D-FW Tops the Country in Warehouse Building and Leasing
Amazon, FedEx, Mars Petcare — the list of big 2020 warehouse leases in North Texas is growing. A steady stream of big industrial building deals this year made Dallas-Fort Worth the top market in the country for distribution and warehouse leasing. During the first six months of the year, more than 13 million square feet of net warehouse leasing has been recorded in D-FW, more than any market of the country, according to a new study by commercial real estate firm JLL.
“D-FW saw a great first quarter, followed by a strong second quarter,” Craig Jones, managing director of JLL, said in a statement. “Demand for quality industrial product was and remains strong in North Texas, and what we’re experiencing over these last few months is that demand amplified.”
With the pandemic, demand for e-commerce company warehouse space has grown by almost 50% of industrial building demand. “These solid fundamentals and the fact that e-commerce still has a long runway for growth makes industrial real estate the darling of the commercial real estate industry,” said Craig Meyer, president of JLL Americas Industrial.
The D-FW area also tops the country in warehouse building, with almost 23 million square feet of industrial building projects under construction. Most of the local warehouse construction is concentrated in North Fort Worth, near DFW International Airport and in South Fort Worth. “The amount of activity and development, particularly spec construction, is in line with what we’ve seen over the last few years,” Jones said...
