Industrial Mid-Year Report Q2 2020

75

Cushman &Wakefield Dallas/Fort Worth

380

FRISCO

Garland ALLEN 75

PLANO

MURPHY

OBSERVATIONS & TRENDS

ISON

RICHARDSON

• Attractive for its proximity to abundant labor

75

30

GARLAND

• Diverse product type, ranging from multi-tenant office showroom/flex to warehouse distribution and manufacturing space • Most of the submarket’s current vacancy consists of older building stock built in the 70’s and 80’s SELECT MARKET ACTIVITY & NEW DEVELOPMENTS – Pratt leased and occupied 145,967 sf at IDI’s Garland Logistics Center, a first-generation 494k sf rear-load building at 3800 Leon Road in Garland. – SYNNEX Corporation leased the full 117,206 sf of Huntington and TA Realty’s Building A at Shiloh Business Center, a first-generation cross-dock building at 1601 S Shiloh Rd in Garland.

635

12

HIGHLAND PARK

30

75

DALLAS

80

MESQUITE

35E

FORNEY

45

12

175

20

BALCH SPRINGS

2

20

HUTCHINS

35E

175

45

LANCASTER

WILMER

35E

– LINK and Huntington’s Marquis Business Center is set to deliver at the beginning of Q3. The speculative, two-building project consists of two cross-docks (171k & 184k sf) and is located on Marquis Drive in Garland.

MARKET SUMMARY

2012 2013 2014 2015 2016 2017 2018 2019 YTD 2020

41.8

41.8

41.8

42.3

42.3

43.5

44.4

44.7

44.7

Inventory (MSF)

Overall Net Absorption (MSF)

164,421 (382,809) 767,445 847,506 778,076

1.2

294,337 654,254 660,618

10.3% 11.3% 9.5% 8.8% 7.0% 7.2% 7.9% 7.0% 5.3%

Overall Vacancy

33,620

23,474

22,000 639,684

0

1.5

789,400 249,097

0

Completions (MSF)

23,474

0

167,440

0

1.4

764,400 249,097 355,071 355,071

Under Construction (MSF)

54 Q2 2020