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.”
Central Commercial Group 