I wanted to take a moment to share valuable information about the active tenants we are seeing in the marketplace. In general, absorption throughout Q4 and into Q1 has been very positive. Anything with a drive thru has been leasing and leasing quickly. Freestanding end caps and even new construction with drive thru’s has been leasing very rapidly. In addition, quick service restaurants have started to become more active again and especially focused on anything with a large patio given what’s happened through Covid. Pad site users have come back in full speed. Automotive, gas, fast food and anything medical service orientated related has been very, very active.
Secondly, I wanted to take a moment to talk about the most active areas within DFW. The 380 corridor is on fire. Anything along 380, north on Preston to Prosper, Salina, Frisco, etc. has been seeing massive growth and a massive demand from tenants. The Alliance corridor has also been on fire. Primarily given the industrial growth in the area, along with the single-family growth that we are seeing up there. Lastly, out east in Forney, there are a lot of new developments out there. Some new box developments and grocery developments have really driven the multi-tenant retail and pad demand in Forney.
Now, let’s talk about the light at the end of the tunnel with Covid. Last year we saw new construction completely halted across retail. The good news is we are seeing new shopping centers and new developments announced across the metroplex. We are excited to see Texas getting back to normal.
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