{"id":3153,"date":"2022-01-31T15:57:45","date_gmt":"2022-01-31T15:57:45","guid":{"rendered":"https:\/\/www.angmarrealty.com\/?p=3153"},"modified":"2022-01-31T15:57:45","modified_gmt":"2022-01-31T15:57:45","slug":"dfw-brokers-developers-and-contractors-believe-commercial-real-estate-is-poised-for-another-strong-year","status":"publish","type":"post","link":"https:\/\/www.angmarrealty.com\/dfw-brokers-developers-and-contractors-believe-commercial-real-estate-is-poised-for-another-strong-year\/","title":{"rendered":"DFW brokers, developers and contractors believe commercial real estate is poised for another strong year"},"content":{"rendered":"
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It may be a new year, but the Dallas-Fort Worth commercial real estate market probably won\u2019t change much. Brokers, developers and contractors expect 2022 to be another strong year.\u201cAll indicators are that it\u2019s going to build on the momentum we have,\u201d said Eric Hawk, a partner at Archway Properties, citing favorable factors such as a booming population, a business-friendly climate and a robust transportation infrastructure.Dallas will be the nation\u2019s top market for commercial real estate investment in 2022, according to the Colliers Global Capital Markets 2022 Investor Outlook. One-third of those surveyed by Colliers intend to invest in industrial and logistics assets in Dallas while one-quarter expect to invest in multifamily locally.Contractors are already scrambling to find workers and materials to keep up with the demand for new projects as the Dallas-Fort Worth construction market surges. Local construction volume will reach $36.3 billion in 2022 after topping $36.6 billion in 2021, according to projections from Cumming, a global project management and cost consulting firm.\u00a0 Of those amounts, commercial construction will account for $3.81 billion in 2022, compared with $3.89 billion in 2021, while manufacturing construction will contribute $1.28 billion in 2022, up from $1.26 billion in 2021, according to Cumming.\u00a0 What\u2019s driving industrial development. The same factors responsible for overall growth drive industrial development as well, Hawk noted. So does the surge in e-commerce brought about by Covid-19. \u201cThat industry has always been in double-digit growth mode, and it has accelerated as people have embraced buying online,\u201d he said.<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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As retailers sell more products, they want bigger warehouses and to be closer to customers. \u201cPeople realize they need more warehouse space to hold more inventory, so they have more flexibility at times when there are disruptions in the supply chain,\u201d Hawk said.Manufacturers are opening facilities as well. \u201cWe\u2019re seeing some manufacturing businesses come back to the U.S. to get their products closer to the consumers,\u201d Hawk said. \u201cThere\u2019s been a lot of positives resulting in increases in industrial demand.\u201dA lot of space will be coming out of the ground Dallas-Fort Worth\u2019s central location makes it ideal for companies that want to serve customers across the nation, said Becky Thompson, a principal at Lee & Associates. \u201cAnyone who is growing is looking here,\u201d she said.Thompson and her firm were so busy helping industrial tenants find space in 2021 that she could not recall a busier year. She expects 2022 to bring more of the same. \u201cThere\u2019s going to be a lot of space coming out of the ground and we\u2019re likely going to top what was built in 2021.\u201dYear to date, as of December, 21.7 million square feet of industrial space had been delivered in Dallas-Fort Worth and the region led the nation with 61.1 million square feet underway, according to a\u00a0CoStar Analytics industrial outlook for 2022. To put the scale of construction into perspective, CoStar noted that Dallas-Fort Worth represented 12% of all industrial construction in the United States.<\/div>\n