The Best Ever CRE Show JF 4084: Data Centers, AI Disruption and The Case For Small Bay Industrial with John Chang
Nov 9, 2025
John Chang dives into key insights from the Urban Land Institute’s Emerging Trends report, spotlighting top markets like Dallas and Miami. He discusses the appeal of sectors such as seniors housing and small bay industrial over data centers, especially in light of AI's energy demands. Chang emphasizes potential investment opportunities in markets like Tampa and Nashville, while also analyzing risks in Chicago and New York. He suggests that current lending conditions may set the stage for strong returns, urging investors to act strategically.
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Dallas: Long-Term Strength, Short-Term Supply Pain
- Dallas-Fort Worth remains a top long-term market due to jobs and in-migration despite short-term rent weakness and heavy multifamily construction.
- Construction will burn off and create selective opportunities, especially in non-multifamily sectors.
NYC Politics Can Reorder Market Rankings
- New York submarkets (Jersey City, Brooklyn, Manhattan) made the ULI list but political shifts could change capital flows and policy risk rapidly.
- Watch local policy and mayoral action as rent control talk could materially alter multifamily returns.
Miami's Momentum Comes With Material Risks
- Miami shows strong momentum but faces overdevelopment, slowing in-migration, and high hurricane-driven insurance costs.
- Those structural risks can blunt returns despite past rapid appreciation.