Summary: "Experts say the retail real estate market is breaking occupancy records in the Dallas and Fort Worth area." "Retail markets are posting balances of supply and demand that outpace every other major commercial real estate category." Example: Costco in Weatherford, “It’s no secret that Weatherford and Parker County are growing at an unprecedented rate, and with that comes opportunities"
Latest update: 07 February, 2024Select #Tags for additional articles: #AreaGrowth
DFW retail real estate shatters four decade record. And it's coming our way. Hint: Costco in Weatherford.
"Experts say the retail real estate market is breaking occupancy records in the Dallas and Fort Worth area." "Retail markets are posting balances of supply and demand that outpace every other major commercial real estate category." Example: Costco in Weatherford, “It’s no secret that Weatherford and Parker County are growing at an unprecedented rate, and with that comes opportunities"
• DFW retail real estate shatters four decade record. Grocery stores lead the way, Fort Worth Report, 17 January 2024
Despite ups and downs, and more than 150 retail bankruptcies as part of a trend recently dubbed the “retail apocalypse,” experts say the retail real estate market is breaking occupancy records in the Dallas and Fort Worth area.
[In 2023] The Dallas-Fort Worth retail market surpassed the highest occupancy rate ever recorded. Starting out the year, the area is seeing a 95.2% occupancy rate — the highest since 42 years ago in 1981, which reached 94.8%.
What type of retail spaces have the lowest vacancy in Fort Worth?
Community 3%
Neighborhood 4.5%
Mixed-use 2.93%
Power centers (outdoor centers with more than three big box stores) 3.01%
Malls 10.35%
• How Retail Became Texas’ Strongest Commercial Real Estate Category, RE Business Online, 09 August 2023
The major Texas metro areas of Austin, Dallas-Fort Worth, Houston and San Antonio all share one thing in common: Their retail markets are posting balances of supply and demand that outpace every other major commercial real estate category.
But now retail has right-sized, with occupancy rates in our markets now at or near record highs. This right-sizing has resulted due to a yearslong trend of conservative volumes of new retail deliveries combined with healthy demand from brick-and-mortar retailers that have evolved with personalization and innovations like digital marketing and curbside pickup.
• Costco to build new store in this North Texas town by 2025, bringing 230 jobs to area, Fort Worth Star Telegram. 26 January 2024
Costco Wholesale is expanding in North Texas, adding a new store in Parker County. The bulk grocery and retail company is building a new location in Weatherford at the northwest corner of Interstate 20 and Center Point Road. Construction on the new facility begins this summer and is expected to be completed by early 2025. Costco’s new 160,000-square-foot facility is anticipated to bring over 230 jobs to the area. “It’s no secret that Weatherford and Parker County are growing at an unprecedented rate, and with that comes opportunities,” Weatherford Mayor Paul Paschall said in a press release. “When we look at growth, we seek valuable development that will enhance the quality of life for our residents, and the addition of Costco accomplishes that with bringing quality jobs, a wonderful amenity, and an excellent community partner.”
• Costco Wholesale Adding New Location In Weatherford, Texas, Mineral Wells Are News, 24 January 2024
• Construction on Weatherford Costco expected to start this summer, Weatherford Democrat, 24 January 2024
• DFW Retail Market Hits All-Time High Occupancy in 2023, Even Greater Potential in 2024, D Magazine, 16 January 2024
• 'The new frontier': Here's how growth may play out in Parker County, Dallas Business Journal, 08 May 2023
Parker County, located west of Fort Worth, hosts about 11,000 acres of land in its eastern portion that lies within the region’s path of growth. That's where the county and its EDC are banking on a wave of commercial and residential development.
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