While we tout the diversity that characterizes our office tenants here in Dallas-Fort Worth because of the strength and stability it brings, our industrial tenant base shares a similar diverse make-up.
The chart below highlights the breakdown of industrial tenants by major Standard Industrial Classification (SIC) category, illustrating the wide variety of tenants that shape our market. We have also included some of the more recognizable tenants that fall into the larger segments to give a flavor to the major players. One take-away here is that the SIC categories tend to pigeon-hole companies into specific sectors.
For example, Fossil and Mary Kay are logged under manufacturing, when many would think of them more as a retailer. Likewise, Unilever is under business services (finance) instead of wholesale – retail, because of that global corporation’s extremely diverse structure, ranging from food and drink (Ben & Jerry’s and Lipton) to home / personal care (Dove and Q-tips), as well as support for the restaurant industry through Unilever Food Solutions, their extensive corporate R&D work, and a deep supplier chain across the globe.
As we look through the 2,300+ tenants with over 50,000 square feet of industrial space in DFW that make-up this breakdown, retail, ecommerce and consumer products come through as a clear regional strength, although they may be tallied in a variety of SIC categories depending on the corporation.
Likewise, construction (homebuilders and products) are sometimes listed in a variety of SICs. While most fall under our “construction” category, some creep into other sectors, like manufacturing due to the company’s designation.
The significant takeaway is that DFW’s industrial market is extremely diverse and has numerous drivers shaping demand due to north Texas’ central US location, large economy as a top five metro, and exceptional regional and inter-state access through its road network, multiple logistics hubs, rail and air.
Learn more about the Dallas industrial market, national trends and what’s happening in other markets across the US in our latest Industrial Outlook available now.