One Sliver Of North Texas Outpaces New York, LA, Philadelphia In Industrial Development
With 9.6M SF of industrial space under construction, one small portion of DFW — the northeast Tarrant County submarket — is blowing away the pipelines of New York, Los Angeles or Philadelphia, a new report from CoStar says.
This part of the DFW industrial submarket includes North Fort Worth and the 26,000-acre master-planned community AllianceTexas, and it is booming with industrial activity, according to CoStar Director of Market Analytics for DFW Paul Hendershot, who authored the industrial report.
The Northeast Tarrant County/AllianceTexas area in the past two years grew its industrial footprint by 19%, the equivalent of adding 8M SF, Hendershot said. It delivered 1.6M SF in the first half of this year, and now it has 9.6M SF in the pipeline.
Comparatively, New York, Los Angeles and Philadelphia have 5.1M, 5.4M and 7.6M SF of industrial space under construction, respectively.
While the area is flush with product, industrial vacancy rates in the submarket still remain stable at 9%, according to Hendershot.