DFW developers building 6M SF of new retail space?

​​​​DALLAS – With retailers clamoring for retail real estate in Dallas-Fort Worth, 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.

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.​