Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
DFW Retail Reaches Pre-Pandemic Levels
DFW’s retail market has recovered from the pandemic-related losses of 2020, according to Weitzman’s new retail report. Matthew Rosenfeld, Weitzman EVP, recently weighed on the results.
Connect: The pandemic hammered occupancy in 2020. What about 2021?
Rosenfeld: DFW ended 2021 with 93.5 percent occupancy, the third-best result in 32 years. Leasing rebounded, nearly erasing the huge jump in vacancy in 2020. The pandemic is still with us, but retail has reacted with innovation to remain relevant.
Connect: What did leasing look like?
Rosenfeld: Leasing jumped in 2021, with strong demand for both small- and large-format spaces. Absorption totaled 3.9 million square feet, the third-strongest market in 22 years.
Connect: What about construction?
Rosenfeld: We set a record for the lowest level of new construction we’ve recorded, at only 640,000 square feet. Deliveries will increase in 2022 as H-E-B and others add new space. We also expect healthy leasing and occupancy this year.
- ◦Lease
- ◦Development
