Industrial Submarkets You Should Be Watching
A few years ago, Hillwood Properties senior vice president Tony Creme would say that cash is king and land is queen when it comes to industrial development. These days, he says land is king. And where is the biggest concentration of developable industrial land? South Fort Worth. It has the same access to I-20 for all those companies needing to move East and West, Creme said.
Creme wasn't the only panelist at Bisnow's 6th Annual Industrial Event bullish on South Fort Worth. NAI Robert Lynn industrial president and principal Rick Medinis agreed the area is poised for growth.
From a construction standpoint, Majestic Realty Co. senior vice president Al Sorrels said South Dallas is clearly hot. Of the 22M SF of industrial under construction, more than one-third is in South Dallas. But it does not take many brake lights to totally change the dynamics of the market, Sorrels said.
With so much submarket-specific building, each sector takes on a life of its own, Medinis said. The tried-and-true Brooke Hollow and Trinity submarkets have evolved considerably. Medinis thinks McKinney could see some industrial growth also.
Duke Realty senior vice president Jeff Thornton is wondering at what point Denton starts to make sense. South Dallas has few, if any, barriers to entry, the northwest sector of the Metroplex is full and development around the Airport will be on a ground lease, Thornton said. As things progress, he expects to see Denton become a more attractive submarket.