Business

July 25, 2014

Retail occupancy rate rising across Dallas-Fort Worth

The Metroplex is expected to add nearly 2 million square feet of retail space at shopping centers this year, and most is already leased.

Vacant retail space across Dallas-Fort Worth is shrinking, even as new projects come online this year and next, according to a mid-year report by The Weitzman Group.

At the end of June, 90.5 percent of the retail space was occupied, up from 89.3 percent the same time a year ago, the report said. Weitzman looks at shopping centers with 25,000 square feet or more, which total about 188 million square feet.

“The occupany rate is a notable improvement compared to one year ago,” the report said.

This year, about 1.9 million square feet of space is being added, and most of that is already leased, the report said.

Leading the charge is the grocery store segment, the report said. This year and next, about 40 new traditional and specialty grocery stores are scheduled to open throughout the region.

Some notable projects in the Tarrant County area include the addition of 115,000 square feet at Alliance Town Center in north Fort Worth; the opening of the 154,000-square-foot Costco Wholesale Club in Presidio Junction, also in north Fort Worth; and the 185,000-square-foot Southlake Park Village at Southlake Boulevard and Carroll Avenue.

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