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Texas  + Dallas-Fort Worth  + Retail  | 
Marshall Mills

DFW Retail Emerges from Depths of COVID

Weitzman’s new analysis of DFW’s retail inventory shows a market emerging from the depths of the pandemic. Marshall Mills, Weitzman’s president and CEO, recently discussed the market outlook with ConnectCRE.

ConnectCRE: Last year was all about pandemic fallout. How does 2021 look so far?

Mills: DFW retail has stabilized at 92 percent occupancy as we emerge from the pandemic. That’s a record nine consecutive years for DFW occupancy above 90 percent.

ConnectCRE: What factors created the stability?

Mills: Retail follows rooftops, and DFW is seeing record residential construction and sales. We’re also a leading metro for population growth. That creates retail demand but there’s no new space overhang. New deliveries of 577,000 square feet on track for 2021 would represent the lowest annual construction Weitzman has ever recorded.

ConnectCRE: What is the 2021 outlook?

Mills: We expect 2021 to end with an uptick in occupancy, and 2022 to see both construction and occupancy increase.

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Inside The Story

Marshall Mills

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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