Industrial and Warehouse Building Breaks Record for Dallas-Fort Worth
Industrial and warehouse building are at record highs in the third quarter for Dallas – Fort Worth. Also 30% of those buildings under construction are already leased.
Industrial building construction has grown however; warehouse building vacancy rates have actually fallen 6% in the third quarter as well.
According to Dallas Morning News, “Growth of online retailing and consumer products firms have driven demand for more and more warehouse space in the D-FW during the last few years. North Texas is one of the country’s top markets for warehouse leasing and construction.”
Industrial and warehouse building construction is popping up towards DFW International Airport. Leases totaling almost 16 million square feet were signed in the first nine months this year. Of those leases the biggest were signed by:
- CU Medical
- Rooms to Go
- Benjamin Moore
Check out the chart below showing the Dallas- Fort Worth Industrial Market since 2014. Vacancies have dropped since then but the total net absorption to delivered construction ratio has evened out a little better in the past five years.