{{titleBar.title}}

{{titleBar.tagline}}

 

 

Developers struggling to meet North Texas retail demandDevelopers struggling to meet North Texas retail demandhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=201282018-05-15T05:00:00Z2018-05-15T15:00:00Z

​​​DALLAS – Despite developers bringing more than 21 million sf of new space online over the past five years, vacancy has retreated to a near decade low. 

According to a ​Marcus & Millichap report, an average of 75,000 people have moved to the Metroplex in each of the past five years, producing strong demand for retailers. 

Around 4.4 million sf of retail space is predicted to come online in the area in 2018. While completions will remain above the five-year average, deliveries are below last year's 5.5 million sf of retail space.

Marcus & Millichap expects vacancy will fall for the ninth consecutive year in 2018, dipping 20 basis points to 4.9 percent. 

Rent growth is predicted to slow this year, increasing 2.2 percent to $16.80 per sf. That rate ends the year 12 percent above the 2008 peak. ​

Marcus & Millichap
Dallas-Fort Worth-Arlington
Retail
Read more at {Source}

 Search NewsTalk Texas