the property.
Learn MoreOffice Building Financing
Dallas Fort Worth office vacancy makes building level leasing, tenant improvements, and realistic refinance proceeds particularly important to evaluate.
Learn MoreRetail Financing
Retail financing calls for a close look at the rent roll, anchor tenants, lease expirations, and local customer base.
Learn MoreMixed Use Financing
For a project with multiple uses, each income stream and construction or lease up phase needs its own underwriting assumptions.
Learn MoreHotel Financing
Hotel lenders review actual occupancy, operating results, franchise obligations, and renovation needs rather than relying on metro travel demand.
Learn MoreWhy Dallas Borrowers Come to CapitalAx
Why borrowers and investors in Dallas seek commercial financing and how CapitalAx structures solutions for each scenario.
Lease Up and Stabilization Capital
A newly delivered building may need financing that accounts for vacant space, leasing costs, reserves, and a plausible path to permanent financing.
Construction Financing
Ground up projects need supportable budgets, timelines, sponsor capacity, and realistic leasing or sale assumptions.
Permanent Financing on Stabilized Assets
A refinance request starts with current leases, operating statements, property condition, and existing debt terms.
Investor Portfolio Growth
Investors can compare DSCR and portfolio options based on property cash flow and the structure of their holdings.
Owner Occupied Business Property
An eligible business buying its own space can compare conventional financing with SBA programs based on property use and business performance.
Loan Programs That Move Dallas Deals
These are the lending programs most frequently matched to deals in the Dallas market through our 350+ lender network.
Bridge Loans
Bridge capital may fit a lease up or repositioning that cannot yet qualify for permanent financing. The exit plan and cost matter.
Learn MoreConstruction Loans
Construction financing depends on the development budget, sponsor experience, permits, and projected demand for the finished space.
Learn MoreAgency Loans
Fannie Mae and Freddie Mac programs may fit eligible stabilized multifamily properties, subject to program and property requirements.
Learn MoreCommercial Mortgage
Permanent financing for eligible stabilized Dallas properties can come from banks and other capital sources after property level underwriting.
Learn MoreDSCR Loans
DSCR investor loans evaluate property cash flow for qualifying rental investments.
Learn MoreSBA Loans
SBA 7(a) and 504 programs may fit eligible businesses buying owner occupied property.
Learn MoreTools for Dallas Investors
Commercial Mortgage and Loan Amortization Calculator
Calculate commercial mortgage payments, total interest, and a month by month loan amortization schedule.
Deal Feasibility Analyzer
Analyze whether a commercial real estate deal pencils before you commit capital.
Max Loan Calculator
Find out the maximum loan amount your property can support based on income and expenses.
Commercial Land Value and Acquisition Calculator
Calculate land price per acre, usable acreage, total project cost, leverage, and required equity.
Other Texas Markets
Explore commercial real estate markets near Dallas where CapitalAx arranges financing.
How Market Data Shapes Lending Decisions
A Dallas office building may have a different tenant mix and vacancy outlook than a building elsewhere in the Dallas Fort Worth survey. CBRE's metro figure cannot establish the property's rent, value, or available loan proceeds. Verify leases and request local comparables before sizing the financing request.
For a building with vacant space, prepare a realistic lease up schedule, tenant improvement budget, operating reserves, and exit plan. For a stabilized property, reconcile the rent roll, expenses, existing debt, and maturity date before comparing refinancing offers.
Different lenders evaluate the same deal through different program requirements and exposure limits. CapitalAx's role is to assemble the property information, assess program fit, and compare available options. None of the published market averages represents a financing commitment.