It’s good to be a DFW landlord

With no shortage of grocery stores, fitness studios, restaurants and entertainment concepts looking to make their mark on Dallas-Fort Worth, development in the region has hit a new watermark.

Last year, developers added more than 3.5 million sf of real estate to North Texas, which brings the five-year total to 16 million sf of new retail real estate.

This comes at a time North Texas has seen an occupancy rate of more than 94 percent, which shows a lot of demand for retail space in the suburbs and in the redeveloped city core, said Daniel Taylor, CBRE’s managing director of retail for the south central United States.

Currently, the average asking rent in Dallas-Fort Worth is $14.57 per sf, triple net. However, leasing rates are climbing in sought-after submarkets, such as in Uptown or Knox-Henderson, to north of $80 per sf,​ Taylor said.