Dallas-Fort Worth’s industrial market has maintained robust performance in 2024, recording over $3.3 billion in sales through September — the highest sales volume in the country. In August, the market overtook the Bay Area as the national leader in industrial sales, a title the Bay Area had held for months. As of September, the Bay Area ranked second, with $2.8 billion in year-to-date sales.

That said, properties in DFW traded at an average of $126 per square foot, which is slightly below the national average of $130 per square foot, according to the latest CommercialEdge industrial report. As such, this slight pricing gap offers investors the chance to engage in one of the nation’s busiest industrial markets at relatively lower costs.

Among key transactions, Stonepeak acquired two properties totaling 1.1 million square feet in the Alliance submarket with a $57 million loan, from institutional investors advised by J.P. Morgan Asset Management. The Alliance submarket benefits from its access to major rail lines, the BNSF Alliance intermodal terminal, and the Fort Worth Alliance cargo airport, making it a hub for distribution and logistics.

“We believe that high-quality real estate adjacent to transport infrastructure will continue to outperform given its mission-critical role in local and national supply chains,” said Phill Solomond, Senior Managing Director and Head of Real Estate at Stonepeak.

Other DFW market activity includes over 15 million square feet of industrial space under development as of October, ranking the Metroplex second nationally behind Phoenix. In terms of vacancy rate, Dallas-Fort Worth’s vacancy rate stands at 7.5%, slightly higher than the national average.

Western Industrial Markets Remain Nation’s Most Expensive

Nationwide, industrial markets have remained resilient, with total sales reaching $43.7 billion through Q3 2024. Average sale prices rose 6.6% year-over-year, highlighting sustained growth in industrial asset values.

However, regional disparities are notable: The West continues to lead the nation in transaction prices with the Bay Area topping the list at $476 per square foot. It’s followed by southern California markets like Orange County ($319), Los Angeles ($297) and Inland Empire ($265). In the Northeast, northern New Jersey averages $226 per square foot. Closer to Dallas-Fort Worth, smaller markets like Baltimore and Nashville, Tenn., each recorded average prices of $132 per square foot, surpassing DFW and leading the South in pricing.