Dallas-Fort Worth Tops Market for New Industrial Construction in North America
Dallas-Fort Worth (DFW) was the top market in North America for large-warehouse construction with 49.7 million square feet of space under construction in 2021, according to a new report from CBRE. Approximately 35.3 percent of that product was preleased as industrial demand continued to surge across the metroplex.
Overall, according to the report, DFW was named a top-10 growth market with a 6.8 percent growth rate in 2021. The metroplex was also ranked in the top 10 for existing inventory (423.8 million square feet) and lease transaction volume (44.5 million square feet)
Transactions for big-box warehouses, those of 200,000 square feet or larger, hit new highs in 2021, as retailers added safety stock to limit supply chain disruptions and continued to meet online shopping demand. This category recorded 450 million square feet of transactions in the top 23 North American markets last year, up significantly from 350 million square feet in 2020. The study includes markets with more than 75 million square feet of big-box product.
Erik Hamilton, who has more than 15 years in CRE journalism, is a former staff writer with the Los Angeles Times and the Orange County Business Journal. In addition to The Times and the OCBJ, he was also a reporter and editor for Crittenden Research, The San Bernardino Sun and UPI. Erik also worked six years in CRE public relations with Los Angeles-based Hoyt Organization, where he was a Senior Account Executive. He later joined Lee & Associates where he served as the Director of Corporate Communications. There ,in addition to his work with Lee’s CEO, he managed 57 offices nationwide and provided PR, social media and media training for the offices. A graduate of UC Irvine, with a BA in history, he is an avid record collector where he continues to search for a rare Joy Division single.
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