Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Austin Ranks High for Development Opportunities
Austin offers one of the most favorable development markets for commercial construction in the U.S. according to CBRE’s U.S. Development Opportunity Index. The region secured the ninth overall spot on the inaugural list with sector rankings of fifth for retail development opportunities, sixth for office, seventh for multifamily and 18th for industrial.
The report, which analyzed the top 50 U.S. markets by population, scored markets based on four performance categories: construction costs, fundamental strength of existing supply, prior cycle performance and property forecast.
“As the population of the greater Austin area is on pace to grow 25% or more in the next 10 years, construction in the area will need to keep up with the additional demand for commercial real estate,” said Brian Jarrett, senior director with CBRE Project Management. “We expect construction pricing will remain highly competitive due to number and quality of construction firms in the area.”
For comments, questions or concerns, please contact Lisa Brown
- ◦Development
