DALLAS-Texas is a land of firsts, but this is one that the metroplex could do without. For the first time since Q1 1998, the retail market of Dallas, Denton and Collin counties has experienced negative absorption, according to a midyear report from Dallas-based Roddy Information Services.

The reason, George Roddy Sr. tells GlobeSt.com, is two-fold: Montgomery Ward and Sears Homelife closings and the highest sf of completed projects in nine years. In the first six months of the year, completions added 2,779,530 sf to the 112,416,000-sf inventory the tri-county area, which represent 67% of the retail market in the Dallas-Ft. Worth metroplex. That’s 118,780 sf more than at midyear 2000, which closed with more than six million sf coming to market, says Roddy. Some of last year’s completed retail space is still waiting to be filled, he says. Completions coupled with big-box shutdowns puts the three-county region at a negative absorption of 1,117,208 sf.

“The numbers are not necessarily indicative of what it will be this time next year,” Roddy explains. “These are fairly serious one-time declines.”

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