Dallas-Fort Worth is one of the fastest growing metro areas in the country right now. With our declining unemployment rate, well-educated workforce and an influx of new residents moving to the area every day, we’re well-positioned for continued growth in the commercial sector.
In 2012, we saw increased activity around the Metroplex in concentrated pockets. In downtown Dallas, for example, the city’s visual and performing arts institutions have moved in and created their own neighborhood, a new Arts District, which has become a vibrant addition to the downtown landscape. Midtown has been strong in retail and mixed use.
North Dallas is booming with retail right now. A recent announcement that the Nebraska Furniture Mart is building a $1.5 billion, 433-acre complex in The Colony has been a real game changer for the area. The new facility, to be completed in 2015, will include a showroom and distribution center, and bring approximately 1,700 jobs and 8 million visitors per year. Anticipation of the local economic boost has spurred interest from grocers and retailers, who are preparing to accommodate the flood of people to the area.
As we head into 2013, we are excited about the opportunity to move the needle here as the economy recovers. It’s a little early to tell if the momentum of 2012 will continue, but as of now, it looks promising. More people are getting back to work and getting out of debt. Businesses are expanding, and there’s a general feeling that a vibrant economy is on the horizon. Locally, we can already feel the excitement as we have more transactions come through the door. Customers who’ve been discussing projects for years are starting to move on them. In fact, we recently secured two new customers in two days – both of whom we had been talking to for two years.
Our local Stewart offices are lucky to have a diverse base of clients across many different segments. In 2012, nearly half of our business was comprised of transactions in the entertainment, multifamily and retail sectors. In 2013, we will likely continue to see many transactions in those sectors, with an increase in industrial and hotel business as well.
As business picks up, it’s important to remember the value of service. At Stewart, we take pride in giving the best customer service possible through transparent transactions and frequent updates. Our customers expect us to know the business and close the deal, but moreover, they want to know we’ll go above and beyond for them. If we can’t “wow” them, the rest won’t matter. It’s probably true in most places, but here in the DFW Metroplex, responsiveness and impeccable customer service keeps people and companies coming back.