The spiking construction costs for new retail in cities like Prosper and Celina have caused rents to jump from the mid-$30s per SF to as much as $50 per SF.
A Kia dealership and a tire store will constitute the first wave of development at the Turnersville site. Ricoh renewed its 280K SF lease in Bethlehem.
Dallas-Fort Worth’s retail market at mid-year 2018 had an occupancy rate of 92.5%, one of its highest rates over the past three decades.
The portfolios of most retail landlords across the country are full, but the historic urge to build seems unlikely due to tariffs and elevated interest rates.
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