Real Estate

Dallas Industrial Commercial Real Estate Report

Despite not being the largest city in Texas, Dallas is one of America’s most important markets for industrial real estate.

Despite not being the largest city in Texas, Dallas has earned itself a reputation for being one of the most colorful cities in the state.

Dallas is one of America’s most important markets for industrial real estate because it’s located near several major interstates and airports.

This report examines recent industrial real estate activity near Dallas during the second half of 2022.

Dallas Demographics

Among the top 10 most populated cities in America, Dallas’ metro area comprises one-quarter of the entire state of Texas.

Because Dallas and the nearby city of Fort Worth both have an airport called Dallas/Fort Worth International Airport (DFW), they’re often referred to as the “Dallas-Fort Worth Metroplex.”

Dallas’s economy is dominated by the aerospace, banking, insurance, IT, and telecom industries.

Industrial real estate turned in record-setting numbers during the second quarter of 2022. Here’s why.

Industrial Real Estate Performance in Dallas

During Q2 2022, Dallas industrial real estate experienced vigorous leasing activity, the highest on record.

The $12.2 million square foot lease was driven by the expansion of new tenants and existing occupiers competing to fill up first-gen space.
According to the U.S. Census Bureau, as of June 2022, the industrial vacancy rate for the Dallas–Fort Worth Metro Area was 4.1 percent.
With 38 million square feet of industrial space slated to be built by the end of 2022, Dallas-Forth Worth has again been named the nation’s top industrial market.

With industrial real estate becoming increasingly scarce in big cities across America, you might wonder if Dallas’s industrial property market has changed since the recession. Fortunately for buyers, Dallas remains an affordable city.

What are Dallas industrial area real estate costs?

Because of its central location and relatively low costs, Dallas continues to be an attractive place for companies to lease space.

As of mid-2022, average rents were approaching $6.00 per square foot, with the most sought-after areas being well above this level.
The industrial space with the highest increase in lease prices was the warehouse/industrial spaces serving non-big box retail stores. Average quoted rents for these properties increased by 19.9 percent year-over-year.
Dallas has low industrial rents compared to logistics hubs like LA, Chicago, and Denver, which makes it an attractive option for companies looking to relocate their operations.

We’ll now examine some additional factors that are contributing to rising rents.

Purchase & Leasing Activity

Dallas/Fort Worth’s leasing activity exceeded 30 million square feet for the eighth year.

Demand for industrial space has increased rents.
The future delivery of nearly 60 million square feet over the coming year will likely dictate when the rates begin to level off.

According to sales activity during the first half (H1) of 2022, the Dallas/Fort Worth metroplex was ranked first in the nation for this industry.

Industrial buildings sold for $4 billion across North Texas during the first six months of 20202. That is the highest amount in the country.
Industrial warehouses are particularly desirable, with over 30 local industrial warehousing projects completed in the second business quarter/

Dallas Commercial Real Estate Development

Construction activity was at a new high last month, with 70.1 thousand square feet of industrial property under construction, up by 149.8 percent from the previous year.

Dallas has built up its warehouse and distribution infrastructure faster than any other city in America.
DFW’s construction plans call for an additional 46.6 million square feet of new office space over the next three-year period.
Pre-leasing was most common among speculative websites, accounting for 88.9% of all under-constructed projects.

Plenty is going on in the Dallas industrial real estate sector right now.

Dallas’ Industrial Real Estate Market Forecast

According to industry experts, Big D’s economic outlook remains optimistic for the foreseeable future.

Dallas-Fort Worth remains a crucial logistics center with its central location and vast transport and distribution networks.
With strong demand and plenty of available land in Dallas for building, construction will continue to be robust and produce new industrial properties.
Vacancies will remain at historically low levels for the foreseeable future.
Rental rates will increase throughout Dallas-Fort Worth because of high rental demands and the arrival of new class-A properties.

Reviewing the takeaways below, we’ll agree that investing in Dallas industrial real estate has excellent potential for returns.

6 Questions to Ask Your Real Estate Website Developers

Having a professional website is essential for the success and your business. If you’re in the market for a new website, ask your developers these questions.

Having a professional website is essential for the success and your business. It gives you a place to showcase your listings and services and helps potential clients learn more about you and what you can offer them. If you’re in the market for a new website or your current website needs some updates, ask your developers these six questions.

What Expertise Do You Have in Developing Real Estate Websites?

This is important because you want to ensure that your developers have the necessary skills and experience to build you a high-quality website. If they don’t have much experience in this area, then they might not be able to meet your specific needs.

What Platforms Do You Use?

There are various website platforms out there, and each has its own set of features and capabilities. You’ll want to ensure that your developers are familiar with the platform you’re interested in so they can build the site you need. Most real estate website developers use platforms specifically designed for real estate websites such as Squarespace.

What Kind of Support Do You Offer?

Once your website is up and running, you’ll likely need ongoing support to keep things running smoothly. Be sure to ask your developers about their support options to be prepared for anything down the road.

What Other Services Do You Offer?

While web development is the most important service your developers should offer, other services can also be helpful. For example, many developers also offer SEO (search engine optimization) services to help your website rank higher in search results.

