2023 is approaching, bringing with it new hopes, aspirations, and opportunities. And the DFW industrial property market will continue to witness another strong year, experts suggest. A booming population, modern transportation infrastructure, and a business-friendly environment – all the factors are favorable, building on the pace at which the industry is growing. So, if you are planning to buy industrial property in DFW, this is the time!
But before you make the investment, there are a few important things you should keep in mind.
What’s Driving the Industrial Real Estate Market in Dallas-Fort Worth?
Knowing the scope of growth of the Dallas real estate market is important because it will help determine the value of your property in the long run.It is ranked the nation’s #1 real estate market in 2022, driven by factors like a significant surge in eCommerce, growing population, favorable investment conditions, increasing supply, and much more.
As the population and eCommerce market continues to grow year-on-year, retailers are selling more products. They now want larger warehouses and storage spaces to hold inventory in greater quantities, helping them get closer to the market and address disruptions that may happen in the supply chain.
The market is also seeing more numbers of manufacturing businesses opening their facilities in the U.S. So, there has been a continuous growth in industrial real estate demand. This is backed by a steady supply of industrial projects. According to CoStar, a leading commercial real estate information company, DFW has the largest pipeline of industrial construction for 2022 and onwards.
This clearly indicates that the industrial real estate market in Dallas is poised for growth, offering lucrative opportunities when you buy a property.
Determine Your Financing Options
Want to buy industrial property in DFW? Keeping in mind that industrial property will be a big investment, it is important to first understand your financing options. When you find the right property, if you have your funding options in place, it can become much easier to close the deal.
Location is Important
For any type of property, including industrial real estate, location is key. The property should be located in Dallas’s industrial hub or its proximity.It should be located near major transportation hubs, such as rail, airways, or ports. It should be convenient to access the industrial property and the region should also be safe, and free from vandalism or burglary.
Consider Working with an Expert
Buying an industrial property can be daunting. Hence, it is worth hiring professional brokerage services in Dallas to help you throughout the process. The market knowledge, expertise, and broad networking of an industrial real estate broker can ensure a smooth process and help you make a wise investment decision.