Dallas-Fort Worth Retail Market Report
Nation-Leading Job Growth Nurtures Retail Landscape,
Despite Ongoing Tenant Demand Slide
Employment and demographic trends create an inviting climate. While net absorption cooled to 745,000 square feet during the first half of 2023, the 12.1 million square feet of newly-occupied space across the prior two years is more indicative of Dallas-Fort Worth’s long-term dynamics. Tenants spanning diverse retail segments are drawn to the Metroplex’s healthy and expanding consumer base, supporting positive sentiment despite the near-term softening. As of August 2023, local employment had grown to exceed the year-end 2019 mark by 462,000 personnel. No other market in the country added even half of that amount over the same span. A larger workforce signals greater consumer purchasing power throughout Dallas-Fort Worth, and the coinciding addition of 188,000 new households since 2019 reinforces the need for expanded shopping choices. Furniture stores, in particular, have been strong space absorbers recently, as new homeowners and renters need to furnish dwellings.