In the first six months of 2022, North Texas topped Los Angeles, Atlanta and Houston on the list of the nation’s biggest commercial property markets by sales volume.
The Dallas-Fort Worth metroplex touted $22.9 billion in combined sales of apartments, offices, industrial buildings and retail, the Dallas Morning News reports. The second largest U.S. market, Los Angeles, boasted just $15.5 billion in sales for the first half of 2022.
“For the third straight year, Dallas ranked as the number one market at the midyear,” according to a just-released report by New York-based global property consultant MSCI. “Also the number one market for apartment investment, Dallas is certainly a beneficiary of the fervor with which investors are flocking to the sector.”
DFW’s total volume of $22.9 billion smashed the market’s prior record by 54 percent, according to the report. Nationwide, $375.8 billion in commercial real estate investment was recorded — up 38 percent from the first six months of 2021.
Of this grand total of North Texas property sales, about half so far this year have been multifamily properties. One Dallas property sale was included in the top commercial real estate transactions nationwide. Regent Properties’ $615 million purchase of the Trammell Crow Center skyscraper in downtown Dallas ranked 10th on the list of the biggest commercial property deals in the first half of this year, per MSCI data.
Following its recent acquisition of a major multifamily portfolio stretching across the Dallas-Fort Worth and Houston metros, totaling 4,445 units across 14 buildings, Dallas-based S2 Capital surpassed Blackstone as the most active buyer in the metroplex over the last five years.
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— Maddy Sperling