DFW now leads the entire country in retail construction - 7.2 million square feet underway.

65% of that pipeline is concentrated in Collin and Denton Counties. Vacancy is sitting at 4.9%. Properties are trading at - $276/SF.

Here's the catch: less than 20% of what's under construction is actually available for lease. Most of it is build-to-suit for national tenants like H-E-B.

For retail landlords, that's strong position. For Tenants looking for quality space in North Texas - the window is narrowing fast.

26 years in DFW and I haven't seen retail fundamentals this tight. What are you seeing in your submarket?