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DFW Industrial Sector Makes First 2002 Slip

DALLAS-The bottom line was one million sf of overall negative absorption. Still, vacancy is 9% for the 632.1-million-sf inventory. The Q3 engines are the DFW Airport and Alliance Airport, the only submarkets with positive rent growth and absorption.

By Connie Gore | Updated on November 17, 2002

DALLAS-For the first time this year, Dallas-Fort Worth has gotten a negative reading on its industrial barometer. It comes as no surprise that two submarkets–both near airports and sporting plenty of new product–were the only ones showing positive readings in the third quarter, according to Grubb & Ellis Co.’s Dallas research team.

The backslide was a slap of one million sf to take vacancy to 9% across the board. It was a quarter of “mixed signals,” the research team says of the 632.1-million-sf inventory and its Q3 showing. “While recent industrial activity bled red ink, metroplex vacancy remains below 10% and has been faring well in the face of a weakened national economy,” researchers wrote in the latest industrial report to come to market.

The negative number was felt mainly by older product. The newer buildings in and around the DFW Airport and Alliance Airport in North Fort Worth posted 821,547 sf to the positive in sharp contrast to the Great Southwest Industrial Park’s red ink of 564,413 sf.

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