Q2 2018 marks the 31st consecutive quarter of positive absorption for the Dallas/Fort Worth industrial market.
Industrial occupiers took down just under 6 million sq. ft., bringing the year-to-date absorption total to nearly 10 million sq. ft., in line with mid-year absorption levels seen over the past three years.
The construction pipeline grew by 7.9 million sq. ft. in new starts over the quarter to reach a new record – 22.3 million sq. ft. of new industrial and flex product is underway in the Metroplex.
Product coming online totaled 6.4 million sq. ft. and was 54.8% pre-committed, largely due to several build-to-suit properties coming online the past 90 days.
The market-wide vacancy rate was essentially unchanged over the quarter and was observed to be 5.8% at the end of Q2 2018.