Thursday, July 09, 2015

Dallas-Fort Worth shopping center vacancy at lowest level in 15 years

The number of empty storefronts in the Dallas-Fort Worth area has dropped to the lowest level in 15 years.  
Only about 9 percent of North Texas retail space was empty at midyear, according to a new report by Dallas-based Weitzman Group.
That’s the best showing for this market since 2000.
With the tightened shopping center markets, builders are ramping up construction.
This year more than 3.8 million square feet of new retail space is in the pipeline for North Texas – almost double the construction volume last year. It’s the best retail building total for the D-FW area since 2008, according to Weitzman.
Most of the new construction is for supermarkets, big box retailers and regional mixed-use projects.   
Steve Brown/ Dallas Morning News