Texas

Much like the broader U.S. economy, the commercial real estate markets of Texas continue to display strong fundamentals that should fuel another year of robust demand for space, elevated valuations of commercial properties and disciplined, yet confident lending for new development. So say the majority of commercial brokers, developers and owners who responded to Texas Real Estate Business’ ninth annual forecast survey. These professionals did acknowledge that uncertainty during presidential election years — particularly when the current president is facing impeachment proceedings — can undoubtedly rattle markets. Ultimately, however, industry professionals believe that the dual drivers of job and population growth, coupled with record levels of capital seeking placement in Texas markets, are strong enough to overcome geopolitical concerns such as the United States-China trade dispute and a stark partisan divide in Washington, D.C. “Job and population growth are both indicators and driving forces for resiliency, and behind the job and population growth are systemic organizational re-allocations of capital, mission-critical operations and human resources into the Texas markets,” says Aaron Johnson, director of capital markets in JLL’s Dallas office. Johnson adds that in Dallas, the arrivals of corporate giants like Toyota, Liberty Mutual and McKesson Corp. illustrate these companies’ belief …