Class B and C properties are the beneficiaries of the investment dollars, with the median selling price now standing at $77 per sf or an increase of $2.50 per sf over 2001's average.But, the market's give and take has resulted in the check for a multi-tenant property dropping from $4.3 million to $3.4 million, the report said.

The research team concluded the high level of deliveries in recent years has deterred institutional investors from looking in the DFW region when it comes to buying retail, unlike what has been occurring of late in the office and multifamily markets. The availability of financing, though, will continue to feed the appetite of private investors.

"The favorable long-term economic outlook and consistent strength of in-migration will continue to drive demand for housing and ultimately for retail development well into next year," Tim A. Speck, the firm's regional manager in Dallas, said in a press release. More jobs, more housing and more suburban retail will deliver as the DFW tries to lead the race to rebound from two years of economic hardships. Roughly 53,000 new jobs are forecast from corporate and personal relocations despite the "languishing telecom industry and slowing construction," researchers said.

In 2003, another three million sf of retail will rise as Texans show their willingness to shop and spend. This year, 3.2 million sf was added. The norm, though, has been five million sf to eight million sf. As a result of the construction check, vacancy overall is expected to be 10.6% or a drop of 0.4%, said the team. Vacancy in neighborhood and community centers is slightly less than 10% while strip centers are holding at 13%.

The team said rent averages $14.50 per sf. Rent at grocery-anchored centers rose 3% in the past year. Neighborhood and community centers pushed up 4.5% to $14.95 per sf and strip centers went up 2.7% to $12.42 per sf.