Preston Oaks Center is an example of the grocery-anchored site that retains popularity (credit: Regency Centers).
DALLAS/FORT WORTH—DFW retail occupancy is at or near capacity, according to Weitzman's recent retail report. The report divides the metroplex into 42 retail submarkets. In 2019, a record 36 submarkets reported strong occupancy above 90%.
In contrast, only 17 submarkets reported occupancy that reached or exceeded that level a decade ago. In the past, there would be booming new-growth submarkets in Collin County or North Fort Worth at 95%–while at the same time, long-established urban markets and outmoded retail centers were lucky to break 85%, the report observes.
Today's market switch stems from the fact that DFW leads the country in new multifamily units with nearly 140,000 new units since 2010, according to CoStar. That market-wide residential growth has created retail demand and boosted existing retail centers.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
