January 13, 2017
Dallas-area retail hit a couple of record heights in 2016 when it came to retail. Occupancy was at a record high of 92.6%, while the 3.8-million in absorption was the second-highest in 15 years (2015 outranked it, at 4.5 million square feet).
According to Weitzman’s Executive Managing Director Robert E. Young Jr., more of the same can be expected in 2017. Young, who presented information and findings at Weitzman’s annual forecast event on Jan. 11, pointed out that the DFW’s retail sector is currently characterized by a lower number of deliveries (2 million square feet added in 2016) and higher demand.
Young indicated the fundamentals would continue unchanged in 2017, and is forecasting occupancy at 93% or higher, with construction deliveries to top out at 3.4 million square feet. Absorption, he noted, will reach 4.0 million square feet.
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