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Industrial market rebalances with an uptick in development
The Dallas–Fort Worth industrial market is finishing the year with stable net absorption and lower vacancy. The construction pipeline, which totaled 32.0 million square feet (msf) in Q4 2025, is up 13.9 msf from one year ago. The rise in construction along with strong leasing activity illustrates another year of growth in 2026. The breakdown of the current under-construction pipeline is 63.2% speculative and 36.8% build-to-suit product. The higher percentage of build-to-suit projects compared to historical figures continues to show developer and lender risk aversion even amid relatively healthy tenant demand.