If you can’t figure out why the DFW housing market continues to remain so strong, consider the fact that industrial leasing all over our region set a new record in 2016. And in a nutshell, more industrial leasing means more jobs; and more jobs equal a much stronger demand for homes, condos, and apartments.
According to a report released by commercial property firm CBRE, over 25 million square feet of net warehouse and industrial property was leased around DFW in 2016, which as mentioned is a record high. And as first reported by the Dallas Morning News, that’s 2.6 million more square feet than the previous record, which was recorded all the way back in 1999.
Southern Dallas County saw the largest growth in warehouse and industrial leasing, recording 5.5 million square feet for the year. North Forth Worth wasn’t far behind, however, which saw the second highest growth in industrial leasing and registered 5.4 million square feet of space rented over the past 12 months.
Local real estate developers have also recognized the upward trend in industrial leasing and construction for 22.7 million more square feet of industrial and warehouse space was also completed in 2016, which is the highest level of new development in that category for any given year in North Texas.