The industrial development in Texas is thriving and one investor is looking to capitalize on this trend. Holt Lunsford Commercial (HLC) is set to close a $100 million fund aimed at fueling further growth in North Texas.
According to the Dallas Business Journal, HLC plans to utilize the funding for property acquisitions and entitlements, positioning themselves ahead of competitors. The company has taken an aggressive approach by purchasing land and expediting the entitlement process, which typically takes 12-18 months.
With a continuously growing population in North Texas, HLC predicts an increase in demand for warehouse space as these new residents will require storage for their products. Recent data from the U.S Census Bureau confirms that Dallas-Fort Worth area is projected to be the fastest-growing metropolitan area by 2023 with over 150,000 individuals choosing it as their new home.
HLC currently manages more than 97 million square feet of properties on behalf of private and institutional owners. This latest fund will allow them to continue expanding their portfolio while meeting market demands.
