DALLAS, Jan. 8, 2008 – After arriving late to the most recent economic recovery, the Dallas/Fort Worth Metroplex will sustain relatively strong growth this year, supporting local apartment demand, according to the 2008 National Apartment Report by Marcus & Millichap, the nation’s largest real estate investment services firm. The rate of job growth will remain significantly above the national average, including a more than 3 percent expansion in the traditionally lower-paying leisure and hospitality sector.

“The Metroplex’s positive long-term economic outlook and above-average returns will continue to attract investors in 2008,” says Tim A. Speck, regional manager of the Dallas/Fort Worth office of Marcus & Millichap.

Following are some of the most significant aspects of the Dallas/Fort Worth Apartment Research Report:

Employers will continue to expand and migrate into the Metroplex this year, boosting payrolls 1.9 percent with the addition of 57,500 jobs.
After delivering 5,260 units last year, builders are ramping up construction activity, with 8,000 units forecast for 2008.
Steady absorption is expected to offset deliveries in the Metroplex, leaving vacancy unchanged at 8.5 percent this year.
Asking rents are forecast to climb to $780 per month by year end, while effective rents will reach $716 per month, gains of 3 percent and 3.3 percent, respectively.
Extension of state Highway 121 into the Southwest Fort Worth submarket will facilitate shorter commute times into the Fort Worth CBD, making the area more attractive to potential residents and apartment owners.
Also included in the report is the firm’s annual National Apartment Index (NAI), a snapshot analysis that ranks 43 apartment markets based on a series of 12-month forward-looking supply and demand indicators. Dallas/Fort Worth moves up four places this year to No. 23.

In the 2008 NAI, San Francisco moved up seven places to take over the top spot, surpassing last year’s leader, New York City, which slipped to No. 3. Seattle moved up five places to the No. 2 spot. San Jose climbed eight positions to the No. 4 slot. Oakland holds the No. 5 position, down two places from last year.

For a copy of Marcus & Millichap’s National Apartment Report and the complete NAI rankings, visit www.MarcusMillichap.com.

With more than 1,300 investment professionals in offices nationwide, Encino, Calif.-based Marcus & Millichap Real Estate Investment Services is the largest commercial real estate brokerage in the nation focusing exclusively on real estate investments. In 2006, the firm closed $20.5 billion in transactions. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization; local market expertise; the industry’s most comprehensive research and analysis capabilities; state-of-the-art technology; and established relationships with the largest pool of qualified investors nationally.