by Dallas Morning News
The pandemic hasn’t cooled the demand for North Texas warehouse space.
If anything, COVID-19 has increased the need for distribution of consumer products.
Companies net leased more than 16 million square feet of Dallas-Fort Worth industrial space in the first half of 2020.
Tenants moved into almost 6 million square feet of local warehouses in the second quarter alone.
“The Dallas-Fort Worth industrial market proved to be quite resilient over the first half of the year,” said Kurt Griffin, executive managing director at commercial property firm Cushman & Wakefield. “Even as concerns over the pandemic and changing work patterns confronted us all, demand remained strong.
“We anticipate demand to remain elevated throughout the rest of the year as we are currently tracking multiple requirements for space in a wide variety of size ranges.”
Some of the biggest warehouse leases in the last three months were made by FedEx, Mars Petcare, AmeriPac and Union Supply, according to Cushman & Wakefield.
Two new distribution centers with more than 1 million square feet each were opened by Amazon near DFW International Airport and Goodyear in Forney east of Dallas.
So far in 2020, developers have completed about 15 million square feet of new North Texas warehouse space – less than the total net leasing.
Another 23.5 million square feet of industrial space was under construction in D-FW at midyear. And dozens more projects are planned.