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Market Report

Dallas-Fort Worth Retail Market Report

2Q 2023

Supermarkets Sprout in Suburbs to Accommodate
Population Expansion; Retail Outlook Stays Strong

Sizzling sector begins to cool amid an economic softening. Dallas-Fort Worth’s retail segment has performed exceptionally well in recent years amid robust population and employment gains. Fueled by the net in-migration of more than 190,000 new residents over the past two years, the Metroplex’s population has grown by over 310,000 people since the end of 2020. Vendors cognizant of this have eagerly expanded their footprints to access more consumers. As a result, net absorption exceeded new supply by 5.7 million square feet across 2021-2022, lowering retail vacancy by 170 basis points. This year, however, space availability will nudge up as economic headwinds prompt some vendors to recalibrate expansion plans.
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