Q2 2024 Dallas Industrial Market Report

With an inventory of over 1.2 billion square feet, the Dallas-Fort Worth (DFW) industrial market is only second to Chicago in terms of total square feet. At 9.6 percent, vacancy rates increased slightly from the first quarter of 2024. New construction continues to boom with 22.7 million square feet underway, reflecting strong demand driven by e-commerce, logistics, and manufacturing. Build-to-suit projects are increasing, especially among e-commerce and logistics firms. Demand for last-mile delivery facilities is pushing developers towards urban centers.

As other industrial markets soften, DFW continues to expand. Leasing activity remains robust with rents increasing to $9.76 per square foot. The market shows resilience with strong absorption rates and balanced supply and demand. DFW’s strategic location, transportation network, and business-friendly environment continue to attract businesses.

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