'All-Out' Race For Commercial Real Estate In North Texas Could Stay Just As Hot In 2022
FORT WORTH (CBSDFW.COM) - No doubt the North Texas real estate market saw unprecedented interest in 2021.
Real estate experts say it wasn't just residential properties catching the eyes of hopefuls, but commercial listings too.
Luis Pina, the owner of Accent Commercial Real Estate in Dallas, says investors and business owners looking to score commercial properties in North Texas were in an all-out race.
Pina said, "After March of this year, people just went to the streets and started buying everything they could find."
So much, he says, that now there are very few available listings in the commercial real estate sector.
Pina adds that many businesspeople both local and from out of town are specifically interested in buying retail space like strip malls and warehouses.
He added, "We've got a lot of people from California. You see all the companies that are coming here that are bringing their headquarters to DFW, they are coming from California, Chicago, New York other countries."
Pina says in one instance he saw a property rise 75% in value within the same year.
He says that's an indicator of how much demand exists for commercial properties and how little inventory is out there.
Additionally, Pina predicts the flow of businesses moving to Texas will ultimately create expansion and booms in smaller cities and towns across the state.
He said, "I don't see any little towns anymore in Texas that are not growing. Everybody is getting their share of growth."
He expects the 2022 commercial market will stay just as hot as 2021 not only in DFW, but throughout the entire state as well.