In fact, the 2019 occupancy rate was the region’s highest in 38 years — representing 93 percent of the total 200.5 million square feet, according to Dallas-based Weitzman’s 2020 Shopping Center Survey & Forecast.

“Our strong occupancy is not a fluke,” said Robert E. Young Jr., Weitzman’s executive managing director. “This is the most geographically balanced retail market we’ve seen in our history. Almost every single one of our submarkets is healthy.”

Among Dallas–Fort Worth shopping centers measuring at least 25,000 square feet, all indicators increased in 2019 from the previous year, except for construction: New and expanding centers last year totaled some 1.8 million square feet of construction, only about half the 3.5 million square feet for 2018. Weitzman is forecasting approximately 1.9 million square feet to be under construction in the region this year, including the roughly 500,000-square-foot Epic West Towne Crossing, in Grand Prairie, east of Dallas. This drop is natural as retailers continue to cut back on building new space to focus instead on combining in-store and online sales, Young says.

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All shopping center categories reported occupancy rates upwards of 90 percent. Mall occupancy climbed to 90.6 percent with a large number of anchor leases, “but not even one of these leases was for a traditional mall anchor user,” Young said.

The survey reports high retail occupancy for other Texas cities as well, including Austin (at 96 percent), Houston (95 percent) and San Antonio (94.5 percent).