By Steve Brown, Dallas Morning News
Despite challenges of storefront retailing in the e-commerce age, Dallas-Fort Worth shopping center vacancies are starting out 2016 with the lowest vacancy in 31 years.
Only about 8 percent of North Texas’ retail space is now empty, according to the latest shopping center industry survey by Weitzman Group.
The commercial real estate firm has been tracking the D-FW retail market for 25 years.
And 2015 had the lowest overall vacancy since 1984, company officials said Tuesday.
“Last year was only the second time in six years the vacancy has dipped under 10 percent,” Weitzman Group’s Bob Young, managing director of the commercial real estate firm, said Tuesday morning. “We saw the equivalent of two regional malls going from fully vacant fully leased over the year.
“This better occupancy is the result of strong leasing and limited construction,” Young said.