CBRE: Why DFW wants 6M SF of new retail spaceCBRE: Why DFW wants 6M SF of new retail spacehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=140482016-09-03T05:00:00Z2016-09-03T19:45:00Z

Dallas-Fort Worth - With retailers clamoring for retail real estate, developers plan to build nearly 6 million sf of new retail space in the region—the most construction to get underway in North Texas since the recession.

The Henry, a restaurant concept from Phoenix, will open its first Texas restaurant at The Union in Dallas, where it will sit within a high-profile portion of the project in 10,000 sf of space.

In second quarter 2016, North Texas absorbed 2 million sf of retail real estate with historic occupancy levels sitting at 95.1 percent, which is the 23rd consecutive quarter for such positive absorption, according to CBRE's latest research​.

The average cost of retail real estate in North Texas is $15.13 per sf.

Other trends in retail real estate:

  • Restaurants becoming anchors to retail-driven developments because they are big draws in the community
  • Grocery stores are offering restaurant-style services
  • Redevelopment is underway within the urban core bringing multi-level retail to Dallas
  • Rents continue to rise for well-located retail real estate
  • Big-box retail developments are under construction along the 380 corridor, such as Lowe's and Home Depot stores

Dallas-Fort Worth is also seeing a lot of new retail construction in mixed-use developments, such as The Union Dallas near Victory Park, Wade Park in Frisco and Legacy West in Plano.​

Dallas Business Journal
Dallas-Fort Worth-Arlington

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