Reprinted from CoStar Property
Net Absorption Positive 2,115,044 SF in the Quarter
By Bruce Meyers
November 8, 2013
The Dallas/Ft. Worth Industrial market
ended the third quarter 2013 with a vacancy rate of 7.8%.
The vacancy rate was down over the previous quarter, with net absorption totaling positive 2,115,044 square feet in the third quarter. That compares to positive 3,906,950 square feet in the second quarter 2013. Vacant sublease space decreased in the quarter, ending the quarter at 1,570,719 square feet.
Tenants moving into large blocks of space in 2013 include: Walmart.com moving into 788,142 square feet at Alliance Gateway 11, Sygma Network moving into 552,600 square feet at Southwest Crossing Logistics Center, and American Hotel Register moving into 214,960 square feet at Frankford Trade Center – Bldg 6.
Rental rates ended the third quarter at $4.96, an increase over the previous quarter.
A total of nine buildings delivered to the market in the quarter totaling 529,589 square feet, with 7,285,211 square feet still under construction at the end of the quarter.
This trend is compared to the U.S. National Industrial
vacancy rate, which decreased to 8.3% from the previous quarter, with net absorption totaling positive 50.37 million square feet in the third quarter. Average rental rates increased to $5.31 this quarter, and 202 industrial buildings delivered to the market totaling more than 22.4 million square feet.
November 13, 2013