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Supply, Demand Hardy, But Willing Sellers Just Hard to Find

DALLAS-There's product and there's demand, but neighborhood and community centers just aren't changing hands in the state's major cities. Good tenancy, good consumer sales and a volatile stock market have owners clinging to their assets.

By Connie Gore | Updated on October 01, 2001

DALLAS-You can shop till you drop in Texas, but you can’t always buy what you want. Investors looking to pick up the hot ticket–neighborhood and community centers–are finding it’s slim pickings.

Property owners, reaping steady returns, aren’t parting with holdings. The incentive to sell real estate isn’t there, at least not with the stock market being so volatile. It’s good steady income, consumer sales are high and occupancy on the average is 95% in Texas’ Big 4 of Dallas-Ft. Worth, Austin, San Antonio and Houston. And, the few who do sell have would-be buyers pushing the price, say area executives.

The hottest ticket, if it can be found, is a grocery-anchored center. There’s ample quality product, but not an ample supply of willing sellers, Jim Batjer, senior director of Dallas-based Holliday Fenoglio Fowler, tells GlobeSt.com. These days, many owners are electing to refinance instead of sell. Leading retail brokers in Dallas-Ft. Worth and Austin concur all the way down the line with Batjer’s assessment of the market.

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