Texas Commercial Real Estate
Four metro hubs — Austin, Dallas-Fort Worth, San Antonio, Houston — nineteen submarkets, and the corridor connecting them. One brokerage built to work all of it.
The Texas CRE Market in 2026: One State, Many Distinct Cycles
Texas commercial real estate is often discussed as a single market. It isn’t — and the difference is where the money gets made. In 2026, our service area is running several distinct cycles at once: Dallas-Fort Worth setting industrial leasing records while its office market splits sharply on quality, Austin working through a supply wave that hands occupiers rare leverage, San Antonio grinding forward on institutional demand while the corridor connecting it to Austin fuses into one economic region, Houston running its own energy-sector cycle independent of the rest of the state, Georgetown carrying the Austin region’s heaviest industrial availability while Bastrop County runs its tightest. A strategy that’s right in Plano can be wrong in Las Colinas; one that’s right in Cedar Park can be wrong in Georgetown, fifteen minutes away. That’s why we build market pages, and client strategies, submarket by submarket.
What the communities share is the demand engine: Texas continues to lead the nation in corporate relocations and population growth, and Central Texas growth is corridor-shaped — the Austin–San Antonio I-35 spine, the 183A northwest arc, the US-290 Hill Country corridor, and the SH-130 eastern arc. Retail illustrates the effect: Austin-area vacancy runs in the low single digits with steady rent growth, because rooftops keep arriving faster than developers build ahead of them.
Industrial is the region’s volume story. The Austin metro’s inventory expanded past 100 million square feet through a historic construction wave, and both Austin and San Antonio are now digesting heavier vacancy — which is precisely where occupier leverage and patient-buyer opportunity live. The digestion is wildly uneven: Georgetown’s corridor carries availability near 30 percent while Bastrop County runs low single digits, and that spread is the single most actionable fact in the regional market. Layered over all of it is the data center and advanced manufacturing wave, with Texas projected to become the nation’s leading data center state and power-served corridor land emerging as its own asset class.
Dallas-Fort Worth runs the opposite industrial cycle at national scale: the metroplex opened 2026 with its strongest first-quarter industrial leasing on record, vacancy compressing toward the high-8-percent range despite one of the country’s largest construction pipelines, and retail construction leading the nation out of Collin and Denton counties. The spread between DFW’s landlord-leaning industrial market and Austin’s occupier window is the clearest example of why metro-level strategy matters — the same requirement gets negotiated completely differently three hours apart, and firms working both ends can arbitrage the difference for their clients.
Office across the region remains a tale of quality. New construction has nearly stopped statewide — the smallest delivery volume in decades is projected — while demand consolidates relentlessly into the best buildings in the best corridors. Austin’s Q1 2026 leasing was its strongest since before the pandemic, concentrated in quality product; commodity space everywhere competes on concessions. For tenants, it’s the best negotiating environment in a generation. For owners, honest positioning inside the quality split is everything.
Three Forces Reshaping Texas CRE
The power grid is becoming the market. Data centers, chip fabrication, and electrified manufacturing have made electrical capacity the scarcest input in Texas real estate. Land with utilities and interconnection timelines is being re-priced across every metro’s perimeter, and industrial buildings with heavy power now trade at premiums their spec sheets alone don’t explain. Texas is projected to become the nation’s leading data center state, and the buyers driving that shift compete for the same corridors as traditional development.
Quality has divorced from quantity. In every metro and nearly every asset class, demand has consolidated into the best product — trophy office capturing most leasing volume, modern industrial absorbing while commodity space sits, anchored retail tightening while unanchored strips soften. Averages mislead; the spread between best and rest is where strategy lives now.
The corridors are the map. Central Texas growth is not evenly distributed — it runs in identifiable spines: the Austin–San Antonio I-35 corridor, the 183A northwest arc toward Leander, the US-290 Hill Country corridor, and the SH-130 eastern arc. Assets on the corridors are priced on trajectory; assets off them are priced on today. Knowing which side of that line a property sits on is the single most valuable piece of underwriting in the state.
How to Play Texas Right Now
If you’re a tenant anywhere in the state: the office negotiating window is generational, and industrial leverage is real in Austin and San Antonio. Run every requirement against the full market with representation — the landlord’s side is always professionally staffed, and in most Texas deals, yours costs you nothing.
If you’re deploying capital: match the thesis to the submarket. Cedar Park and Round Rock for demographic-durable retail and medical NOI; Austin and San Antonio for buying into digestion backed by structural demand; Bastrop County for scarcity-market industrial; medical and corridor land everywhere. Our investment practice underwrites all of it against closed comps before anything reaches your inbox.
