It’s official. The commercial real estate market in the Dallas / Fort Worth Metroplex is heating up, especially when it comes to retail. Recent stats reveal that retail sales figures in terms of dollar value are on the rise, vacancy rates are decreasing, and rental rates are increasing.
Sperry Van Ness / Visions Commercial is experiencing this first-hand. Managing Director Steve Fithian, CCIM, SEC, CPM, just closed a retail center in Mansfield, TX with David Cook of Sperry Van Ness / David Cook Company. The 5,165 square foot retail center is a Tom Thumb anchored building and sold at full-price in 30 days with multiple offers. JK Country Club, LLC, a Fort Worth entity, purchased it. It was sold by TB3SW, Partners, a Wilson & Stonaker, LLC entity. Wilson & Stonaker, LLC was responsible for developing the center in 2002. Fithian and Cook represented the seller.
In addition, another Sperry Van Ness / Visions Commercial retail listing recently went under contract after being on the market for only a couple of weeks. The six-year-old shopping center is 17,860 square feet and located in a main retail corridor adjacent to a successful Super Wal-Mart in Burleson, TX.
“The economy in the Dallas / Fort Worth area is healthy and vibrant, and the impact is obvious in the real estate market. Things are booming,” Fithian said.
This past year, the Dallas / Fort Worth Metroplex added 108,000 people, which was the third-largest population increase in the nation behind Houston and New York. According to data from the U.S. Bureau of Labor Statistics pulled from the past 12 months, DFW ranks among the top three metropolitan areas for job growth in the nation. And, the Fort Worth Chamber of Commerce reports that DFW has the 12th largest metropolitan economy in the world.
No wonder occupancy rates and prices for commercial properties have increased in DFW over the past year.
If you’re looking to buy or sale investment property, now is the time. Sperry Van Ness / Visions Commercial provides expertise in the Dallas / Fort Worth area, and we are committed to maximizing the return on our clients’ real estate investments. To view our property listings, visit https://svntrinity.com/properties.