D-FW’s hot industrial building market is starting to cool

Net industrial leasing in D-FW in the second quarter totaled about 7.8 million square feet — down about 20% from a year earlier. Industrial leasing was well below the peak of almost 12.6 million square feet of demand in the fourth quarter of 2021, according to Transwestern.Nationwide, net industrial leasing fell by more than 40% year over year in the second quarter, according to a new study by Jones Lang LaSalle.

But Berry said the number of prospective tenants “is not where it was two or three years ago. Demand is not frothy by any means.” “That’s probably what’s needed right now,” Berry said. “There is a lot still in the construction pipeline we’ve got to see if we can absorb.” “We are probably at the lowest construction start level that I’ve seen since probably 2013 or 2014,” said Sean Dalfen, CEO of Dallas-based Dalfen Industrial. “There are some areas of Dallas that are overbuilt — that’s without question.”

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