News
A TALE OF RETAIL WOES?
November 10, 2010
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| While the DFW economy is in better shape than most markets, years of spec building and the lingering impact of the recession will delay vacancy improvements until 2011, reports Marcus & Millichap in its Q3 '10 DFW retail sector analysis. As of Q2, nearly 32M SF of retail space stood vacant in the Metroplex, almost equivalent to the amount of new product brought online in the last five years. Thus, operators will continue to trim rents to compete for tenants. Rent reductions will be most aggressive in newer strip centers in outlying areas. Northeast Tarrant County, for instance, has received nearly a quarter of the metro?s new neighborhood center space since 2005, and area owners have struggled to lure smaller tenants. National chains, however, are and taking advantage of high-traffic sites: Best Buy moved to Addison and Crate & Barrel will relocate to Plano. In addition, Aldi grocery stores (pictured) is opening several new stores, absorbing vacant blocks. |
