DFW shopping center vacancy drops low, construction slowDFW shopping center vacancy drops low, construction slowhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=52792014-01-13T07:34:00Z2014-01-13T00:00:00Z

DALLAS-FORT WORTH - Shopping center vacancies in DFW have dropped to the lowest level in almost ten years, thanks to a combination of strong leasing and only modest retail construction in 2013, according to Herb Weitzman, CEO of Weitzman Group.

The number of large vacant retail spaces in the DFW area went from about 140 in 2011 to fewer than 70 in 2013. Net retail leasing in the DFW area added up to about 2.7 million sf in 2013.

The largest chunk of retail construction in North Texas last year was grocery stores and strip centers anchored by new supermarkets. Grocers including Kroger, Trader Joe’s, WinCo, Whole Foods and Sprouts increased their retailing footprint in North Texas in 2013.

Alternative tenants including medical uses, entertainment and fitness centers would continue to have a larger share of DFW shop space.

Renovations of older shopping centers are revamping millions of sf of DFW retail space. Some of the larger projects include the Turtle Creek Village redo in Oak Lawn and the Village on the Parkway in Addison.

Dallas Morning News
Dallas-Fort Worth-Arlington
http://www.dallasnews.com/business/commercial-real-estate/headlines/20140108-d-fw-shopping-center-vacancy-drops-to-near-decade-low-as-retail-construction-slows.eceRead more at {Source}

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