How Your iPhone Fuels The Industrial Market
Corporate relos, job growth and the boom in e-commerce have fueled skyrocketing industrial demand in the Metroplex with no slowdown on the horizon. That’s why we’re pleased to host Bisnow’s fifth annual DFW Industrial event on Feb. 24 at the Westin Dallas Downtown.
DCT Industrial Dallas SVP Art Barkley says the industrial demand today is like nothing he’s ever seen. We asked him for a sneak peek of what to expect at Bisnow’s industrial event on Wednesday.
Bisnow: What do you think is the single biggest issue/challenge facing the DFW industrial market?
Art: Can demand continue at the torrid pace we’ve observed over the past several years? If it does, can we find land in the DFW Airport and Northwest submarkets that DCT prefers?
Bisnow: What do you think is the single biggest strength of the DFW industrial market?
Art: Dallas/Fort Worth has had a great job growth story for the past 20-plus years. We may have occasional dips along the way, but I see this trend continuing well into the future.
Bisnow: Your market insight?
Art: All DFW industrial metrics remain positive: lower vacancy rate amid record construction starts, fifth consecutive year of above average absorption and rental rates continue to rise.
Bisnow: What are you bullish on?
Art: Dallas/Fort Worth will remain one of the most compelling markets for corporate relocations; it’s one of the great US cities where everyone can get ahead.
Bisnow: Can you give us a quick rundown of your projects and deals?
Art: We delivered two spec buildings in 2015: DCT Freeport North, a 100k SF distribution building in the DFW Airport submarket, and DCT Frankford Trade Center, an 82k SF distribution building in the Northwest submarket. Both buildings were leased to single-tenant users shortly after delivery.
Bisnow: What do you have in your pipeline ahead?
Art: We have two spec projects under construction today: DCT Waters Ridge, a 347k SF bulk distribution building in the Northwest submarket, and DCT Freeport West, a 108k SF distribution building in the DFW Airport submarket. Tim Vogds with CBRE helped us pre-lease 55% of our airport building. Both projects are scheduled for summer delivery.
Bisnow: What’s your 2016 goal for the company and for you, personally?
Art: DCT will continue to expand our footprint in this market. We’re not interested in winning the pie-eating contest, we want well-located infill projects that will perform well over the long-term. On a personal front, my 14-year-old son wants to hook up with the old man for the Dallas half-marathon in December.