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The Texas Commercial Real Estate Market in 2023

As the saying goes, everything is bigger in Texas. That is especially true of the Lone Star State’s commercial real estate market. In the coming years, five of Texas’ major markets—San Antonio, Austin, Dallas-Fort Worth, Houston, and Frisco—are projected to become even bigger players in the national real estate arena. Let’s take a closer look at what these cities have in store for commercial real estate professionals in 2023.

3 min read

San Antonio – San Antonio has seen a steady growth of commercial office space since 2018 and that trend is expected to continue in 2023 with more office space being built in downtown San Antonio as well as outlying areas. With industrial vacancy rates dropping to an all-time low—less than 5%—it's safe to say that demand for warehouse and manufacturing space will remain strong throughout the year.

Austin – Austin’s economy continues to thrive with no signs of slowing down. This is great news for commercial landlords as they can expect rent prices to continue their upward trend throughout 2023. Another interesting development in Austin is the increasing demand for coworking spaces which will likely continue through the next few years as more businesses are attracted to this vibrant city.

Dallas-Fort Worth – Like many other parts of Texas, DFW has been experiencing tremendous economic growth over the past several years and that trend looks set to continue into 2023 with a continued influx of new businesses into this bustling metropolis. While industrial space remains tight due to high demand, there are plenty of opportunities for investment in retail and office spaces across DFW which should prove profitable by year’s end.

Houston – The Houston commercial real estate market has seen some ups and downs over the past decade but it looks like things are finally settling down and stabilizing heading into 2023. With more businesses moving into the area every day, there will be plenty of opportunity for investors looking to capitalize on this resurgent market. Across all property types—industrial, retail, office—investment potential remains high with plenty of room for growth over the next 12 months or so.

Frisco – Frisco is one of Texas' fastest growing cities and its real estate market reflects that rapid expansion rate quite clearly. Currently there are numerous projects under construction across all property types including retail stores, apartments complexes and industrial warehouses making it an ideal location for those looking for both short-term investments or long-term growth opportunities within a thriving community atmosphere .

By 2023, it's clear that some exciting changes are ahead for many Texas markets when it comes to commercial real estate investment opportunities . From San Antonio's downtown boom all the way up north through Dallas-Fort Worth and Houston before ending off with Frisco's vibrant community atmosphere , there will be something here for everyone who wants to get involved . Whether you're interested in short-term investments or long-term growth opportunities , now is definitely a great time to get involved with commercial real estate investments within these booming Texas markets!    ​ ​​​​

All information provided has been obtained from sources deemed reliable.  However, neither Victory Real Estate Group nor any of its brokers, agents, employees, officers, directors or affiliated companies (collectively, Victory Real Estate Group and Related Parties) have made an independent investigation of the Information or the Information sources, and no warranty or representation is made by Victory Real Estate Group and Related Parties as to the accuracy of such Information. The Information is submitted subject to the possible errors or omissions, and no person or organization should rely on the Information, unless such person or organization has conducted and independent investigation to confirm the accuracy thereof.

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Ela Valenzuela
Partner Editor Victory
May 3, 2024

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