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Despite a recognition the economy started to fall at the end of the first quarter on coronavirus shutdowns and fears, Dallas-Fort Worth industrial assets marked another strong quarter, a new report from CBRE says.
It was the 38th straight quarter of positive industrial net absorption, the commercial real estate firm reported.
DFW absorbed 6.2M SF of industrial space in the first 90 days of 2020, while the vacancy rate fell by nine basis points from the fourth quarter of 2019 to 5.7%, compared to the average market rate of 8%, CBRE noted.
Total industrial product under construction reached 23.9M SF, with 19.3% of that supply pre-committed.
It's still unknown how the coronavirus and its impact on the economy will affect the industrial sector moving into the second, third and fourth quarters of 2020.
But, the local industrial space — particularly DFW's strong supply of infill and e-commerce logistics hubs — is expected to weather the storm better than most CRE asset classes.
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