Rapid development has been ruling much of Texas’ main city headquarters where even its vast landscape that is more than double some US metros is reaching its limit. With no shortage of demand, commercial properties are expanding at record breaking numbers as more businesses are making an investment towards the future in the lone star state. Doubling down this increased need and pressure for new development, residents are also flocking in to take advantage of Texas’ growth spurt towards that has positioned it as the fastest growing state in the US.
In less than two decades the metro of DFW has shown success across its many business districts and neighboring residential areas. Locations in the North Texas area such as Mesquite, Northgate, Valwood, Frankford, North Dallas, and Waters Ridge were much less a thriving city ten, twenty years ago to where they stand now as some of the most desirable areas in the state. The advantage Texas and its city locations had over other urban areas in the nation was the untapped growth potential it provided from vast land availability and resource accessibility. The North Texas areas even went as far as fitting into what investors classified as second tier in the investment market as the concern of rate sustainability existed from widely accessible supply available in the region. However as steadily growing populations continue to top the charts as well as the number of commercial entities relocating and expanding operations in these areas, the North Texas region is fostering more and more traditional cities that have limitations on developable industrial land.
Although a positive sign for the current commercial operations in the state’s Northern business parks that now have more predictability in the available supply vs demand, new projects looking to enter the metro area are being faced with finding new locations to develop. Property development firms are often part of the ahead of the curve thinking where investments are made into up and coming cities to turn them into the state’s future thriving economies. Western Rim Properties, a leading property firm headquartered in Texas has been a part of this upswing in building out the infrastructure of residential rental properties in locations such as Dallas, Austin and San Antonio; specifically tapping into once underdeveloped areas that surrounded the major cities.
The transition to find new locations to invest in is already in full swing by Western Rim and other firms looking to build out new locations that can supplement the state’s growing commercial and residential volumes being pushed out of other congested areas. Now that the well-established business parks of North Dallas are coming close to their peak, other areas in the DFW metro in locations such as Garland, Farmers Branch and Arlington are being targeted for new construction and investment projects.
One particular location surrounding the Dallas city center, Farmers Branch is already building upon its industrial parks and residential communities to take advantage of new growth potential. With three of its new rental constructions set for the Farmers Branch area, Western Rim Properties has set its sights on the city to be part of the next generation of the DFW metro. Focused on the recipe for success when making decisions on what cities to invest in, WRP and other property firms must ensure locations are on the trajectory for continued growth. ”Farmers Branch has a close proximity to the Dallas city center, is seeing massive increases in its commercial infrastructure and will be an affordable option for new and existing residents in the state looking to be closer to where the biggest opportunities are.” shares Marcus Hiles, CEO and founder of WRP who has made big bets on other Texas locations throughout his 30 year career in the state. With three new projects set to open spring of this year, the firm is expecting it will be one of the early investors who will help shape the Farmers Branch city into an even bigger economic engine for the state.
Looking to the past and the future, cities such as Farmers Branch have proven they can support industrial land development as they have done in past decades. Now it will be up to both developers and businesses to invest accurately to increase new markets and broader demand that will bring some of the success their North Texas counterparts have seen.