What a year. The pandemic, civil unrest, a retreating economy, plummeting oil prices and more have all had varied impacts on Texas’ markets. While everyone is eager to leave 2020 behind, what are the real estate prospects for the state’s largest metros in 2021?
According to Michael Caffey, president, advisory services, South-Central Division and Latin America at CBRE, investment activity in the Dallas-Fort
Worth area hasn’t tapered off as much as many may have feared. “Investor activity in Dallas-Fort Worth has continued throughout the year,” Caffey said. “While activity is down overall, we’re still a top-four market for total
investment volume behind New York, Los Angeles and the Bay Area.” There is one main attraction, of course. As logistical warehouses remain the most sought-after and dynamic commercial property type, DFW’s industrial sector has been immune to the headwinds of 2020 and seen year-over-year growth. In fact, demand among e-commerce tenants, 3PLs and the food and beverage industry has increased rents and sent vacancy rates to a near all-time low. Industrial submarkets have all remained remarkably stable, with activity largely driven by the amount of available space. For example, in the GWS/Arlington submarket, where the vacancy rate is 4.7 percent, there is naturally less activity than in submarkets that have more available space like South Dallas or North Fort Worth. It’s not just investors who are eager to tap into the Metroplex’s strong industrial performance. Click to read more at www.rednews.com.