Industrial real estate in the Dallas-Fort Worth Metroplex is having a very good year. In fact, it’s safe to go as far as saying that industrial real estate throughout the region has been having a great decade. After posting Q3 results, the area has witnessed 44 consecutive quarters, or eleven straight years, of net positive industrial absorption.
And there’s still a lot of industrial space still on the way.
But where are the biggest projects being built? And exactly how big are we talking?
CBRE has provided REjournals with a list of the 11 largest industrial developments currently under construction in the Dallas-Fort Worth metro area, and the numbers are substantial. Between these 11 projects, the total combined area of new industrial space comes out to roughly 10.75 million square feet.
Nearly 11 million square feet is a lot of space to fill, but Dallas-area businesses are soaking up the industrial space as quickly as it is completed. According to the list, there are six projects currently under construction that will be 1 million or greater square feet in scope. The remaining five projects range between 800,000 square feet to 994,000 square feet.
The single largest industrial project under construction is the 1.163 Dalport Trade Center, Building G on Millers Ferry Road in Dallas. With an expected completion target of April 2022, the Class A building will join a cluster of other industrial properties at the DalPort Trade Center. At 1.095 million square feet, the Logistix Hub, Building 1 development in Hutchins is the second-largest industrial project under construction. It is targeting a May 2022 completion date.
Dallas and Hutchins are seeing the most action when it comes to big-box industrial construction. Three of the projects are in Dallas, three are in Hutchins, and two are in Lancaster. And not surprisingly, the bulk of the projects on the list will be for logistics and distribution uses.