REBusinessOnline

Building Size Matters in Amarillo Industrial Market

Amarillo’s industrial market is truly a tale of two sectors, as some form of that expression goes, and the key number is 50,000 square feet. The occupancy rate for industrial properties in the sub-50,000-square-foot range in Amarillo remains very high, with few properties of this size sitting on the market for extended amounts of time. With such high occupancy rates, several new developments have recently sprung up. Those with both large footprints and divisible floor plans to meet the …

Fort Worth Office Market Embodies Live-Work-Play Mentality

Over the last 15 years, the office market of Fort Worth, as well as that of the metroplex as a whole, has experienced steady growth in both development and absorption of new product. DFW’s office vacancy rate currently sits at 15 percent, according to CoStar Group, indicating the ceiling for new growth has not yet been hit. [caption id="attachment_204878" align="alignright" width="100"] Jerry Merriman, Merriman Anderson Architects[/caption] The traditional drivers of job and population …

Soaring Home Prices Drive Multifamily Absorption, Sales in Fort Worth

The Dallas-Fort Worth (DFW) metroplex will lead the nation in absolute job creation for a third consecutive year in 2018. [caption id="attachment_204862" align="alignright" width="100"] Kyle Palmer, Marcus & Millichap[/caption] Strong employment gains have produced healthy household formation trends as new residents migrate to the market and young adults continue to move out on their own. As a result, many new residents are filtering into apartments as homeownership in the metro falls …

Fort Worth Industrial Market Gaining Ground on Big Brother Dallas

Any commuter who takes Interstate 35 on a regular basis can tell that the Fort Worth industrial market is continuously growing. But the question is, how much longer will the growth last? [caption id="attachment_204854" align="alignright" width="100"] Sarah LanCarte, Fort Capital[/caption] Numerous signs point to the metro’s industrial market having considerably more runway for new development, as well as key factors in place to maintain strong positive absorption of existing industrial …

University Submarket Emerging as Retail Hotspot in Fort Worth

For the last several years, Fort Worth’s retail market has posted a vacancy rate of 5 to 6 percent, suggesting that absorption is strong yet new construction is still permissible. [caption id="attachment_204848" align="alignright" width="100"] Chris Corbin, Venture Commercial Real Estate[/caption] However, there is a difference between Fort Worth’s vacancy rate and that of comparably sized markets wherein 95 percent of the retail space is occupied. In Fort Worth, occupancy is evenly …

Retailers That Cater to Single-Family Homes Find Success in Rio Grande Valley

As the number of jobs and people in the Rio Grande Valley (RGV) grows, the region’s retail market holds steady. Historically, vacancy in this market tends to hover between 5 and 7 percent. So the current retail vacancy rate in the McAllen-Edinburg-Mission MSA, which according to CoStar Group is 4.5 percent, represents a couple different trends. First, the vacancy figure illustrates positive absorption of newly constructed retail space. In 2016 and 2017, the market added about 770,000 and …

Heightened Border Activity Drives Down Industrial Vacancy in Rio Grande Valley

The industrial market of the Rio Grande Valley (RGV) is off to a blistering start in 2018, thanks to a combination of increased commercial activity around the U.S.-Mexico border and renewed political and military interest in the region. We use the tri-city area of McAllen-Edinburg-Mission, now the fifth-largest MSA in Texas, as a yardstick for our regional analysis. According to CBRE, industrial vacancy in this market registered an all-time low of 3 percent during the first quarter. In …

Fate of NAFTA, Foreign Trade to Shape Rio Grande Valley Office Market in 2018

The economy of the Rio Grande Valley (RGV) has always been closely linked to foreign trade. The region’s numerous port markets and its proximity to Mexico — in particular, the robust industrial market of the Mexican border city of Reynosa — have always ensured that international commerce plays a key role in the economic success of the RGV. Manufacturing and distribution have always been major drivers of growth in the RGV. We often analyze the performances of these sectors when gauging …

Rio Grande Valley Multifamily Market Playing Catch-Up on Class A Product

Commercial real estate sectors in secondary and tertiary markets often suffer from a lack of current, comprehensive data and metrics. Until a few years ago, the multifamily market of the Rio Grande Valley (RGV) was no exception. Much of the region’s multifamily product consists of “clusters” of fourplexes. In many cases, different investors own different units within these properties, which generally do not have management and leasing offices with hard data. Consequently, for years …

Texas Office Markets: Who’s Hot, Who’s Not

From Dallas-Fort Worth’s (DFW) explosive rate of corporate relocations and expansions to Houston’s reliance on oil prices to Austin’s strong supply of tech talent, there’s very little common ground among the office sectors of Texas’ biggest cities. And whereas the pace of sales, development and absorption for certain property types — industrial, multifamily, self-storage — are strong across DFW, Houston, Austin and San Antonio, it’s the office sectors of these metros that truly …

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