DALLAS – At midyear, 8.4 percent of North Texas shopping and retail space was empty, according to Weitzman Group.
The last time the shopping center market was so tight was in 1984 when 8 percent of the market was vacant, the Dallas-based real estate firm said.
"We are blessed with growth and thousands of new jobs," Bob Young, Weitzman Group executive managing director. "I really don't see any red flags for DFW's retail market."
At the worst of the recession in 2009, about 14 percent of the local shopping center market was empty.
About two million sf in new and expanded shopping projects are scheduled to open this year. That's down roughly 25 percent from last year.
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