DFW industrial market year-end 2012: Transwestern

DALLAS-FORT WORTH – Transwestern has released its fourth quarter 2012 industrial outlook for the Dallas-Fort Worth area.

Highlights:

• Net absorption totaled 2.2 million sf during fourth quarter 2012 and totaled 8.3 million sf during 2012.
• Vacancy rates declined to 9.6 percent at year-end 2012, from 9.7 percent at 3Q 2012 and 10.5 percent a year ago. The direct industrial vacancy rate declined to 9.4 percent at year-end 2012, from 9.5 percent at 3Q 2012 and 10.2 percent one year ago.
• Space under construction: There is 4.6 million sf of industrial space under construction or renovation in the Metroplex at year-end 2012, up from 1.4 million sf at 3Q 2012 and 1.1 million sf at year-end 2011. Space currently under construction is 62 percent preleased.
• Rents: Stronger market conditions enabled landlords to push industrial rents higher in 2012. The warehouse/distribution sector represents a majority of the industrial inventory and experienced rent growth of 4.4 percent during 2012.