Fast rates of growth in North Texas have produced the demand necessary to drive fast rates of construction for retail.
"Only about 9 percent of North Texas retail space was empty at midyear," which is the lowest retail vacancy rate since 200, reports Steve Brown. The data, from a new report by Dallas-based Weitzman Group, also explains increased levels of construction in the region. According to Brown, "more than 3.8 million square feet of new retail space is in the pipeline for North Texas [this year] – almost double the construction volume last year." That's the most retail building in the D-FW area since 2008, according to the report.
"Most of the new construction is for supermarkets, big box retailers and regional mixed-use projects," adds Brown.
Read the full story: Dallas-Fort Worth shopping center vacancy at lowest level in 15 years
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