DFW retail market trend 4Q 2013: CoStar

DALLAS-FORT WORTH – The DFW retail market experienced a slight improvement in market conditions in fourth quarter 2013.

The vacancy rate went from 7.5 percent in 3Q to 7.3 percent in 4Q. Net absorption was positive 1,016,129 sf, and vacant sublease space decreased by 57,980 sf. In 3Q 2013, net absorption was positive 1,256,564 sf.

Quoted rental rates increased from third quarter 2013 levels, ending at $13.64 per sf per year.

A total of 21 retail buildings with 390,566 sf of retail space were delivered to the market in 4Q 2013, with 3,775,823 sf still under construction at the end of the quarter.

This trend is compared to the U.S. National Retail vacancy rate, which decreased to 6.6 percent from the previous quarter, with net absorption positive 21.28 million sf in fourth quarter. Average rental rates increased to $14.59, and 563 buildings delivered to the market totaling more than 10.4 million sf.

Read more at CoStar Group.