By Christine Perez, Senior Communication Specialist
It’s not very hard to find evidence of the construction boom that’s underway in North Texas. All you need to do is look out at the many cranes that are piercing the sky. In fact, there are more tower cranes in operation in Dallas Fort Worth—87—than in any other market in the country.
That’s the word from NBC 5, which recently did a news report on DFW’s top ranking. The television station cited industry expert Reno Russell of Bigge Crane and Rigging, the country’s largest provider of cranes.
Russell called DFW one of the strongest areas in the United States for construction, and said the tremendous amount of growth is a sign of good economic times.
For office tenant representation expert Randy Cooper, Vice Chairman in Cushman & Wakefield’s Dallas office, it’s the diversity of the projects that stands out. “There are cranes everywhere, in every product type and in every submarket,” he said.
The area’s population boom is leading to work in the multifamily, retail, industrial, healthcare, and airport and other infrastructure work, and new office projects can be traced to the tremendous growth in white-collar jobs, Cooper said. “There’s activity in every sector,” he said. “It means, fundamentally, that things must be pretty darn good in Dallas-Fort Worth.”
Of the 87 tower cranes in DFW, 35 are in Dallas County, 24 are in Collin County, 21 are in Tarrant County, and seven are in Denton County, NBC 5 reports.
According to Cushman & Wakefield research, North Texas developers built 22.4 million square feet of industrial space last year and have 20 million square feet in the construction pipeline. Nearly 7 million square feet of new office projects are currently underway.