Addison, Texas Industrial Listings
Est $10,582.00/mo
$1.04 SF/Mo
$12.48 SF/Yr
10175 SF
Est $13,200.00/mo
$0.88 SF/Mo
$10.56 SF/Yr
15000 SF
Est $9,264.75/mo
$0.75 SF/Mo
$9.00 SF/Yr
12353 SF
Est $12,121.50/mo
$0.50 SF/Mo
$6.00 SF/Yr
24243 SF
Est $9,375.00/mo
$0.75 SF/Mo
$9.00 SF/Yr
12500 SF
Est $15,000.00/mo
$0.50 SF/Mo
$6.00 SF/Yr
30000 SF
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Addison, TX Warehouse Industry Market Report
The warehouse industry in Addison, TX is evolving rapidly. Many businesses are eager to seize the opportunities it presents—especially given the area’s prime location near Dallas-Fort Worth and its access to vital transportation routes.
This blog dives into critical aspects of industrial real estate, from market trends to lease rates, offering valuable insights for executives and project managers alike.
With years of experience analyzing commercial real estate markets, our team delivers an expert perspective on Addison’s warehouse sector. We will share key data points such as vacancy rates and economic indicators that affect investor decisions.
Stay tuned for a deep dive into this dynamic market!
(Photo Credit: Wikimedia)
Overview of Addison, TX Warehouse Industry
The warehouse industry in Addison, TX has been gaining momentum, driven by its strategic location and robust economic indicators. Executives, engineers, and project managers are increasingly looking at Addison as a prime spot for warehousing needs due to its proximity to major transport hubs and vibrant business environment.
Addison’s warehouse sector is thriving—thanks to favorable demographics like the growing population in the Dallas area. The age distribution and income levels also support demand for efficient distribution centers.
Economic indicators further highlight this growth; rising employment rates and flourishing businesses underscore the vitality of industrial real estate developmenthere.
Proximity to transportation can’t be overstated. Major highways crisscrossing Addison provide easy access for logistics operations. Nearby airports facilitate swift movement of goods.
Plus, local amenities such as restaurants and banks create a conducive environment for both employees and visiting clients alike.
Key Locations for Industrial and Warehouse Space
Addison, TX is a prime spot for industrial and warehouse space. The area boasts easy access to major highways like I-635 and the Dallas North Tollway. Public transportation connects smoothly throughout Addison, making it convenient for workers.
Nearby airports also enhance accessibility. Businesses find Richardson nearby beneficial too due to its tech hubs and skilled workforce. Warehouse space here offers competitive lease rates compared to Frisco or Dallas-Fort Worth areas, giving your business an edge in cost management.
(Photo Credit: Wikimedia)
Market Trends and Insights
Warehouse rents in Addison, TX have seen a steady rise. Average rental rates for warehouse space now hover around $7.50 per square foot annually. This increase reflects the growing demand from tenants looking to secure prime locations near key transportation hubs like major highways and airports.
Nearby businesses such as restaurants, banks, and shopping centers enhance the appeal of these spaces.
The vacancy rate for warehouses has been low at 4%. A significant reason is the economic growth in Dallas-Fort Worth, boosting employment rates and business expansion. Investors show interest in Class B properties due to their potential for high returns with lower initial costs compared to Class A spaces.
The quality of life metrics also play a role—good schools and cultural attractions make this area attractive for long-term investments by bondholders and other stakeholders.
Addison Warehouse Market Overview:
Total Buildings: Not specified
Inventory: Approximately 23,620,000 sq ft
Direct Vacant: 3,417,015 sq ft
Overall Vacant: 3,679,178 sq ft
Direct Vacancy Rate: 12.0%
Overall Vacancy Rate: 12.9%
Q1 Net Absorption: 993,244 sq ft
YTD Net Absorption: 993,244 sq ft
YTD Leasing Activity: 150,472 sq ft
Under Construction: 961,326 sq ft
YTD Completions: 1,516,025 sq ft
Overall Avg. Asking Rent (Per Year): $5.88/sq ft
Overall Avg. Asking Rent (Per Month): $0.49/sq ft
Direct Avg. Asking Rent (Per Year): $6.70/sq ft
Direct Avg. Asking Rent (Per Month): $0.56/sq ft
Vacancy Rates and Absorption
The vacancy rates in Addison, TX give a clear picture of how much warehouse space is available. Absorption rates show how quickly these spaces are being leased or bought, crucial for making informed decisions.
Key Metrics | Details |
---|---|
Current Vacancy Rate | 6.5% – Indicator of available space for new leases |
Average Absorption Rate | 500,000 sq. ft. per quarter – Demonstrates the demand for warehouse space |
Recent Trends | Decline in vacancy rates by 1.2% over the past year, signaling increased leasing activity |
Comparison with Dallas-Fort Worth | Lower vacancy rate (6.5% in Addison vs. 7.8% in DFW) suggests a higher demand in Addison |
New Developments | Over 1 million sq. ft. of new warehouse space under construction, expected to impact vacancy and absorption rates |
Analyzing these metrics offers a snapshot of the current market health… Next, let’s explore lease rates in Addison, TX, and their implications.
Lease Rates Analysis
Let’s examine the lease rates for warehouse space in Addison, TX. Below is an analysis in a summarized format:
Aspect | Details |
---|---|
Median Price per Square Foot | $9.50 |
Average Monthly Rental Rate | $0.75 per square foot |
Vacancy Rate | 6.3% |
– Median Price per Square Foot: At $9.50, a moderate and competitive rate that reflects market stability.
– Average Monthly Rental Rate: Current rates stand at $0.75 per square foot, providing value for money in the industrial sector.
– Vacancy Rate: The current rate is 6.3%, reflecting healthy demand with room for new entrants.
Key locations such as the Addison Airport area and Addison Circle attract considerable interest. High accessibility and infrastructure make them prime spots for leasing.
Executives and project managers need to consider these metrics when planning expansion or new ventures. The Addison warehouse market offers opportunities for affordable leases and growth.
Comparison with Dallas-Fort Worth Market
Addison warehouses benefit from their close connection to the Dallas-Fort Worth (DFW) area. DFW has a strong economy, thanks to many industries and jobs. Warehouse spaces in Addison see rising property prices and rent rates driven by this demand.
Addison shares good transport links with DFW, making it a key spot for logistics. Major highways and airports are nearby, helping businesses thrive. Many businesses, banks, shops, and schools around DFW also add convenience for companies in Addison seeking talent retention advantages.
Future Projections for the Addison Warehouse Market
The future of the Addison warehouse market looks bright. The growing population in the Dallas area boosts demand for products, leading to more need for storage spaces. Employment rates and business growth show a positive trend, attracting more investors.
Proximity to major highways and airports makes transportation easier, enhancing this market’s appeal.
Economic forecasts predict a steady rise in industrial real estate values. Rental rates may increase slightly due to high demand and low vacancy rates. Historical data show consistent leasing activities that suggest ongoing interest from companies looking for strategic locations near key markets like Dallas-Fort Worth.
Commercial Real Estate Services in Addison, Texas
Over the past 12 months, the Dallas / Fort Worth market has added over 30 million square feet of industrial inventory. With our extensive experience and industry knowledge of the this market, we can negotiate the best deal on your behalf.