Q2 Marked Another Record for North Texas Industrial Construction
By Spencer Brewer – Staff Writer, Dallas Business Journal
The North Texas industrial market is slowing, but still pacing above its historical average. While there are economic headwinds bearing down on the market, North Texas appears well positioned to handle them.
There has been an increase in vacancy, which tracked at about 5% in the second quarter. This is still well below the market’s historic average, said Jake Marks, principal at Trammell Crow Company. Should vacancy increase to 6% or 7%, it’ll still be a landlord's market.
Marks spoke with the Dallas Business Journal about what’s coming next for the North Texas market:
There has been a lot of talk about how DFW can weather economic headwinds better than other markets. Why is that?
There are many reasons. First of all, you’re in Texas. The business friendly climate, the taxing structure is such an engine for our economy. As it pertains to Dallas-Fort Worth, we’re more diversified. Other parts of the state may be more impacted by, for example, fluctuations in energy. Dallas-Fort Worth is not like that. When one industry may be slowing, typically another one is moving more quickly.