Retail rebound in DFW, vacancy drops

DALLAS-FORT WORTH – At midyear 2013, only 10.7 percent of North Texas shopping center space was empty, according to the Weitzman Group. Vacancy levels in local retail properties are at the lowest level since mid-2007.

Recent leases by Belk, Alamo Draft House, Nordstrom Rack, Fitness Connection, Sprouts Farmers Market, Whole Earth Provision Co., Stacy Furniture, Sears Hardware, El Rancho Grocery and other merchants helped fill shopping space that was left empty during the economic downturn.

There are about 1.5 million sf of retail space in the construction pipeline — an increase from 2012 but still below historic peaks in building.

“Our retail market is seeing a notable increase in new projects, largely anchored by grocery stores,” said Weitzman Group founder Herb Weitzman. “But by historic standards, new space is extremely limited, and that helps our existing centers gain in occupancy.