Austin Ranks High for Top Commercial Real Estate Markets
Austin has been ranked as one of the top commercial real estate markets in the country, according to a new report from the Urban Land Institute. The UIL recently published the Emerging Trends in Real Estate review for 2014 to coincide with its annual conference that took place in Chicago this November.
Austin ranked 7th on the list. The report gave props to the capital city for strength in areas including employment growth, housing construction and opportunities for new business. Lower taxes combined with highly-trained employees also contribute to Austin's top ranking.
The report claims that investors are now more willing to take higher risks and a trend has emerged for them to turn secondary markets.
San Francisco again ranked first on the list. Other cities that made the cut include Houston, San Jose, New York City, Dallas/Fort Worth, Seattle, Austin, Miami, Boston and Orange County, CA.
To the surprise on many, some large markets that were not included on the top list were Atlanta, Chicago, Phoenix and Philadelphia.