Covid-19: What’s Working Right Now in D/FW Real Estate
Last week we asked power brokers across the Metroplex:
“What's working for you?” One of the answers surprised us.
Covid-19 turned every investor's shopping list upside down. The first casualties were retail, office and hospitality. So we began the hunt for the best places to be for the long slog thru the pandemic. Here's what we're hearing.
Single Family Lots
As the pandemic empties out big cities, residential lots are a huge beneficiary -- in the right spots. For D/FW that's Haslet, Argyle and anything along the northern tollway corridor from Celina to Sherman. Looking northeast, Princeton, east of McKinney, is a hot spot. We see no end to the suburb trend.
Mobile Home Lots
Record unemployment levels pushed home buying out of reach for millions of Americans. And mobile homes have come a long way in recent years on image -- looking more residential and less mobile. The trick is getting water to the site. It's not readily available in rural areas. We're looking at two right now.
Single Family Rentals.
This was a surprise. When the city of Forney snuffed out the multifamily component of the Tom Thumb site, the developer substituted this product to mollify. Now we find out it's the rage all over. Ten units to the acre. We never knew such existed.
Covid-19 plunged a dagger into new office construction. One niche survived: medical office buildings (MOBs). Usually single tenant, owner occupied, and a tiny footprint -- under 6,000 square feet.