Q4 2024 Dallas Industrial Market Report

The Dallas-Fort Worth (DFW) industrial market is undergoing a period of rebalancing, with vacancies peaking due to elevated move-outs and an influx of new supply. Despite cooling demand, DFW remains the nation’s leader in tenant activity, though 2024 is on track to be the weakest year in over a decade. Over 110 million square feet of new space have been delivered since early 2023, nearly half of which remains available.

While rent growth has slowed, landlords continue to push pricing in infill submarkets. Tighter lending conditions have led to a decline in speculative construction, setting the stage for a supply-demand recovery in 2025. As vacancy rates plateau, landlords and tenants alike will see shifting market dynamics favoring occupiers in the near term before stabilizing later in the year.

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