Declining vacancy and strong absorption hint at market rebalancing

For the first quarter since mid-2022, the Dallas-Fort Worth industrial market observed a year-over-year vacancy decline, falling 80 basis points (bps) to 10.3%. Consistently strong absorption through the first half of 2025 has helped lead the charge as the market has recorded 13.0 million square feet (msf) of occupancy gains through Q1 and Q2. A still robust construction pipeline will continue to catalyze positive net absorption as build-to-suit projects such as Crow Holdings’ 1.4-msf DrinkPak facility are completed. In fact, build-to-suit projects made up nearly 40.0% of the square footage delivered in the second quarter.

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