Vacancy continues to rise as new deliveries increase supply

The Dallas-Fort Worth industrial market continues to see rising vacancy rates as new deliveries come online. Vacancy increased to 10.6% in Q1 2024, representing a 400-basis-point increase year over year. The market saw 14.7 million square feet (msf) of new deliveries for Q1 2024, which was a slight year-over-year increase; however, it was a decrease compared to the prior quarter. The construction pipeline remains high with 30.9 msf of space currently under construction. Given the high under-construction pipeline with the majority of this being speculative development as new deliveries come online, vacancy will likely continue to remain high.

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