Dallas-Fort Worth continues to rule real estate investments in 2024. That’s the latest news from the U.S. Investor Intentions Survey from CBRE Research. Dallas-Fort Worth has been at the top of investors’ lists for three consecutive years. The area is followed by Miami, Raleigh, North Carolina, and Nashville, Tennessee, respectively, as the most preferred investment markets.
In the survey, the biggest impediments to commercial real estate investment activity for the year were interest rates that have stayed higher for longer, tight credit conditions and differing buyer and seller expectations, investors said.
Despite those concerns, investor sentiment has significantly improved, according to the survey. Over 60% of respondents expect to purchase more real estate in 2024 than in 2023, compared with only 16% in 2023 versus 2022.
The survey results showed investors favored multifamily real estate, particularly Class A properties, followed by industrial and logistics. Grocery-anchored centers are most favored by retail investors, which fits right in with the upcoming H-E-B openings in the area. Nearly 60% of office investors prefer prime/trophy office properties, which ties into the new office properties being built in the Cultural District and along West Seventh Street.
Pickleball opening set for West Fort Worth
The Picklr will open May 24 at 1705 S. Cherry Lane in West Fort Worth. The club is in a former Dirt Cheap location.
The 34,000-square-foot Picklr has 11 indoor courts with high-quality, outdoor-style surfacing, a full pro shop, private event space, unlimited league play, tournaments and open play.
Picklr plans additional locations in Hurst and McKinney.
“Bringing The Picklr to West Fort Worth, Texas, means our community will benefit from the best-in-class in indoor pickleball,” said Zion Meer, the franchise owner of the West Fort Worth and Hurst locations.
The North Texas Picklr locations are part of a national expansion for the franchise that includes 262 new locations signed across 36 states, with more than 2,000 courts being built over the next few years.
Real estate deals
Kurita America has leased 90,278 square feet at South Fort Worth Commerce Center. Andrew Johnson with Colliers represented the tenant. Matt Carthey and Thomas Grafton with Holt Lunsford Commercial represented the landlord, IDI Logistics. Air Relief Technologies Inc. has leased 52,788 square feet at 5909 Eden Drive, Haltom City. Michael Newsome with NAI Robert Lynn represented the tenant. Thomas Grafton and Trey Goodspeed with Holt Lunsford Commercial represented the landlord. Courtside Couture has leased 316 square feet at Ridglea Village, Fort Worth. Ross Moncrief with Holt Lunsford Commercial represented the landlord, Sherman Way Investors LP.
Do you have something for the Bob on Business column? Email Bob Francis at bob.francis@fortworthreport.org.
Bob Francis is business editor for the Fort Worth Report. Contact him at bob.francis@fortworthreport.org. At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Read more about our editorial independence policy here.
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