Cushman & Wakefield Reports DFW Still the Warehouse Building Leader
A recent survey published by Cushman & Wakefield showed North Texas leading the country in warehouse building, but due to higher interest rates and construction costs, the growth rate may slow.
The region is responsible for 70 million square feet of growth for warehouse and distribution centers. Most of the new construction is in southern Dallas County and in the AllianceTexas area of North Fort Worth. Overall, the region more than doubled warehouse real estate development in just one year, with over 30 warehouse projects completed in the second quarter alone.
Vacancy rates dropped to 24%, down 70 basis points from Q1 2022. Project deliveries were up 76% and projects under construction are up 18% since the beginning of 2022.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.