Corporate Relocation: ‘Although This Downturn Comes With Unique Challenges, North Texas Has a Lot Working in Our Favor’

How has the pandemic impacted corporate relocations? We talk with eight commercial real estate experts about challenges, opportunities, and the market outlook for the rest of 2020 and beyond.

Here’s how DFW is a place for the future.

What made Dallas-Fort Worth one of the top corporate relocation markets before COVID-19 will continue to power its success in the coming months and years. So say the experts on the front lines of helping businesses find room to grow.

Economist Ray Perryman said, “I think the Dallas-Fort Worth area will continue to be a center for growth once the pandemic is under control. The area offers a good mix of what companies are looking for, from workforce and infrastructure to a business-friendly climate.”

While most sectors of the economy took hits in Q2—especially retail and hospitality—a few areas in North Texas saw significant growth, including e-commerce, industrial, cybersecurity, and homebuilders.

In the short term, many businesses hit the pause button on projects because of uncertainty or supply chain challenges. And there appear to be significant trends that should remain after the pandemic, including more opportunities for employees to work from home, abundant creativity in how to tackle business on virtual platforms, and changes in space requirements at work and home.

“Although this downturn comes with unique challenges, North Texas has a lot working in our favor, ” Hillwood President Mike Berry said.

Berry looks forward to the day when we can return to normal, but when we do, “we’ll take some of this period’s best practices and incorporate them into how we do business going forward.”

How DFW is a place for the future from eight commercial real estate experts:

‘North Texas Has a Lot Working in Our Favor’
Mike Berry
, President, Hillwood

‘There Will be New Opportunities’
Shane Shepard, Economic Development Director, City of Lancaster

‘It Is Reasonable To Expect That the Area Will Fare Especially Well’
Ray Perryman, The Perryman Group

Site Selection Group Partner Sums Up the DFW Commercial Real Estate Market in 8 Words
Lee M. Wagner,
Partner, Corporate Real Estate Services, Site Selection Group

Inquiries by economic development agencies “are up by a significant multiple over this period last year”
Joel Pustmueller
, Managing Director, Brokerage, JLL

‘We’re Seeing More Companies Investing in Their Existing Footprint’
Beth Bowman,
President and CEO of Irving Economic Development Partnership

‘We Believe Cities Like Frisco Will Benefit by the Return of Growth To the Suburbs’ 
Jason Ford
, Economic Developer and Vice President, Frisco EDC

The Future Is Bright for Dallas-Fort Worth Corporate Relocations and Consolidations
Jeff Ellerman
, Vice Chairman, CBRE

A version of this story first published in the Summer 2020 edition of the Dallas-Fort Worth Real Estate Review.

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