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Dallas Industrial/Warehouse Space In-depth
Dallas, Texas is the ninth largest city in the United States with a population of 1.2 million, and over 5.7 million in the greater Dallas area. The population of Dallas is very diverse, well educated and highly productive. The Dallas area is a 9,000-square-mile urban center located near the geographic heart of the United States, equally acce... Read More
Dallas Industrial/Warehouse Space In-depth
Dallas, Texas is the ninth largest city in the United States with a population of 1.2 million, and over 5.7 million in the greater Dallas area. The population of Dallas is very diverse, well educated and highly productive. The Dallas area is a 9,000-square-mile urban center located near the geographic heart of the United States, equally accessible to both the East and West coasts. Within the U.S., 79 markets can be reached overnight from Dallas by truck or rail. And the Metroplex puts you right in the geographic center of the North American continent’s four major business centers: New York, Los Angeles, Toronto and Mexico City.
Dallas is the 4th largest industrial space market in the nation due to its central location. The area is connected by major Interstate arteries, several airports, an extensive rail line system, and the nearby Gulf of Mexico freight ports. Dallas is just over 3 hours away by air from the major cities in the three nations of Canada, Mexico and the United States. No other city offers that convenience.
The economy in Dallas is thriving and has contributed to a rapidly growing number of new industrial business start-ups and the expansion of existing industrial enterprises needing Dallas industrial space. This growth has prompted the renovation and expansion of existing industrial parks and the development of new industrial districts with industrial space in Dallas. The demand for the ideal location and leasing conditions that Dallas industrial space offers is strong and competitive, although this could change if the national economy sours.
The Northeast Dallas industrial space market has had notable industrial projects come online during the first quarter of 2008. First Garland Business Park added 435,179 square feet to this submarket. Also, Northgate Distribution Center #18 added another 535,380 square feet of Dallas industrial space. Meanwhile, the Great Southwest/Arlington Submarket delivered the Grand Lakes II industrial center, one of the largest speculative facilities ever to be developed in the Dallas area, which brought in 1,060,075 square feet of industrial space. Also, 161 Pioneer Distribution Center was added during the quarter and brought another 603,354 square feet.
The Dallas Morning News has cited various analysts who believe the 2008 outlook for the Dallas industrial space will weaken as it is believed that the slowing economy may be have more problems than first imagined. This will help tenants find better lease rates for Dallas industrial space.
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