Fort Worth’s office market is going west.
According to the JLL report, several new office projects are shifting Class A and “trophy” class office market properties west of downtown Fort Worth.
The growth of so-called “trophy” properties that command premium rates has helped drive up the rents, according to a new report from JLL.
According to the JLL report, the average asking rent was $29.92 per square foot in the second quarter, up from $29.51 in the first quarter and $28.79 a year earlier.
The “trophy” office projects currently under construction include Crescent Real Estate’s Crescent Offices West, which has JPMorganChase as an anchor tenant; Westside Village’s Jewel Box, Fort Worth’s first mass timber office building; and the Van Zandt from Goldenrod Companies, a mixed-use development on West 7th Street that includes 100,000 square feet of new high-end office space. Already open is The Offices at Clearfork, which has added 75,800 square feet of trophy space, with Wells Fargo anchoring the building, shifting its operations from downtown.
The Jewel Box project is the largest single office development that Fort Worth has seen in 40 years, according to Carl Anderson, president of Dallas-based Larkspur Capital. Larkspur, along with Robert Bass’s Keystone Group, are developing the $1.7 billion mixed-use project that will also have residential and retail components.
“The Class A office market in Fort Worth is virtually full, so there’s really not a lot of availability,” Anderson said on March 5 at the project’s groundbreaking. “We’re already trading term sheets on a lot of office space.” The Fort Worth office market is showing strength just as new projects are expected to add high-end options, particularly on the city’s west side.
The JLL report indicates that, halfway through 2026, the Fort Worth office market has now had four consecutive quarters of positive net absorption — that is, periods when the amount of newly leased square footage exceeds the space vacated.
New research from real estate firm JLL shows that vacancy rates across both Class A and Class B properties are steadily declining. No surprise then that rental rates are also showing strength. According to the report, the local office market is outpacing the national average for rental rates.
Bob Francis is business editor for the Fort Worth Report. Email him at bob.francis@fortworthreport.org.
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