Industrial Mid-Year Report_Q2 2019_FINAL
Cushman &Wakefield Dallas/Fort Worth
DFW Airport
The DFW Airport industrial submarket has a central location with excellent access to several major transportation arteries, an abundant supply of labor and multiple area amenities. The area consistently enjoys high tenant demand and investor interest for warehouse/distribution space. The submarket’s inventory stock is composed of both fee simple ownership and DFW Airport ground leased developments. Since 2015, demand has kept up with new supply and the DFW Airport 380
submarket has played a leading role in absorption for the overall DFW market. The submarket’s lack of developable infill sites along with strong leasing Airport to open the southern end for ground leased development in 2017. Developers have aggressively taken advantage of this opportunity, breaking ground on over 8 MSF since, 82% of which has been speculative product. 75 velocity on the northern side of the airport motivated DFW
DFW AIRPORT LEADS THE GREATER DFW INDUSTRIAL MARKET IN MID-YEAR ABSORPTION AND DELIVERIES, WITH 3.3 MSF AND 3.4 MSF RESPECTIVELY. DENTON
35
35E
LITTLE ELM
380
CORINTH
35W
FRISCO
ALLEN OBSERVATIONS & TRENDS
HIGHLAND VILLAGE
75
PLANO
MURPHY • DFW Airport’s mid-year net absorption of 3.3 MSF accounts for 30% of greater DFW market’s mid-year net absorption • Of the 4.5 MSF currently under construction in the submarket, 4.3 MSF (95%) is speculative product HIGHLAND PARK • Consistently high tenant demand in the submarket continues to fuel increased construction activity, the submarket absorbing over 13 MSF in the last three and a half years • Southern DFW Airport ground leased product accounts for 73% (3.3 MSF) of the submarket’s current construction activity DALLAS 30 • The submarket’s spike in development activity is a direct result of DFW Airport officials awarding eleven different developers ground leased sites, encompassing +/- 1,000 acres with over 14.5 MSF of potential development – 8.4 MSF of which has already delivered or broken ground 30 635 12 75 80 75 RICHARDSON
35E
121
FLOWER MOUND
E
114
ADDISON
SOUTHLAKE
CARROLLTON
35E
121
GRAPEVINE
635
FARMERS BRANCH
DFW AIRPORT
114
635
TH LAND LS
360
COLLEYVILLE
114
121
12
BEDFORD
EULESS
35E
183
183
IRVING
820
360
30
30
GRAND PRAIRIE
ARLINGTON
12
35E
FORNEY
45
12
175
46 Q2 2019
20
BALCH SPRINGS
12
20
20
20
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