When it comes to the leasing of industrial structures, Dallas-Fort Well worth is the undisputed king.
Fueled by amplified demand from the COVID-19 pandemic, the D-FW region has witnessed a surge in internet leasing of warehouse and distribution structures.
During the 12 months ending in September, internet leasing of North Texas industrial properties has totaled a staggering 32.6 million square ft, in accordance to facts from industrial assets business Cushman & Wakefield.
The D-FW spot experienced almost 5 million square feet of industrial house absorption in the 3rd quarter alone.
And for the total four quarters, North Texas significantly outpaced the No. 2 U.S. current market, Pennsylvania’s Interstate 78 and Interstate 81 corridor, which experienced 21.7 million sq. ft of net leasing during the 12-month period.
The Inland Empire market of Southern California rated 3rd in the annual comparison.
Nationwide, more than 61 million square ft of warehouse and distribution net leasing was recorded in the 3rd quarter.
“Despite the world pandemic resulting in financial turbulence, the U.S. industrial sector, with the continued support of tailwinds like e-commerce, has managed to accelerate as a result of the very first a few quarters of 2020,” Cushman & Wakefield analysts mentioned.
Together with major in leasing, the D-FW location is also the country’s top industrial making market, with pretty much 24 million sq. feet of warehouse and distribution tasks under building.
So much this year, virtually 23 million sq. feet of new North Texas warehouse space has opened its doorways.