Real estate
BY COLBY FARR
Frisco sees increase in commercial real estate in 2024
Grocery stores drove new construction in Dallas-Fort Worth’s retail market while the area maintained its occupancy record set in 2023, according to Texas-based real estate rm Weitzman’s latest annual forecast. In Frisco, new businesses such as Uniqlo, a Japanese clothing store, contributed to a growing retail market. In 2024, Frisco also saw a new H E B open along US 380, which follows the Weitzman forecast trends. The full story Dallas-Fort Worth nished 2024 with a retail occupancy rate of 95.1%, 2.4 million square feet of space absorbed and 1.5 million square feet of new construction, according to the report. The occupancy rate in 2024 matches the record previously set in 2023 and continues an 11-year run of occupancy rates measured above 90%. Inventory increased to 199.9 million square feet in 2024, while vacancy hovered around the same
level as the previous year, according to the report. New development remained conservative despite the increase from 1 million square feet delivered in 2023, Weitzman Executive Managing Director Robert Young said. “This limited development is another reason our retail market remains so tight and that leasing is so strong in existing centers,” Young said. In 2025, the report projects retail occupancy will grow to 95.6% with 2.7 million square feet of space absorbed and 2.7 million square feet of new construction deliv- ered. Much of the new construction will be driven by new stores from Kroger, H E B, Tom Thumb, Costco and other anchor retailers. “DFW’s retail market has never been stronger in terms of balanced supply and demand,” Young said. “Retail development today is truly based on the fundamentals of population growth, housing growth, job growth and economic viability. This is clearly a recipe for sustainable high occupancy.”
Weitzman Executive Managing Director Robert Young speaks during the 2025 Weitzman Annual Forecast.
COURTESY WEITZMAN
Frisco’s commercial real estate in square feet Commercial real estate Vacancy
10,863,034
322,444
11,714,372
272,910
SOURCE: WEITZMAN COMMUNITY IMPACT
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