Market-wide net absorption remained positive in Q3 2019, with 74,588 sq. ft. absorbed.
Though retail activity cooled this summer, the labor force remained hot. According the Federal Reserve Bank of Dallas, employment grew at an annualized rate of 4.8% from May to August of 2019.
Private sector wages grew $0.39 from last quarter, ending Q3 2019 at an average of $24.51 per hour.
With over 923,000 sq. ft. of retail product currently underway, 89% of the supply is stemming from the Northeast and Northwest submarkets.
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