he eyes of Texas — and the entire world of commercial real estate — appear to be upon Austin.
In a new survey from commercial real estate services company CBRE, commercial real estate investors rank Austin first among U.S. metro areas for investment prospects in 2021. Austin knocked Los Angeles off its previous first-place perch. Dallas-Fort Worth comes in at No. 2, with Los Angeles holding down the No. 3 spot.
Austin appeared at No. 3 in CBRE’s 2020 survey and No. 11 in the 2019 version. Dallas-Fort Worth ranked second in 2019 and 2020, while LA ranked first in those two years.
“The Sun Belt markets of Austin, Dallas, Phoenix, and Atlanta were among the top-performing metros where the least number of jobs were lost in 2020,” CBRE says in its survey findings.
For the first time in the history of the CBRE survey, big-time investors (those that manage assets of more than $50 billion) preferred smaller markets like Austin and Dallas-Fort Worth over mega-markets like New York City and San Francisco.