DFW retail space sees big gains in 2012

DALLAS-FORT WORTH – In 2012, the DFW shopping center market had its best year since before the economic downturn started, according to Weitzman Group.

Net leasing to expanding retailers totaled 3.8 million sf last year, the highest leasing total since 2004. Vacancy rates dropped to just over 10 percent.

Almost half of the increase in retail leasing came in community shopping centers, often anchored by supermarkets.

Mixed-use centers also had a good year, with overall vacancy rates falling to near 8 percent.

Big regional malls in North Texas saw strong leasing, with an overall vacancy at the start of 2013 at just 6.5 percent.

In 2004, net leasing totaled 4.8 million sf in North Texas. The record year was 2000, with more than 8 million sf. The bottom of the market came in 2009, when less than 500,000 sf of net retail leases were reported.

Less than 1.2 million sf of new space — most of it in just four shopping centers — was added to the DFW retail market in 2012.

The biggest chunk of new retail space, 432,000 sf, was in the Paragon Outlets shopping center in Grand Prairie.