Weitzman Predicts Record DFW Retail Occupancy Rates
In 2023, Dallas-Fort Worth’s retail market experienced the highest occupancy rate in more than 40 years, and retail center owner Weitzman says 2024 will be even better. The company presented its annual forecast in Dallas last week and conveyed a bullish message.
Dallas-Fort Worth finished the year with a record-high occupancy rate of 95.2%, 1.8 million square feet of space absorbed and more than 1 million square feet of new construction. The new record comes after occupancy rates exceeded 94% for the first time in Weitzman’s history in 2022. And for 2024, Weitzman expects the retail market to remain stable and end the year at 95.8% leased.
Weitzman says most new construction will come from grocery store chains and other anchor stores, such as H-E-B, Kroger Marketplace, Tom Thumb and Sprouts. At least 14 new grocery stores will open in 2024 or be under construction.
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.