- Dallas-Fort Worth’s industrial pipeline hit 29.6 million square feet across 103 projects, the largest in the U.S. and up from 5.8 million square feet in February 2025.
- The metro’s office pipeline reached 2.6 million square feet, or 0.9% of stock, more than double the national average and third-highest behind Boston and Manhattan.
- Seven megaprojects, including a $12 billion DFW Airport expansion and a $4 billion NexPoint research campus, signal developers still see strong fundamentals despite high rates.
Dallas-Fort Worth now has the nation’s largest industrial pipeline, at 29.6 million square feet, and its third-largest office pipeline, according to a new CommercialSearch analysis. The metro is also home to seven megaprojects worth tens of billions of dollars, from a $12 billion airport overhaul to a $4 billion biotech research campus, all moving forward despite elevated interest rates.
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A Pipeline Built on Confidence
Dallas-Fort Worth has topped national industrial rankings before, but the current pipeline marks a new high. Industrial construction has more than quintupled since February 2025, when the metro had just 5.8 million square feet underway, per CommercialSearch. Office development, by contrast, has been the industry’s laggard nationally, making Dallas’ 2.6 million square feet of active office construction, 0.9% of existing stock and more than double the 0.4% U.S. average, notable in its own right.
The Details
The office pipeline trails only Boston and Manhattan and beats out peer Sunbelt markets Austin, Houston, and Denver. Anchoring it is NexPoint’s $4 billion Texas Research Quarter, a 200-acre, 4 million-square-foot medical research and biotech campus in Plano approved in 2024. Infrastructure is moving in parallel: DART’s 26-mile Silver Line, which opened in October 2025 and links DFW Airport to Plano across seven cities and 10 stops, and a $12 billion capital improvement program at the airport itself, including $4 billion for a new Terminal F whose first 15-gate, 400,000-square-foot phase is set to open in 2027 for American Airlines and add 31 gates in total once complete.
Suburbs Get Their Own Megaprojects
The build-out extends well past the urban core. In Terrell, developers broke ground on the first phase of Terra Nova in April 2026, a $3 billion, 1,545-acre master-planned community slated for 3,600 single-family homes, 1,200 multifamily units, and 200,000 square feet of retail. Minto Communities made a similar bet in Waxahachie, paying for a 3,170-acre site in February 2026 to build 13,270 homes and 1.2 million square feet of commercial space over the next 15 to 20 years. A $4 billion, 190-megawatt data center campus backed by Energy Capital Partners, KKR, and CyrusOne is also under construction in Bosque County, with its initial phase set to go live by year-end. The suburban buildout mirrors what’s happening closer in, where CRE Daily has tracked a trophy office boom reshaping Uptown Dallas.
Why It Matters
The activity suggests developers still trust North Texas fundamentals even as borrowing costs remain elevated and other Sunbelt markets slow their own construction. “North Texas still has the underlying fundamentals needed to support major development,” CBRE Executive Managing Director Jeremy McGown said, per CommercialSearch. Fellow CBRE Managing Director Blake Waltrip pointed to infrastructure as the catalyst, noting that municipalities need to align infrastructure improvements with redevelopment timelines to keep projects on track.
That confidence tracks with the metro’s broader industrial market ranking, which has climbed as national supply chains keep favoring North Texas for distribution and manufacturing space. With 103 industrial facilities now under construction, Dallas-Fort Worth’s pipeline share of existing stock, 2.8%, is more than seven times the office pipeline’s share, underscoring how lopsided the current building boom is toward logistics.
What’s Next
Several of the highest-profile projects won’t deliver for years. Hi Line Square, a joint venture between HN Capital Partners and McCourt Partners to convert a Dallas Design District site into a 19-story, 255,000-square-foot office tower alongside a 20-story, 200-unit residential tower and a central plaza, breaks ground in 2027 and isn’t due to finish until 2030. The airport’s first Terminal F gates open in 2027, with the remaining 16 gates to follow. Together, the projects will test whether North Texas’s infrastructure and population growth can keep absorbing new supply at the pace developers are betting on.
