Home > Market Updates, Uncategorized > Dallas Ft. Worth industrial 3Q 2010

Dallas Ft. Worth industrial 3Q 2010

The overall DFW industrial vacancy rate ticked up to 12.2 percent in third quarter 2010, from a revised 12.1 percent at mid-year.

The direct industrial vacancy rate edged up to 11.7 percent in 3Q, from a revised 11.5 percent at mid-year.

Industrial Market Highlights:

  • Net absorption: Negative 528,000 sf during 3Q 2010. YTD net absorption totals positive 292,000 SF, compared to negative 5.5 million sf in 2009.
     

  • Sublease space: 3.4 million sf at September 2010, down from a revised 4.0 million sf at mid-year. Available sublease space represents 0.5 percent of the standing inventory.
     

  • Vacancy rate: Overall vacancy rate ticked up to 12.2 percent in the 3Q 2010, from a revised 12.1 percent at mid-year. The direct vacancy rate edged up to 11.7 percent in the 3Q, from a revised 11.5 percent at mid-year.
     

  • Space under construction: There is 614,286 sf under construction in the Metroplex at 3Q, up from 106,124 sf at mid-year, but down from 2.0 million sf a year ago. Space currently under construction is 8 percent preleased.
     

  • Space delivered: 65,778 sf in 3Q 2010, at 24 percent leased upon delivery. In 2010, 1.9 million sf has delivered at 58 percent leased upon delivery.
     

  • Rents: Warehouse/Distribution asking rents declined just 0.5 percent in 3Q, as the market began to firm. They have dropped 3.5 percent in the first nine months of 2010.Flex asking rents have fallen 5 percent in 2010, as this product type’s market fundamentals continue to weaken. Manufacturing rents have risen 5 percent in 2010 due to very low vacancy.
     

  • Investment sales: Delta recorded just $19.0 million of industrial investment sales in 3Q 2010 (for which pricing data was available). Delta’s recorded YTD total in 2010 is only $36.9 million.

Update C ourtesy of Transwestern

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