Industrial and multifamily construction is dominating the D-FW building market, LGE Design Build says.since its mid-2022 climax, more than 15.6 million square feet of leased industrial space is slated for delivery soon in North Texas, the report said. The core of that space is located in Kaufman, Denton and Collin counties.LGE’s research found that the market remains buoyant despite headwinds such as rising costs and a constrained capital markets environment.
LGE reported there haven’t been significant material shortages, such as structural steel, lumber and concrete. That bodes well for smoother construction execution. The firm found that with capital being deployed and debt placed on significant developments, there is a sense of optimism, especially as many look ahead to anticipated interest rate cuts.“When we decided we wanted to go out into a new market beyond Phoenix, we wanted it to be a bigger, pro-growth market. Something that was going to be a growing economy for the next 10 to 20 years,” said David Sellers, president and CEO of LGE Design Build and founding partner of Creation.
With Creation, which develops across a variety of asset types, Sellers has noted that a lot of the groups that were sitting on the sidelines last year are getting active again. He attributes that to the idea that most believe the U.S. has seen the end of Fed increases and are hoping to see interest rate cuts at some point this year.
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