If you’re a business owner: elevated vacancy in several segments plus SBA 504 financing at roughly 10% down makes this one of the better owner/user buying environments in years. Run the lease-versus-own math before your next renewal — the answer may have changed since you last checked.
If you’re an owner or seller: position honestly inside the quality split, price against verified comps, and remember that buyer pools differ sharply by asset class and metro. A current broker opinion of value is the cheapest strategic input you can buy — ours is free.
Four Metro Hubs, Nineteen Submarkets
Austin →
Our home market. Elevated vacancy meets the strongest long-term demand story in Texas — a precision market where occupiers hold leverage and the next cycle’s demand is already signing leases.
Georgetown · Round Rock · Cedar Park · Dripping Springs · Bastrop County
Dallas-Fort Worth →
The largest, most liquid CRE market in Texas — record industrial leasing, flight-to-quality office, and nation-leading retail growth. Both principals work the metroplex — every engagement carries senior-broker attention.
Dallas · Fort Worth · Plano / Frisco · Irving / Las Colinas · Arlington
San Antonio →
Military, medicine, and manufacturing anchor a market that grinds through cycles — while the I-35 corridor toward Austin delivers the state’s most compelling long-term land and industrial story.
Stone Oak / North Central · Medical Center · Alamo Ranch / Far West · Downtown / Southtown · New Braunfels / I-35
Houston →
Energy, medicine, and Gulf Coast trade make Houston the state’s most diversified economy — worked on the same statewide platform with active local execution and broker partner depth.
Galleria / Uptown · Heights / Washington Ave · Montrose / Museum / Midtown · Energy Corridor
Texas by Asset Class
| Asset Class | Statewide Picture | Where the Opportunity Is |
|---|---|---|
| Industrial | DFW setting leasing records with vacancy near 9%; Austin and San Antonio digesting delivery waves; Georgetown near 30% availability while Bastrop County runs low single digits. | Landlord-leaning in DFW, occupier leverage in Central Texas — the spread is the strategy; power-served land wins everywhere. |
| Office | Construction nearly stopped; flight to quality dominant; trophy rents growing while commodity space concedes. | Tenants: a generational negotiating window. Owners: reposition or price honestly. |
| Retail | Low single-digit vacancy statewide; steady rent growth; the nation-leading pipeline concentrated in DFW’s Collin/Denton counties and the corridors where rooftops grow fastest. | Landlords hold pricing power; tenants win with speed and representation; investors find dependable NOI. |
| Medical | Healthcare demand growing in every metro, unhooked from the office-work debate. | Practice ownership via SBA structures; MOB and medical condo holds. |
| Land | Statewide pricing durable through the rate cycle and growing again; corridor and power-served sites lead. | The I-35 spine, the SH-130 eastern arc, the US-290 Hill Country corridor — and any acreage with utilities. |
One Firm Across the Whole State
Most boutiques cover one city. Most nationals cover the state through teams who’ve never shared a client. 7 Streams works Texas as a connected system: both principals work every market in the footprint, the same senior brokers carry every engagement, the same underwriting standard applies, and the eXp national network behind every engagement, whether the requirement is a Plano office floor, a Round Rock flex bay, a Bastrop County land position, or a San Antonio medical condo. The closed record backs it: 43 verified transactions across five states — 26 in the Austin area, 8 in the metroplex, and a multi-state medical program among them. Browse the record.
Statewide Services
- ✓ Tenant Representation in every major metro
- ✓ Investment Sales with statewide buyer pools
- ✓ Site Selection across all our markets at once
- ✓ Land Brokerage on the growth corridors
- ✓ Portfolio Dispositions spanning multiple metros
Practical Notes for Multi-Market Texas Strategy
Central Texas rewards multi-market thinking because its communities trade leverage back and forth: the industrial tenant facing a landlord’s market in Bastrop County holds the cards in Georgetown, twenty minutes’ difference; the retail concept priced out of Central Austin finds its basis in Round Rock or on the San Antonio corridor; the 1031 seller exiting one submarket often finds the replacement math works better in another. Statewide advantages compound across all of them — no state income tax, a business climate that keeps winning corporate relocations, property tax protest as a standard ownership discipline, and triple-freeport exemptions that materially change industrial occupancy math for inventory-heavy users. The friction points are local: permitting timelines, utility districts, deed restrictions, and incentive postures vary city by city, which is why a statewide strategy still gets executed one jurisdiction at a time. One firm running the whole corridor means the arbitrage between communities is visible in a single conversation — that’s the practical case for working Central Texas as a system rather than a collection of separate searches.
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