D-FW shopping center space remains tight even with some stores closing.
Most of the new construction is for fully-leased grocery-anchored shopping center projects. Closures of North Texas stores by retailersaren’t expected to significantly increase vacancies, according to Weitzman’s estimates.
“The Bed Bath & Beyond bankruptcy resulted in closures totaling approximately 375,000 square feet of retail space in D-FW,” Weitzman researchers report. “And the Tuesday Morning failure is resulting in closings totaling approximately 225,000 square feet in D-FW.“Together, these new vacancies represent less than one-half of 1% of the market’s retail inventory,” the report said.
Only 641,000 square feet in new and expanded retail space is expected to open this year in D-FW – one of the lowest new supply totals in more than 30 years. of retail space was added to the North Texas market, the lowest total Weitzman has ever recorded for D-FW.Tight lending and higher interest rates have kept speculative shopping center construction at a minimum. Most of the store space being added in D-FW is for new locations for
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