Halfway through this year, occupancy rates are up and new construction is down in Dallas-Fort Worth’s retail market, according to a report by Weitzman.
The details
Weitzman reported an occupancy rate of about 94.5% across DFW’s 200 million square feet of retail space. It’s the largest inventory for any metro area in Texas. Houston has the second-highest inventory with about 165 million square feet of retail space, according to the report.
DFW is also projected to reach another record low for new construction added. About 641,000 square feet is expected to be delivered by the end of this year. With limited deliveries, retail space remains tight, increasing demand and helping to keep occupancy rates stable.“It's what we call right-sized,” said Ian Pierce, Weitzman’s senior vice president of communications. “We don't have too much space for the demand we have, and we're staying that way because the construction [is] staying on the conservative side.”
