Dallas Fort Worth has some incredible vacancy rates. I pulled this data from a study compiled by Scotia Capital. The study focuses on Canadian Real Estate and uses the United States as a benchmark for its own market trends.
The conclusions are fairly self evident. No other major metropolitan area has had office vacancies on the scale that Dallas and Fort Worth have. We seem to hover around the 25% mark while almost every major market can more easily maintain vacancies around half of ours. This, of course, is a serious issue for local landlords. But take a look at the Industrial vacancy rates. We really are second only to Detroit. It’s a relatively sad day when you realize that Rust City is the only major market that can best our industrial shortfalls.
We know that DFW has a strong residential real estate market. We take pride in that at every chance we get. But these are real economic indicators which surely will only be heightened for some time to come. I can’t imagine being in commercial real estate a point such as this. In fact, it would appear that Dallas Fort Worth might be one of the toughest markets to compete in.
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