---
title: "DFW Industrial Market Update: Q3 2026 Vacancy and Rents"
description: Dallas-Fort Worth industrial vacancy, absorption, rents and construction for Q3 2026, compared across CBRE, Cushman & Wakefield, JLL and Newmark.
image: https://www.roesingercre.com/hs-fs/hubfs/AI-Generated%20Media/Images/Modern%20Warehouse%20Aesthetic.png
---

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Market data · Q3 2026

# Dallas-Fort Worth industrial market update

DFW industrial vacancy fell again in Q3 2026 to its lowest level in roughly two years, on heavy leasing and steady absorption. The country's largest construction pipeline is the variable to watch.

By **Zach Roesinger**, Designated Broker, Roesinger LLCUpdated October 12, 2026[Share on LinkedIn](https://www.linkedin.com/sharing/share-offsite/?url=https%3A%2F%2Fwww.roesingercre.com%2Fresources%2Fdallas-fort-worth-industrial-market)[Post on X](https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.roesingercre.com%2Fresources%2Fdallas-fort-worth-industrial-market&text=Dallas-Fort+Worth+industrial+market+update&via=LandmanZachATX)

**Short answer (Q3 2026):** Dallas-Fort Worth industrial vacancy is roughly 7% to 9% depending on the source, and it has been falling for about two years. CBRE reported 7.8% vacancy in Q3 2026, 6.4 million square feet of net absorption, 23.5 million square feet of leasing, and 33.9 million square feet under construction, the most of any U.S. market. Cushman & Wakefield put average asking rent at a record $9.76 per square foot net. Tenant leverage is shrinking, fastest in the largest buildings.

## The numbers, by source

Each firm tracks a different inventory, so headline vacancy can differ by two points. CBRE and Cushman & Wakefield have released Q3 2026; JLL and Newmark figures below are their latest published quarter. All four show vacancy falling.

| Source | Quarter | Vacancy | Trend noted |
| --- | --- | --- | --- |
| [CBRE](https://www.cbre.com/insights/figures/dallas-fort-worth-industrial-figures-q3-2026) | Q3 2026 | 7.8% | Down 40 bps from Q2 and 110 bps year over year |
| [Cushman & Wakefield](https://www.cushmanwakefield.com/en/united-states/insights/us-marketbeats/dallas-ft-worth-marketbeats/industrial) | Q3 2026 | 7.3% | Down 70 bps from Q2 and 150 bps year over year |
| [Newmark](https://nmrk.imgix.net/uploads/fields/pdf-market-reports/2Q26-Dallas-Fort-Worth-Texas-Industrial-Market-Report.pdf) | Q2 2026 | 8.6% | Lowest since Q4 2023; demand outpaced supply a fourth straight quarter |
| [JLL](https://www.jll.com/en-us/insights/market-dynamics/dallas-fort-worth-industrial) | Q2 2026 | 9.3% | Seventh straight quarterly decline from the 11.1% peak in Q3 2024 |

## What drove the quarter

- **Leasing stayed heavy.** CBRE counted 23.5 million square feet of leasing in Q3 2026, the highest in its three-year look-back. Cushman & Wakefield tallied 63.0 million square feet year to date.
- **Absorption beat deliveries.** Cushman & Wakefield reported 13.9 million square feet of net absorption against 7.3 million square feet delivered; CBRE's narrower count was 6.4 million square feet, up 17.5% year over year. Either way, more space was filled than built.
- **Big boxes are getting scarce.** Cushman & Wakefield found only 1.9% of inventory in buildings of 500,000 square feet and larger was vacant and available. Mid-size buildings of 150,000 to 499,999 square feet were the only size band still above 10% vacancy.
- **Rents jumped.** Cushman & Wakefield's average asking rent rose 5.9% in the quarter to a record $9.76, with warehouse/distribution at $9.55.
- **The periphery led.** Alliance, Far North/I-35, and South Dallas led absorption, per Cushman & Wakefield, with third-party logistics the largest user group.

