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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.
- ◦Lease
- ◦Sale/Acquisition
- ◦Development
