Mesquite makes the list of top places for industrial building leasing in DFW
D-FW warehouse construction soars to new record high | Real Estate | Dallas News
North Texas' booming industrial market has hit a new high.
A record 30.1 million square feet of warehouse space was under construction in the first quarter, thanks to new building starts in the first few months of 2019.
The surge in industrial development in Dallas-Fort Worth is being fueled by a combination of distribution centers for e-commerce companies and growing demand for consumer products as the D-FW population grows.
Most of the new warehouse construction is in the AllianceTexas area north of Fort Worth, near DFW International Airport and in the Great Southwest Industrial district in Grand Prairie and Arlington, according to a new report from Cushman & Wakefield.
Big industrial building leases by companies including Stanley Black & Decker, Ashley Furniture and Thirty-One Gifts are helping fill all the recently built warehouse space.
"The D-FW industrial market continued to exhibit healthy growth over the first quarter of 2019 with more than 5.2 million square feet of positive absorption," said Cushman & Wakefield executive managing director Kurt Griffin. "This strong demand exceeded new construction deliveries of 5 million square feet and overall vacancy declined slightly to 7 percent."
More than half of the warehouse space under construction in D-FW is already built.
"Given the number of active requirements currently seeking space, we anticipate market fundamentals to remain in equilibrium throughout the balance of the year," Cushman & Wakefield executive managing director Nathan Orbin said.
Most of the net industrial building leasing this year has been in AllianceTexas, the Great Southwest Industrial District and in Mesquite.