## What it means for you

### Tenants

The window for easy concessions is closing, especially for large users. If you need 500,000 square feet or more, there are few vacant options, so start early and consider build-to-suit or pre-leasing a speculative building under construction. Mid-size users still have more choices and room to negotiate. Smaller flex and shop users should get a market survey before a renewal rather than assume last year's rate. In a tightening market, a renewal signed 12 to 18 months before expiration usually beats one negotiated under deadline pressure.

### Owners

Falling vacancy and record asking rents support pushing rents at rollover, but the pipeline is large: Cushman & Wakefield counted 30.6 million square feet under construction, with speculative starts rebounding. Owners of mid-size buildings competing with new product should stay realistic on concessions. If you are weighing a sale, see our guide to [selling commercial property in Texas](https://www.roesingercre.com/resources/selling-commercial-property-texas?hsLang=en).

### Buyers and investors

DFW is the deepest, most liquid industrial market in Texas, and that liquidity shows up in pricing. Underwrite to signed rents rather than record asking rents, stress-test lease-up against the next wave of deliveries, and compare the going-in [cap rate](https://www.roesingercre.com/resources/cap-rate-commercial-property-value?hsLang=en) to your all-in cost of debt. Smaller-bay product is a different market than the big-box numbers above; see our [small-bay industrial investing](https://www.roesingercre.com/resources/small-bay-industrial-investing?hsLang=en) guide and the Texas Triangle industrial overview.

## What higher rents do to value

Here is how rent growth reaches value, using an illustrative 50,000 SF multi-tenant flex-industrial building with $487,500 of NOI at a 6.50% cap rate: $487,500 / 0.065 = $7,500,000, or $150 per square foot. If 25,000 SF rolls during the hold and re-leases $0.75 per square foot higher, NOI rises by $18,750 to $506,250. At the same 6.50% cap, value becomes about $7,788,500, an increase of roughly $288,500. If cap rates move up 25 basis points to 6.75% at the same time, value is about $7,500,000 again, which is why rent growth alone does not guarantee a higher sale price.

## What to watch next quarter

- Whether quarterly absorption keeps running ahead of deliveries as more of the 30-plus million square foot pipeline completes.
- Speculative starts. Cushman & Wakefield reported speculative construction rebounding to 23.4 million square feet, which could slow the vacancy decline in 2027.
- Mid-size vacancy, the segment with the most competing space.
- Sublease listings, an early read on whether occupiers are consolidating.

## How to read market reports

- Check the inventory threshold and building types; reports that exclude small buildings say little about flex.
- Separate direct and sublease space. Newmark reported sublease availability of 14.1 million square feet in Q2 2026.
- Compare absorption with deliveries, not just with last quarter's absorption.
- Read by size band and submarket; DFW's averages blend very different products.
- Asking rent is not effective rent once free rent and improvement allowances are counted.

## Frequently asked questions

### What is the industrial vacancy rate in Dallas-Fort Worth?

In Q3 2026, CBRE reported DFW industrial vacancy of 7.8% and Cushman & Wakefield reported 7.3%. Q2 2026 reports from Newmark (8.6%) and JLL (9.3%) were higher, but every source shows vacancy trending down.

### What is the average industrial rent in Dallas-Fort Worth?

Cushman & Wakefield reported a record average asking rent of $9.76 per square foot net in Q3 2026, up 19.9% year over year. Newmark put Q2 2026 average NNN asking rent at $9.85, so most sources place DFW near $9 to $10 per square foot for the overall market.

### Is the DFW industrial market recovering?

Yes. JLL reported vacancy falling for seven straight quarters from an 11.1% peak in Q3 2024, and Q3 2026 reports show it lower still. The open question is whether demand keeps pace with more than 30 million square feet under construction.

### Why is there so much industrial construction in Dallas-Fort Worth?

DFW is a national distribution hub with a central location, major rail and air cargo infrastructure, and abundant developable land, so developers keep building when vacancy falls. CBRE reports DFW leads the nation in industrial square footage under construction.

This guide is general information, not legal, tax, or investment advice. Figures are from the third-party reports linked above, summarized in our own words, may cover different quarters, and are subject to revision. This page is updated quarterly. Roesinger LLC is a licensed Texas real estate broker.

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