Hot streak! Dallas real estate market best in years says NAIHot streak! Dallas real estate market best in years says NAIhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=121392016-02-18T06:00:00Z2016-02-18T19:00:00Z

​​DALLAS - This is the best market Dallas has seen in years as companies are expanding and corporate relocations are driving new development in office, industrial and retail.

Based on the healthy, active market of 2015, the momentum should carry over and remain strong through the first half of 2016.

Office: Dallas has become a headquarters hub in the past few years with companies like Toyota and Liberty Mutual putting down roots in the Metroplex. Leasing activity is at an all-time high with all sizes of companies experiencing growth. Office expansions and mid-term lease extensions are becoming the norm.

Retail: The Dallas retail market is strong. Medical users are absorbing retail space and paying top dollar. In Fort Worth, retail trends reflect a surge of leasing activity in the fourth quarter, propelling the continuously falling vacancy rates. As vacancy in Fort Worth declines, lease rates are steadily climbing and there is high competition for space. 

Industrial: 2015 delivered nearly 18 million sf of new industrial product and more than 13 million sf of space were under construction during the year in metro Dallas. 

Industrial properties have been leasing at a healthy pace with 80 to 90 percent occupancy of the new space spoken for, and 30 percent of the space now under construction already pre-leased. Lease rates have plateaued, but remain strong and concessions are tight, but more flexible. The healthy supply and good demand should be positive as we begin 2016.

The future is bright for the Dallas commercial real estate market and we look forward to a great year in 2016.

— By Mark Miller, president, NAI Robert Lynn. This article originally appeared in the February 2016 issue of Texas Real Estate Business.
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