As summer winds down, things are getting busy. It seems there are not enough hours in the day. Things seem to actually be happening now that were just being talked about six months ago. Developments are breaking ground, with multiple firms bidding on available sites.
Retailers in almost every category are out doing new deals: discounters, grocery, apparel, furniture, sporting goods, specialty, restaurants—you name it. They are not only looking, but they are signing new leases and buying sites.
Income property sales continue at a brisk pace, and not even rising interest rates are slowing them down.
For more than a year, we have all been talking about things being back, as if saying it would make it true. The fact was, new developments were not really happening, and tenants were not really signing deals.
But it’s no longer just talk. Now it’s reality. Dallas-Fort Worth continues to be poised to lead the nation with strong population growth, job growth, and an overall great economy. Retailers have North Texas either at or near the top of their lists for new locations. With very little available space, new development is the only real option.
So it seems that it’s no longer just wishful thinking; things truly are back!
John Zikos is a partner at Venture Commercial Real Estate. Contact him at firstname.lastname@example.org.