DALLAS – A new report from Cushman & Wakefield shows the North Texas industrial market had 5.3 million sf of net absorption in fourth quarter 2016, leading the nation in demand for industrial space.
Overall, tenants absorbed nearly 23.7 million sf in North Texas last year—43.2 percent more than in 2015.
Leasing activity totaled 31.5 million sf at the end of last year, 11.2 percent below the 2015 total.
Vacancy was down by 0.6 percentage points year-over-year to 6.9 percent.
Construction completions totaled nearly 22.4 million sf at the end of the year, 45.9 percent more than the same time the year before.
Just under 17.1 million sf of new industrial space is in the pipeline. Of that, 86.8 percent is being built on spec.
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