Dallas-Fort Worth has padded its lead as the country’s top industrial building market.
Almost 67 million square feet of warehouse and distribution space was under construction in North Texas in October. That’s a new record for the D-FW area and the most of any U.S. metropolitan area, according to the latest estimates from Yardi Systems.
Construction in North Texas far surpassed second-ranked Phoenix with about 47 million square feet of industrial building.
“Dallas’ market expansion showed no signs of slowing, with local development pipeline nearing 67 million square feet,” according to Yardi Systems’ new CommercialEdge industrial report. “While the market’s current construction pipeline is set to boost its industrial footprint by 7.8%, stock planned for the market that has yet to break ground could bring that increase as high as 13.1%.”
Nationwide, almost 714 million square feet of industrial building was recorded in October.
The Dallas area is also one of the country’s leading markets for industrial building sales. Through the end of October, more than $4 billion worth of industrial properties in the area have changed hands — the third-highest total in the country.
Industrial building activity in North Texas has more than doubled since the start of the COVID-19 pandemic as online shopping and consumer product demands have grown.
The current volume of industrial construction in the D-FW area is more than the space in all the high-rise buildings in downtown Dallas.
