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Wednesday, Feb 21, 2024

Trusted Advisors: The Perry Report – Insight into Dallas/Forth Worth Real Estate

ALEX PERRY
214.926.0158
alex.perry@alliebeth.com
Allie Beth Allman & Associates


If you’re looking for opportunities of where to live and do business, understanding Texas and the Dallas/Fort Worth area could be important. With approximately 300 Californians per day moving to the state of Texas and many others considering investing in the Lone Star State, Alex Perry, the #1 real estate agent in Texas, listing and selling the most, will continue to give insight into Texas real estate from all angles—living, investing and understanding.

A New Financial Center: North Texas has just surpassed the Windy City and Lalaland on a list that is turning heads in the business world. Dallas-Fort Worth is now No. 2 in the number of finance workers, trailing No. 1 New York. Think Goldman Sachs, Wells Fargo, and Bank of America and their plans for new banking campuses and buildings in the Dallas area.

Most Expensive Mix: Dirt is moving on Dallas’ most expensive mixed-use development project. Todd Graves of Raising Cane’s reportedly has bought the two penthouse floors of the new luxury condominiums with a price tag of over $2,000 a square foot. The Knox, represented by Alex Perry, is by Auberge Resorts that will also have a 140-room hotel in the 4-acre development, valued at more than $600 million. The plans include additional apartments, office space, retail and restaurant space. Completion is expected in 2026.

Soaring News: Airports are seen as one of the major economic drivers for a region and Dallas-Fort Worth International Airport’s plans for growth could one day make it the world’s busiest airport. DFW International Airport is the second busiest in the world now with more than 73 million passengers going through its roughly 170 gates each year, behind Atlanta’s Hartsfield-Jackson. But the North Texas airport, home to Fort Worth based American Airlines, has phase plans for $7 billion in renovations to terminals.

■ Still Leading: Commercial transactions were down in North Texas last year, but Dallas kept its top ranking of the most commercial real estate deals of any large U.S. region. MSCI Inc. says that nearly $19 billion in commercial property transactions were recorded in North Texas last year. Although Dallas had a decline from 2022, it still beat out Los Angeles, Manhattan, and Chicago.

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