real estate
Where are the Real Estate Opportunities for North Texas Dentists ?
by Brandon Fauley
16
Corporate relocations and significant population growth in the Dallas-Fort Worth market has created a surge of opportunities for dentists opening practices .
“ Dallas-Fort Worth ranks as the No . 4 region in the country based on its number of Fortune 500 headquarters . Last year , North Texas added 100,400 jobs , making 2017 the fourth year in a row that the region added more than 100,000 positions ,” according to the Dallas Business Journal .
The U . S . Census Bureau named Dallas , Fort Worth , and Frisco among the top cities with the largest population gains in 2017 .
“ Between 2016 and 2017 , Frisco , Texas ( near Dallas ), was the fastest-growing large city ( population of 50,000 or more ) at 8.2 percent , making its growth rate more than 11 times faster than the nation ’ s growth rate of 0.7 percent ,” according to the U . S . Census Bureau . McKinney and Flower Mound made the top 15 list of fastest-growing large cities as well .
Within the DFW area , what three submarkets are optimal for dentists ?
1 . Far North Dallas
Frisco and McKinney ’ s growth impacts Plano , Allen , and Prosper . The area near the intersection of State Highway 121 ( Sam Rayburn Tollway ) and the Dallas North Tollway is experiencing rapid expansion in retail and the business sector .
Toyota , JPMorgan Chase , Fannie Mae , The Star , and other corporate relocations are driving development of high-end retail and lifestyle centers , such as Legacy West .
Rental rates for dental offices in this area are typically $ 35- $ 40 per square foot for grocery-anchored retail centers . These centers are in high demand by national retailers , such as Starbucks , Chipotle , etc . Stand-alone retail strips are generally less expensive and have a lower demand from national credit tenants .
NORTH TEXAS DENTISTRY | www . northtexasdentistry . com
2 . North Alliance Corridor
“ 50,000 people work in the AllianceTexas development in north Fort Worth ,” according to the Star-Telegram . “ AllianceTexas created $ 4.7 billion in economic impact in 2017 and has a long runway for growth in the future with about 15,000 acres of available land , according to a study by Insight Research Corp . The raw land is just about evenly split between commercial and residential .”
This area is home to Facebook ’ s data center , Amazon and Walmart . com ’ s fulfillment centers , and Alliance Airport . UPS , Mercedes-Benz , and Charles Schwab have announced plans to build in the area .
Rental rates for dental office space are typically $ 30- $ 35 per square foot for high-end grocery-anchored retail centers .
3 . South Fort Worth
Corporate relocations aren ’ t center stage in this area , but the Chisholm Trail Parkway is . A toll road originating from downtown Fort Worth to Cleburne , the “ Fort Worth 121 ” has stimulated numerous residential and retail developments .
The Shops at Clearfork with anchor store Neiman Marcus and Waterside with anchor tenant Whole Foods serves as major retail centers for residents in Crowley , Burleson , Benbrook , and Cleburne . Tarleton State University is opening a campus that will serve 9,000 students .
Chisholm Trail Parkway connects residents to I-20 , I-30 , and I-35W , allowing convenient access to downtown Fort Worth , AllianceTexas , and Texas Christian University .
Rental rates for dental offices are typically low- $ 30s per square foot for grocery-anchored retail centers .
How can North Texas dentists capitalize on these opportunities ?
Families and individuals who are relocating to the area as well as DFW residents moving to different North Texas communities