Mesquite/Forney/Terrell Commercial Real Estate Market
Mesquite/Forney/Terrell is a small office submarket, located on the eastern edge of the D-FW metroplex. The majority of the submarket’s inventory is located in Mesquite, which was considered a hot market in the 1960s, ’70s, and ’80s but has remained relatively stagnant in terms of employment and population growth in the past few decades. Similar to other low-inventory, outlying submarkets, vacancies here are structurally low due to the lack of large multi-tenant spaces. Rents here are some of the lowest in the metro and register about 75% of the metro average.
This area is one of the few in the metroplex that has inexpensive homes and large tracts of empty land within commutable distance of the Dallas CBD. Developers continue to build relatively affordable homes in this area. For example, Petro-Hunt’s $1 billion mixed-use Gateway project in Forney is well underway and will serve as a center of gravity for the submarket once it’s fully built out. While these factors could eventually spur growth in the office sector, it’s unlikely that large office-using tenants will choose to locate here soon.
Property types are as follows:
Office 248 Buildings/2 MSF
Warehouse 384 Buildings/11.2 MSF
Medical 11 Buildings/201 KSF
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