2023 Office Space Rent & Sales
- $35.05 2023 Avg. Asking Rent
- 1.25% Y-o-Y Avg. Asking Rent Change
- 21.80% 2023 Office Vacancy Rate
Southlake office price per square foot in 2023 was $35.05 on average. This marked a +1.25% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 21.80% across all asset classes combined.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Texas Class A & A+ Office Space$36.17
- Texas Class B Office Space$24.95
- Texas Class C Office Space$31.07
Southlake, TX Office Asking Rents by Class
Office Spaces for Rent in Texas
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2023 Office Construction in Southlake, TX
- Southlake, TX Total SF completed in 2023 205,987
During 2023, 205,987 square feet of new office space were delivered across the market. At the close of 2023, the Southlake office inventory included 2 buildings equal to or larger than 25,000 square feet, which comprised 205,987 square feet of office space.
| Office building | Address | SF | Completed |
|---|---|---|---|
| 181 W Southlake Blvd | 181 W Southlake Blvd, 76092 | 76,592 | 2024 |
| 2510-2560 E SH 114 | 2510-2560 E SH 114, 75092 | 8,000 | 2024 |
| 2510-2560 E SH 114 | 2510-2560 E SH 114, 75092 | 8,000 | 2024 |
| Granite Place II at Southlake Town Square | 601 State Street, 76092 | 143,524 | 2023 |
| 880 Village Circle | 880 Village Circle, 76092 | 8,000 | 2023 |
| Southlake Commons Office | 171 W Southlake Blvd, 76092 | 6,000 | 2023 |
| 116 River Oaks | 116 River Oaks, 76092 | 5,200 | 2022 |
| Pinnacle Point - Building 4 | 445 South Kimball Avenue, 76092 | 27,695 | 2020 |
| Pinnacle Point - Building 5 | 435 South Kimball Avenue, 76092 | 27,071 | 2020 |
| Pinnacle Point - Building 3 | 425 South Kimball Avenue, 76092 | 26,493 | 2020 |
Worth noting among recent office completions on the Southlake market is 181 W Southlake Blvd, which is currently the largest new office development in the city, at 76,592 square feet.
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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Southlake commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.