Industrial demand for buildings in North Texas has also increased the price tags more so than any other area in the U.S.
Industrial sales have increased in the Dallas-Fort Worth area more so than any other markets in the country. As the population continues to grow, so does the industrial demand and job growth.
The top areas that saw in increase in industrial building prices include:
- Dallas with an increase of sale prices by 20%
- New York/Northern New Jersey with an increase of sale prices by 15.9%
- Miami with an increase of sale prices by 14.8%
- Los Angeles with an increase of sale prices by 11.6%
- Southern California’s Inland Empire with an increase of sale prices by 7.5%
According to Dallas Business Journal, “The type of investor targeting industrial product in North Texas varies greatly. Institutional investors made up 45.8 percent of buyers over the first three quarters of 2019, while private buyers made 32 percent of purchases. Foreign investment accounted for 12.2 percent of buyers. On the seller side, private and institutional investors represented about 40 percent each while foreign investors made up 7.9 percent.”
Experts say that there aren’t any signs of a decrease in industrial demands for North Texas. As the “internet retail” continues to grow so does the need for warehouse buildings which is good news for Dallas-Fort Worth.