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DFW Second Behind Nashville As A Target Market For Investors

Survey Ranks DFW as Best Market for Investors

DFW: The Metroplex yet again is being forecasted as one of the best markets for doing business this year. In late 2022, the National Association of Realtors said that the Dallas-Fort Worth market was expected to lead most other U.S. metropolitan regions in 2023 behind only Atlanta and Raleigh. And another report from Emerging Trends in Real Estate by the Urban and Land Institute and PricewaterhouseCoopers ranked DFW second behind Nashville as a target market for investors. Now comes word from CBRE, which ranks DFW as the best market in the country this year. The region led the country in the company’s U.S. Investor Intentions Survey for 2023. It ranks North Texas ahead of Austin and Miami in investor sentiment. DFW has led or has been high on the list in various real estate sector categories. At the end of last year, the Metroplex had the most commercial property investment for the third consecutive year, topping $42 billion for 2022. Although higher interest rates and economic uncertainty have slowed activity in many parts of the country, including North Texas, the region has benefitted and is predicted to bounce back sooner than other areas because of numerous factors, including surges in population and jobs.

DFW: North Texas remains a hot hotel market, too. Last year DFW led the country in hotel construction projects with more than 170 in development. That will add more than 20,000 new hotel rooms to the area when those projects are completed. In a new report, Lodging Econometrics, a hospitality industry analyst firm, said North Texas was ahead of Atlanta, which had about 145 such projects underway with just over 18,000 new hotel rooms. Across the country, more than 5,400 projects were in development last year totaling more than 650,000 new hotel rooms. Travel and lodging are seen as one of the barometers of the country’s economic growth and sustainability. The industry was severely impacted during the pandemic but has seen steady growth in the past two years.

DFW: A shopping center in what used to be part of the Brinkmann Ranch in Frisco is closer to reality. Developer Centergy Retail of Dallas, with funding in place, plans to build the 90,000-square- foot Lexington Village on a 15-acre pad at Coit Road and Eldorado Parkway. The shopping center, which will be anchored by a grocery store, will be part of a larger development that began with the purchase of the 600-acre-plus ranch by Landon Development in 2020. Landon has plans for its Lexington community to eventually include close to 5,000 single-family and apartments, plus parks and schools.

DFW: Alpine Start Development of Dallas is looking to build a new apartment and rental community in Grand Prairie. The developer already has projects in the region and is planning to build the Grand Prairie Village west of the Bush Turnpike on January Lane. The development is estimated at $55 million and will include 314 apartment units in several three-story buildings, plus 94 single-family residences and 28 townhomes. The community will be built on 26 acres and will have outdoor amenity spaces and trails. The developer has several projects underway throughout North Texas, which is the busiest apartment sector in the country with upwards of 65,000 new apartment units in the development pipeline.

LA LA LAND: Sell it baby one more time. Britney Spears wants to split from her Southern California home that she has owned for just six months. Last year, she paid $11.8 million for an 11,650-square-foot mansion in Calabasas where she was expected to live with her new husband, Sam Asghari. Now she wants out and has listed the six-bedroom, nine-bath mansion. The house is outrageous—complete with a grand entrance, fireplaces, great living areas inside and out, a gourmet kitchen that leads to a great family room that leads to grand outdoor space. Oh, it also has a 10-seat movie theater and a wet bar and lounge. She’s not calling the place toxic, but it seems her only wish is to sell it for $12 million. The singer/entertainer has several other properties in Southern California.

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