A recent report released by the Star-Telegram confirms why Fort Worth commercial real estate is such a valuable commodity. According to the results of a survey taken with close to 1,500 real estate executives, Dallas-Fort Worth is the top area for investment in real estate for commercial purposes .
The survey was conducted by PricewaterhouseCoopers LLP and the Urban Land Institute. A partner at PricewaterhouseCoopers, Mitch Roschelle, is one of the company’s top real estate advisors. Roschelle believes investors are moving from defensive investments to offensive investments when it comes to Fort Worth office space and other facilities. He says investors “are realizing that they need to go to those markets that are really creating jobs. The big gateway markets, while they’re creating jobs incrementally, they’re not creating as many jobs.”
Fort Worth Commercial Real Estate Attracts a Younger Demographic
As reported by Roschelle, Fort Worth commercial real estate is part of an attractive group called “The Villes.” The group is bringing in a younger demographic looking for small scale restaurants, retail, night life and other commercial opportunities that can compete with the likes of San Fran and the Big Apple alongside affordable housing and employment that allow mobility. “The Villes” has become appealing as an alternative to soaring prices consuming most primary markets on the coast. Among the cities included here are Nashville, Louisville, Knoxville, and Jacksonville.
Also on the list of areas with top commercial real estate prospects are Charlotte, Austin and North Carolina. At the opposite end of the spectrum, the list surprised by including the likes of New York, Boston and San Francisco. The major cities were considered less prosperous aspects for the commercial investor. PricewaterhouseCoopers’s Roschelle reports that the bigger cities like New York and San Francisco are being viewed as growing but in a slow and steady pace, compared to more aggressive returns coming out of the secondary markets.
One of the major factors in the growth of Fort Worth office space has been the economy’s shift away from oil. Major industry growth in the finance, technology, medicine and education sectors have played a significant role in the city becoming number one in the current rankings. This differs from other Texas regions like Houston , a city that is seen as putting too much stock in oil. While previous reports had seen Houston rank high – last year it was number one – the recent survey sees it fallen down to number 30.
There is also concern among investors that the market’s current high costs could prevent their enterprises from attracting the good workers needed to manage an economy’s vibrancy.
Entertainment Options in Fort Worth
There is no denying that some areas give way to a younger demographic, which ultimately allows it to embrace a more exciting way of life. When paying attention to the endless entertainment options to be found in Fort Worth, it is hard to resist planning your night on the town, but try to resist the urge until you make it through the list of options:
- Amon Carter Museum of American Art: Pays homage to Western civilization and its art.
- Kimbell Art Museum: Arts of all types call this place home.
- Fort Worth Botanic Garden: A day spent in the rose gardens and at nature school is a day well spent.
- Modern Art Museum of Fort Worth: A special focus is placed on WWII works in this celebrated building.
- Texas Cowboy Hall of Fame: Pays homage respectfully to the rodeo life.
- The Nancy Lee and Perry R. Bass Performance Hall: This elegant performing arts building is perfect for a special night out.
- Casa Mañana Theater: Traveling to Broadway has never been so easy thanks to this theater, which specializes in renditions of the classic plays and musicals.
- Fort Worth Zoo: Perfect for the avid animal enthusiast or for those with children; this zoo is home to over 7,000 animals.
Of course, plenty of fine dining takes precedence here, as do movie theaters and shopping opportunities.
Of course, all of the options for entertainment also coincide with employment opportunities. The young population of Fort Worth undoubtedly creates an eager atmosphere for those who refuse to remain stagnant within their careers, or cooped up on their couches each day. If the customer service or entertainment industry is not for you, fear not; other opportunities are available as well!
Home to plenty of warehouses, honest work is made possible in this area. Car lots make it possible to channel your inner salesman; call center representatives are perfect for mothers who need to stay at home. The many businesses create the need for secretarial jobs and the growing population requires the need for professionals, including doctors, dentists, police officers, and government officials.
Weather Attracts a Young, Active Demographic
Typically divided into warm and cold seasons, the weather in this area is not for those who prefer long, cold months. The dry climate is perfect for growing crops such as corn, beans, peppers, wheat, and barley, so those who enjoy living off the land should invest in this city.
The Warm Season in Fort Worth
Lasting from May 31 to September 16, the daily temperatures tend to be 88 degrees. The hottest day of the year tends to be July 27 when the temperatures reach over 100 degrees. Enjoying one of the area’s many lakes is ideal this time of year.
The Cold Season in Fort Worth
From November 26 to February 21, the average temperatures are 63 degrees and higher. The coldest day is January 13 when the average temperature is 35 degrees.