HEB Mid-Cities Commercial Real Estate Market
HEB/Mid-Cities is a suburban office submarket bordering the Dallas/Fort Worth International Airport. The most recent major move involved American Airlines taking nearly 150,000 SF at its new operations center in 2015. American was also responsible for the large reduction of space in 2016: It demolished the 560,000-SF Trinity Building in 16Q2. On that land, the company is constructing a 1.7-million-SF campus, which is scheduled to complete in late 2019 or early 2020.
Most office product here is sub-investment-grade. The average asset is smaller than 20,000 SF, and very little overall inventory is class A & B product. Rents were slow to recover from the downturn, but rent growth has picked up in recent years.
Rents are still only about 10% above their prerecession peak. This submarket generates plenty of sales, mostly involving fully leased or almost fully leased buildings smaller than 50,000 SF.
Property types are as follows:
Office 524 Buildings/7.6 MSF
Warehouse 1039 Buildings/26.3 MSF
Medical 51 Buildings/1.1 MSF
If you would like building specific information fill in our Free HEB/MId-Cities Commercial Space Report and submit it to us. We will respond quickly with valuable building information that you can use to locate your commercial space.
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