Dallas-Fort Worth Ranked as Top Target for Commercial Real Estate Investment in 2025, CBRE Survey Finds

A recent survey of commercial real estate investors ranked Dallas-Fort Worth as the top target among U.S. metros. This is the fourth year in a row that the region was ranked at the top in CBRE’s 2025 U.S. Investor Intentions Survey.

Investors are strategically focusing on gateway markets offering discounts and high-growth Sun Belt markets. Dallas maintains its position as the top market for investment for the fourth consecutive year, with Miami ranking second. Boston emerges as an appealing market for investors, with Washington, D.C., and San Francisco also rejoining the top 10 most preferred ranking. Sun Belt markets continue to draw interest, with Atlanta, Raleigh-Durham, Austin, and Phoenix all ranking in the top 10 due to their growth potential.

“The commercial real estate market is set to begin a new cycle as the U.S. economy enters 2025 with renewed momentum,” said Kelly Whaley, Sr. Managing Director, Investor Services. “Capital markets will see a moderate investment recovery, with opportunities emerging across sectors.”

Investment across all product types in DFW is positioned well for continued growth, according to Whaley.

“The office market will continue its revival, marked by a flight to quality and a tightening supply of prime space. Industrial real estate remains tenant-favorable in the near term, but will see demand stabilize at pre-pandemic levels, particularly for modern facilities. Retail enters the year with the lowest vacancy rates in commercial real estate, driving institutional capital back to the sector. Meanwhile, multifamily fundamentals remain strong with robust tenant demand pushing vacancy rates lower despite high supply. The data center market will experience extraordinary growth as digital transformation accelerates, with power constraints shaping future expansion. In this evolving landscape, strategic investment and adaptability will be key to capitalizing on the opportunities ahead.”

Other Key Findings from CBRE’s 2025 U.S. Investor Intentions Survey:

• Investor Sentiment: 70% of investors plan to acquire more assets in 2025, driven by favorable pricing and the improving recovery of real estate fundamentals.
• Investment Recovery: Investors are broadly positive about the overall market and even more so about their own plans, with 75% anticipating a rebound in their own investment activity by the first half of the year and over half already experiencing recovery.
• Property Types: Investors are prioritizing high-quality assets, focusing on multifamily (75%) and industrial & logistics (37%). An increasing number of investors are targeting Retail and Office assets compared to last year.
• Preferred Strategies: Investors are adjusting their strategies to align with the evolving market cycle, with two-thirds favoring value-add and core-plus strategies. This indicates that investors are seeking opportunities that offer higher returns with lower risk amid a continued economic expansion. In line with this trend, opportunistic, core, distressed, and debt strategies have seen declines compared to the previous year.
• Biggest Challenge: Investors cite elevated and volatile long-term interest rates, higher operating costs and an uncertain path for interest rates as the top three challenges in 2025.