Industrial Hits 31st Quarter of Positive Absorption
Investors are drawn to industrial properties such as the Northgate Business Park, significant due to its location in the North Dallas/Garland submarket, an established, strong and stable area in high demand.
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GARLAND, TX—The second quarter ending June 30, 2018 marks the 31st consecutive quarter of positive absorption for the Dallas/Fort Worth industrial market. Industrial occupiers took down just under 6 million square feet in the second quarter, bringing the year-to-date absorption total to nearly 10 million square feet, in line with mid-year absorption levels tracked during the past three years, according to the CBRE second quarter 2018 industrial MarketViews report for the Dallas/Fort Worth market.
The construction pipeline grew by 7.9 million square feet in new starts during the quarter to reach a new record–22.3 million square feet of new industrial and flex product is underway in DFW. New product totaled 6.4 million square feet and was 54.8% pre-committed, largely due to several build-to-suit properties delivering in the past 90 days. The market-wide vacancy rate was essentially unchanged, at 5.8% at the end of the quarter, GlobeSt.com learns.
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Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
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