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CBRE: 7M SF of retail construction adds jobs to DFW shopping cartCBRE: 7M SF of retail construction adds jobs to DFW shopping carthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=129812016-04-28T05:00:00Z2016-04-28T20:00:00Z

​​​DALLAS-FORT WORTH - Big-box retailers, entertainment destinations and grocers are circling DFW in hopes of landing a prime location.

That demand has developers constructing more than 7 million sf of new retail space, which will help meet a growing region that has added nearly 100,000 jobs in the last 12 months, said Daniel Taylor, managing director for CBRE's Texas and Oklahoma retail division.

Texas is at the top of everyone's radar screen because retail follows jobs, he continued.

North Texas' retail footprint had an occupancy rate is over 93 percent for the first quarter, which is the 22nd consecutive quarter with occupancy over 90 percent, according to CBRE research.

That dearth of supply has forced retailers to fuel their own build-to-suit projects throughout North Texas.

Meanwhile, Dallas and Austin are offsetting decreasing Texas sales tax revenue from energy-centric cities, such as Houston, Odessa, Midland and Corpus Christi, with moderate increases in allocations.

 
Dallas Business Journal
Dallas-Fort Worth-Arlington
Retail
http://www.bizjournals.com/dallas/news/2016/04/26/cbre-jobs-added-to-dfw-fueling-7m-sf-of-retail.html?iana=ind_cre

​Click to see​ the full CBRE​​ Retail MarketView 1Q 2016 (PDF).  See Texas retail under NewsTalk Texas​​.

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