What Should I Do to Update My Website in the Future?

As your business grows and changes, your website will need to change with it. Be sure to ask your developers about their process for updating websites so that you can plan for any future updates that might be needed.

How Much Will This All Cost?

Of course, you’ll also need to ask about the development cost and ongoing support. Ensure you get a clear understanding of the costs so that you can budget accordingly. You don’t want to be caught off guard by any hidden fees.

These questions will give you a better idea of what to expect from your real estate website developers and help you find the right team for your project. Be sure to take your time choosing the right developers so that you can end up with a website that meets all your needs.

5 Tips to Managing Multiple Properties

Owning multiple properties usually means you enjoy having a lot of wealth tucked away in real estate. Here are tips to manage multiple properties easier.

Owning multiple properties usually means you enjoy having a lot of wealth tucked away in real estate. The next benefit is having multiple streams of income from all these properties, but you also have the responsibility of making sure they are all managed. Knowing tips to manage multiple properties makes it easier to juggle everything at once.

Find the Right Professionals

Whether it’s landscaping, roofing, or HVAC, you’re going to need a wide variety of different services to handle things at your properties. From cutting the grass to maintenance emergencies, you’ll need a good list of professionals you can turn to for everything that might come up on a regular basis or unexpectedly.

Get Volume Discounts

Whenever possible among your vendors and contractors, negotiate volume discounts. More properties should mean more work for them. If it’s consistent work and steady income for them, they should be able to give you favorable deals and rates.

Use a Vacation Property Management Service

If you don’t live in the same town as your properties, then a vacation property management service can take care of many details for you locally. Even if you do live in the same area, you can let them handle most of the landlord issues so you can keep your schedule free and clear.

Keep Great Tenants

Whether you work with tenants directly or hand off property management to someone else, do what you can to recognize when you have great tenants. Then, do what you can to keep them. Steady rental or lease income from tenants that follow the rules and take care of the property are worth their weight in gold. Keep them happy as long as you can.

Never Hand Out Personal Contact Information

If you use a landlord or property management service as a go-between you and your tenants, then never hand out your personal email or phone number. Communication should go through your representatives and never directly to you. You’re using them to distance yourself from everything that comes up.

Enjoy the Perks Without the Hassle

The more properties you have, the more there is to be managed. You don’t have to do it, though. In fact, trying to do it all yourself could do your tenants a disservice and give you a bad reputation as a property owner. The more you can delegate, the better things go for everyone.

Jacques Poujade Shares: 5 Tips For Those Entering The Real Estate Industry

The real estate industry can be a pretty difficult one to enter starting out.

The real estate industry can be a pretty difficult one to enter starting out. That is why it is always important to seek out as much as advice from industry professional when first starting out. Jacques Poujade works directly with a lot of people in the real estate industry as a managing partner of LendPlus. He recently provided us with his four favorite tips for those trying to enter the real estate industry.

Seek Out a Mentor

Every single person needs a mentor, and the real estate industry is no exception. There are so many intricacies people are not aware of when they are first starting out. Those who do not have a proper mentor will struggle from the very beginning, and that will prevent them from trying to really reach their full potential.

The industry is very difficult at first, and some people might not see success at all in the beginning. Without someone to encourage and keep things going, a person can really feel like a failure. After putting in so many years getting ready for real estate, the last thing a person wants to deal with is a lot of rejection in the beginning with no one to turn to. A mentor can help a person avoid mistakes, point a person in the right direction and get someone right back on track in the event of a mistake.

Stay Up to Date on All Industry News and Market Updates

There are always going to be trends when it comes to the real estate market, and keeping up on those will make a big difference. Someone trying to sell a house a decade ago using those tactics today would not really get anywhere in the real estate industry. Things are always changing, and a knowledgeable person will be able to keep up.

Many articles online have already highlighted some of the industry trends in 2019. This time of year is a great time to start reading about those things to prepare for the busier months coming up. There are definitely some trends that people need to look out for in 2019 as the market changes.

Leverage Your Social Network

Social networks aren’t always just about sharing pictures with friends and family. The fact is, everyone needs a roof over their head, and that means everyone could be a potential client at one point. People should always promote on their social network, but not to the point that it is annoying. Then, there is always a chance that it could backfire and become a negative overall.

Referrals are big in the real estate world, so always be prepared and willing to share information with people on the spot. There’s always that chance you will get a random message from someone you have not spoken to in a while looking for their dream home.

Incentivize Referrals

Networking is huge in real estate, and every person you reach out to could possibly open up a door to another client. That is why just about everyone in the industry incentivizes referrals in some way. A person is much more likely to share information if they are incentivized in some way to do so. They will definitely feel like they are getting something out of the deal, and that always feels good.

Another reason why incentives work is that people will always remember how they were able to make or save a little bit of money. When it comes time again to do the shopping, they are more likely to be repeat customers if the service was up to par. The incentive is a creative way to get a foot in the door.

For more tips from Jacques Poujade on the real estate industry and finance industry, follow him on Twitter, Facebook, and Medium. You can visit his website at JacquesPoujade.com. He is more than willing to answer any and all questions thrown his way.