North Texas industrial building jumps highNorth Texas industrial building jumps highhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=67172013-07-30T09:45:00Z2013-07-30T00:00:00Z

DALLAS-FORT WORTH - DFW industrial construction has almost doubled in the last year, thanks to the growing local economy and increasing population in the region.

The rebound in warehouse development has even outpaced the local office market, which is seeing its own building boom. More than 10.5 million sf of warehouse space is in the works.

Industrial development in North Texas still has not caught up with its levels before the recession hit. In 2007, almost 15 million sf was in the construction pipeline.

“You had much more speculative construction back then,” said Cushman & Wakefield senior director Jean Russo. “Most of this space is already leased.”

Cushman & Wakefield estimates that about 60 percent of the industrial development underway in North Texas has been rented by major companies including Quaker Oats, BMW, Restoration Hardware, Target and Ace Hardware.

The biggest share of current warehouse construction is north of DFW International Airport in Irving and Coppell and in southern Dallas County in the I-20 corridor.

As of midyear, net industrial leasing in the region was running about 50 percent ahead of its pace at the same time in 2012, according to Cushman & Wakefield.

Area wide vacancy rates have inched below 10 percent.

Dallas Morning News
Dallas-Fort Worth-Arlington
http://www.dallasnews.com/business/columnists/steve-brown/20130725-north-texas-industrial-building-activity-jumps-to-highest-level-in-six-years.eceRead more at {Source}

 Search NewsTalk Texas