One anecdotal measure of success in any business is if everyone else is doing it. For big commercial real estate investors, like U.S. pension funds, Dallas ranks in the top 10 markets. As of year-end 2010, reporting members of the National Council of Real Estate Investment Fiduciaries—think: very large U.S tax exempt pension funds—had invested more than $247 billion in 6,175 “institutional quality” real estate properties in the United States. That’s an average property value of just over $40 million, so these are some of the strongest—and savviest—investors in the world.

Dallas ranks seventh out of all U.S. markets with about $8.9 billion invested in 318 properties. That’s just under a hefty $30 million per property. The heaviest concentration is in the apartment market with almost 30 percent of the total. Office is the second favorite, with 63 properties valued at just over $2.5 billion. Houston barely edges out Dallas at $9.35 billion, but if we lump Fort Worth into our metropolitan total—which is a fair observation—DFW combined is an impressive $10.62 billion—good enough to move us up to sixth place in the U.S.

Last year in the Dallas market alone, 20 properties were added, and the invested dollars total jumped $1.37 billion for an overall increase of 18 percent.

This spending trend should continue, as real estate investment usually follows jobs and economic growth. Dallas is the clear front runner in these criteria, at least in the near term. Big D is now on most institutional investors’ short list of places to be—and be seen. Look for more major investments and big properties changing hands here as the economy continues to gain traction in recovery.

Chuck Dannis is co-founder of Crosson Dannis Inc. Contact him at cdannis@crossondannis.com.