Wednesday, June 08, 2005

Downtown Dallas Real Estate News

Downtown Dallas Real Estate News

DALLAS (Marcus & Millichap) – "High levels of net inmigration and residential expansion will bolster retail sales and attract retailers to the Metroplex," comments Tim A. Speck, regional manager of Marcus & Millichap Real Estate Investment Brokerage Company’s Dallas office. "A slowdown in construction activity coupled with improving economic conditions will continue to fuel investor interest for Dallas-Fort Worth retail assets throughout the year."

The company’s Retail Research Report for Dallas-Fort Worth report indicates:

Employers are expected to add more than 76,000 employees, an increase of 2.8 percent and population will continue to grow, resulting in sales growth of 4.7 percent this year.

After rising during each of the past two years, construction will fall 24 percent this year to 4.1 million square feet.

The overall vacancy rate is forecast to ease 30 basis points, and asking rent growth of 2.6 percent can be expected as occupancy continues to firm. Vacancy is expected to decline to 11.1 percent.

The single-tenant net-lease sector continues to attract significant investor attention.