Retail occupancy rate hits 92.4 percent in Dallas-Fort Worth despite rise of online shopping

Dallas-Fort Worth’s historically overbuilt retail real estate portfolio is holding up against digital challenges and benefiting from retailers not constructing as many stores.

The region will reach its most stable level ever next year — a 95 percent occupancy rate — as existing shopping centers look like better options to developers and stores, according to Weitzman’s annual retail real estate report released Tuesday.

“Land, construction and borrowing costs are going up,” said Bob Young, executive managing director at Dallas-based Weitzman, a commercial real estate firm. “Retail anchors aren’t building new stores. They’d rather backfill or redevelop existing space because of lower costs and a shorter time frame.”

Maria Halkias, Retail Writer

Link to Full Story

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s