Tom Pearson sits down with Dallas Business Journal
Thomas Pearson, Executive Vice President:
The 2023 land buyer could likely be the developer who may have private or foreign capital sources, has a build-to-suit tenant who is willing to commit to leasing a new building at the rate necessary to make the project financeable, or a user who wants to build and own their own building.
The 2023 buyer could also be an investor who has private funds or 1031 funds to invest and is willing to purchase the land at a price the investor deems satisfactory and would allow that entity to wait until economic conditions change so they can either re-sell the land or build a project.
We see continued demand for large-scale sites by users who are having to look for land that is probably two years out before being ready to build.
All the infill sites have been picked over, and the established submarkets are almost fully developed.
We continue to look at emerging markets and areas once considered far out which are now considered part of the DFW MSA, i.e., areas like Denton, Forney, Midlothian, Cleburne, Aledo, Sanger, and of course, we are still very high on southern Dallas County.
Originally posted by Dallas Business Journal, read full article here.
