The Dallas-Fort Worth area has among the strongest economies in the country by a number of metrics, and that success is revealed in part by the proliferation of grocery retailers in the area, according to Texas-based real estate consulting firm Weitzman Group.
The 2024 Weitzman Annual Forecast shows that two new H-E-B stores that opened in the Dallas-Fort Worth metro area in 2023 accounted for nearly a quarter of the new commercial retail space built.
“Based on current projects in the works for 2024, we expect new retail space deliveries to increase notably due to large anchor spaces planned by H-E-B, Kroger, Tom Thumb, Costco, Target, large-format entertainment anchors, and others,” the report noted. “If projects announced for completion in 2024 open as expected, the market will see deliveries of approximately 1.9 million square feet – double the 2023 total.”
Weitzman noted that the D-FW metro area is the nation’s fastest-growing region. Its population grew by more than 423,000 residents between 2020 and 2023, the report noted, quoting statistics from the Texas Demographic Center.
“During 2023, the D-FW economy remained one of the strongest in the country by several measures. The U.S. Bureau of Labor Statistics reports that the market totals approximately 140,000 net new jobs in the 12 months ending November 2023. D-FW currently ranks as the top job generator in the U.S., the BLS reports job growth is a strong 3.2%, and the current unemployment rate is a healthy 3.8%,” the report noted.