Dallas Fort-Worth has recently experienced explosive population growth that is expected to continue for the foreseeable future. The annual population growth of DFW was beaten by only one city nationally from 2014 – 2024, where over 1,000,000  new residents were added. As of December 2024, DFW had a population of 8,100,000 total residents with a GDP of 700 billion. 

 

Moody’s projects that DFW will lead the nation in population growth over the next five years, with estimates in excess of 1,000,000 new residents. There is significant opportunity to buy, improve, and re-lease existing buildings for significantly less investment than new construction, due to COVID-19 and the Work from Home mandate the last 5 years. Given supply/demand dynamics, construction costs are at record levels for commercial construction. Current new construction costs for Class A buildings are in the $350-$600/PSF.

 

Given supply/demand dynamics, construction costs are at record levels for commercial construction. Current new construction costs for Class A buildings are in the $350-$600/PSF.

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Massive corporate relocations and other job/population growth is leading to increased rental rates and higher occupancies in Texas due to the out migration from states like California. 

 

Toyota Motors North American headquarters relocated from California to 100 acre site in “Upper Far North Dallas.” 15,000 initial jobs have already come to the market in 2017-2024.

 

Liberty Mutual has completed and is occupying a large service center in Legacy West near the Toyota Headquarters, and is expecting to employ 5,000 employees as of 2024.