Retail

Retail real estate in Dallas-Fort Worth (DFW) is nearing its cyclical peak, and users that want to continue expanding in the metroplex are being hamstrung by a lack of quality space and surging rents. According to CoStar Group, DFW’s retail vacancy rate currently stands at 4.4 percent, a record low that the research firm expects to hold steady or even improve in the coming years. Rents have grown by more than 3 percent annually over the last five years, and are now 15 percent higher than their pre-recession peaks. Put simply, DFW is a landlord’s market. As such, retailers that have had success in the metroplex over the last decade and want to keep opening new stores should be considering other markets. One of the ideal landing spots for these users lies a mere 200 miles up Interstate 35 in Oklahoma City. According to CoStar, Oklahoma City’s retail vacancy has grown by approximately 100 basis points over the last two years, currently clocking in at 6.1 percent. There is very little new product under construction — less than half a million square feet — but asking rents in Oklahoma City average $14.40 per square foot, compared to $18.89 per square …