Recently, North Texas, specifically the Dallas-Fort Worth (DFW) area, has surfaced as a power player in the country’s commercial real estate market, even more so than the giant, Los Angeles. The MSCI Inc. data reveal that DFW logged a staggering $13.2 billion in commercial property investments in the first three-quarters of 2023 alone. Despite experiencing a year-over-year decrease of 64%, these figures still inch past Los Angeles’s total investment by $400 million.
Texas cities aren’t too far behind either. Houston and Austin have also performed well, grabbing sixth and tenth spots respectively on the national ranking of commercial property transactions. DFW’s dominance in this arena isn’t new. It ranked first in commercial real estate transactions in both 2021 and 2022 as well.
The investment landscape in the third quarter showed particular enthusiasm for apartment sales, representing half of the total investments with a cool $6.84 billion. Industrial sales followed with $2.9 billion, while retail secured $1.3 billion. Office transactions, however, witnessed a steep fall of 65% year over year in the same quarter.
The report also highlighted that nearly $80 billion of nationwide commercial real estate was in distress in the third quarter. With DFW accounting for $1.4 billion of distressed commercial properties and a potential $8.8 billion looming in troubled property dealings, the market landscape manifests both challenges and opportunities. For more details on the statistics, check out the original article [here](https://www.recenter.tamu.edu/news/newstalk-texas/?Item=30063).