CBRE: DFW retail market view 3Q 2014
DALLAS-FORT WORTH – The Dallas/Fort Worth economy has sustained strong economic conditions and continues as a popular location for retailers and businesses alike, according to CBRE’s 3Q 2014 Retail Marketview.
The total net absorption of 802,937 sf was a decrease of 355,369 sf from 2Q 2014. Overall, net absorption is still up for the year and has surpassed the 2013 total.
Delivered construction increased 318,501 sf over 2Q 2014 to 659,033 sf, almost double the amount delivered in 2Q 2014.
With Class A big box space in high demand, the market can expect to see more high-quality spaces entering the pipeline in 2014 and beyond, as well as the redevelopment of older and outdated properties.
Below are the five submarkets in DFW with the lowest vacancy rates.
| Market | Net Rentable SF | Total Vacant SF | Total Vacant | Avg. Asking Rent | 2014 YTD Total Net Absorption |
| East Dallas Outlying | 3,503,104 | 148,335 | 4.2% | $19.80 | -15,210 |
| Central Dallas | 9,106,345 | 398,071 | 4.4% | $19.94 | 54,406 |
| Near North Dallas | 21,084,243 | 1,289,007 | 6.1% | $14.60 | 48,759 |
| Mid-Cities (Fort Worth) | 50,036,310 | 3,393,793 | 6.8% | $13.55 | 789,934 |
| North Central Dallas | 30,244,311 | 2,165,516 | 7.2% | $15.24 | 145,412 |
| Total Dallas | 178,202,213 | 14,298,593 | 8.0% | $14.53 | 1,663,007 |
| Total Fort Worth | 95,225,567 | 7,111,601 | 7.5% | $12.45 | 1,454,350 |
| TOTAL DFW | 273,427,780 | 21,410,194 | 7.8% | $13.81 | 3,122,506 |
Source: CBRE Research
See CBRE’s Retail Report.
For more information on retail and other sectors, see DFW Market Data Sources.
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