US commercial property investors now prefer inland cities: report
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US commercial real estate investors are looking inland. The Dallas-Fort Worth area of Texas, prized for its diverse job market and success in luring companies that are relocating, ranked as the top area for commercial property investment in a survey of almost 1,500 real estate executives, according to a report released on Wednesday by the Urban Land Institute and PricewaterhouseCoopers LLP.
Austin, Texas, and Charlotte, North Carolina, followed while the big coastal cities of New York, San Francisco and Boston - traditional magnets for buyers - were deemed less attractive. "Real estate investors shifted from being defensive to more on the offence," Mitch Roschelle, a partner in PwC's real estate advisory practice, said in an interview.
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