DFW retail vacancy decreases to 7.7 percent: CoStarDFW retail vacancy decreases to 7.7 percent: CoStarhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=67032013-08-05T08:07:00Z2013-07-31T08:45:00Z

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

The vacancy rate went from 8 percent in the previous quarter to 7.7 percent in 2Q 2013. Net absorption was positive 1,597,828 sf, and vacant sublease space decreased by 138,204 sf. In 1Q 2013, net absorption was positive 905,503 sf.

The largest lease signings occurring in 2013 included:

  • the 170,838-sf lease signed by Sam's Club at 1740 FM 157;
  • 70,000 sf signed by Terry's Market at Square 67, Bldg. 2; and
  • the 45,250-sf lease signed by Gander Mountain at Lakepointe Towne Crossing-Bldg. F.

Quoted rental rates increased from 1Q 2013 levels, ending at $13.52 per sf per year.

A total of 43 retail buildings with 448,521 sf of retail space were delivered to the market in 2Q 2013, with 3,784,145 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 6.7 percent from the previous quarter, with net absorption positive 23.11 million sf in 2Q 2013. Average rental rates increased to $14.50 per sf in 2Q 2013, and 593 retail buildings were delivered to the market totaling almost 9.6 million sf.

Read more at CoStar Group.

CoStar Group
Dallas-Fort Worth-Arlington
http://www.costar.com/news/article/market-trend-dallas-ft-worths-retail-vacancy-decreases-to-77/150688Read more at {Source}

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