The 112,000-square-foot Pacific Pearl Shopping Center is already 90% leased and opened, located off of Interstate 580 at 2693 Stoneridge Dr., across the street from the San Francisco Premium Outlets.
Based on projects underway and announced openings, DFW is on track to add approximately 3.48 million square feet of retail space, hitting the 200-million-square-foot mark for the first time this year.
Investors are drawn to industrial properties such as the Northgate Business Park, significant due to its location in the North Dallas/Garland submarket, an established, strong and stable area in high demand.
For-sale inventory in June remained tight, at a 3.9-months' supply for single-family homes and 5.5-months' supply for townhouse-condo properties, according to Florida Realtors.
Renters in the region absorbed approximately 9,155 units so far this year, which was roughly three times the number of units absorbed during the first half of 2017 and which far outpaced the 6,336 apartment deliveries year-to-date.
Dr. Jerry Parrish, Florida Chamber Foundation chief economist, who forecasted earlier this year that Florida would reach the new $1-trillion economy threshold sometime in 2018, says the milestone was achieved last week. He notes that Florida is adding $2.74 billion each day to the state's GDP.