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Dallas-Fort Worth-Arlington

ACU leases 25,000 SF for Addison campus 

(7/27/2015)

ADDISON - Abilene Christian University (ACU) has rented office space in Addison for a new campus.

The Christian education organization has rented 25,000 sf in the One Hanover Park office building at 16633 North Dallas Pkwy.

Founded in 1906 in Abilene, ACU has an enrollment of close to 5,000 students.

Built in 1998, the eight-story One Hanover Park is 96 percent occupied.

Read more at the Dallas Morning News.

168-Unit Sierra Hermosa in Fort Worth sold 

(7/27/2015)

FORT WORTH - Sierra Hermosa Apartments, a 168-unit apartment property located at 3254 Las Vegas Trail, has been sold.

Sierra Hermosa Apartments offers one- and two-bedroom units ranging from 735 to 1200 sf. Rents range from $470 to $570 at the community.

Sierra Hermosa Apartments — built in 1970 — is located near West Camp Bowie Blvd. with access to Hwy. 820 and I-30.

Read more from Texas Real Estate Business.

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CBRE: DFW industrial 2Q 2015 marketview 

(7/24/2015)

DALLAS-FORT WORTH - Second quarter 2015 marks the 19th consecutive quarter of positive net absorption for the DFW industrial market as it posted 4.2 million sf in total market absorption, according to CBRE’s Industrial Marketview 2Q 2015.

Deliveries totaled 3.8 million sf in 2Q 2015, less than half the amount of completions from last quarter, when DFW posted the highest amount of quarterly new inventory in CBRE’s tracked history.

Because of the fewer deliveries and steady amount of starts, the under construction pipeline remained relatively flat over the quarter, totaling just over 14 million sf of projects underway.

DFW Industrial Market Statistics 2Q 2015
Market Rentable
Area
(SF)
Available
(SF)
Vacancy
Rate
2Q 2015
Net
Absorption
(SF)
Avg. Asking
Rate ($/SF/Yr)
Industrial
Avg. Asking
Rate ($/SF/Yr)
Flex
Dallas total 480,354,152 53,031,227 7.8% 3,251,394 4.26 8.36
Fort Worth total 242,717,537 22,930,822 6.5% 932,735 3.93 6.68
Totals* 723,071,689 75,962,049 7.4% 4,184,129 4.11 8.25


*Totals are based on all submarkets in Dallas and Fort Worth.

Source: CBRE

For the full report, click DFW Industrial MarketView 2Q 2015 (PDF).

Also see DFW Market Research and DFW NewsTalk.

Farmer Bros. spills the beans in 500,000-SF HQ in Northlake 

(7/23/2015 3:00:00 PM)

NORTHLAKE, DENTON COUNTY - It has been several months since Torrance, California-based Farmer Bros. Co. revealed plans to leave its California roots to plant its corporate office in North Texas.

The 103-year-old manufacturer, wholesaler and distributor of coffee, tea and other food items plans to break ground on its new 500,000-sf office and distribution center in Northlake on August 11.

The company's new headquarters will be a $40 million headquarters campus near Texas Motor Speedway on I-35W.

The company plans to employ more than 300 workers at the new Northlake facility, which will be LEED certified with roasting equipment and a 1,000-sf teaching lab.

Read more at the Dallas Business Journal.

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Illinois buyer digs The Highlands of Flower Mound with $45M 

(7/23/2015 11:00:00 AM)

FLOWER MOUND - The Highlands of Flower Mound shopping center on Long Prairie Rd. has sold for $45.75 million.

The 169,447-sf retail center — bought by InvenTrust Properties Corp. — is 96 percent occupied by tenants including Bed Bath and Beyond, Cost Plus World Market, Stein Mart, Pier 1, Famous Footwear and Party City.

Read more at the Dallas Morning News.

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2,000-Acre Viridian community in Arlington sold 

(7/23/2015 10:00:00 AM)

ARLINGTON - The Viridian community, one of North Texas’ largest residential developments, has a new owner.

The Johnson Development Corp. and Tricon Capital Group Inc. have purchased the 2,083-acre Viridian community in Arlington.

The community — located just west of SH 360 along the Trinity River — was acquired from a company controlled by CrossHarbor Capital Partners of Boston.

Viridian was started in 2011 and is expected total $1.5 billion in value at completion.

About 1,000 home lots in Viridian have been contracted for sale to ten home builders. About 700 lot sales have already closed.

Development plans for Viridian include the addition of a 10,000-sf event center, swimming pool, event lawn, two tennis courts and a basketball court in the second phase.

Viridian has 500 acres of parks, recreational areas, trails and open spaces with another 600 acres of lakes and water features. The community also has about 20 miles of paved trails.

New homes at Viridian start at more than $200,000.

Read more at the Dallas Morning News.

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Green Brick lays $900M Rosewood community plans to Plano 

(7/23/2015 9:55:00 AM)

PLANO - A Plano mixed-use development is getting a new home community as Green Brick Partners Inc. bought land in the Heritage Creekside for 135 homes.

The $900 million mixed-use development is being built by Rosewood Property Co. on Bush Turnpike just west of US Hwy. 75.

The 156-acre development is planned to include offices, retail, restaurants apartments and homes.

Rosewood Property and Carbon Thompson are already building 327 apartments in the first phase of Heritage Creekside. Three restaurant and retail sites along Plano Parkway area also opening in the first phase next year.

The entire development is planned for 2.3 million sf of office space, 50,000 sf of retail and restaurants, a 15-story hotel, more apartments and single-family homes.

Read more at the Dallas Morning News.

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Dallas’ Infomart unveils $40M upgrade plans 

(7/23/2015)

DALLAS - The owners of Dallas’ Infomart are making $40 million in upgrades to the building — the first of many improvements to make the landmark property more attractive to data center tenants.

About 60 percent of the filigree-clad building northwest of downtown is already used for data center space. Out front construction has already started on additional power generator facilities to serve the data center tenants in the building.

Infomart has just built its own 24,000-sf wholesale data center facility that will contract with clients.

About 90 percent of the 1.6 million-sf building at 1950 N. Stemmons Fwy. is rented, Infomart Data Centers president John Sheputis said.

The owners are working on plans for a 330,000-sf expansion building that would be located on the north side of the Infomart.

Read more at the Dallas Morning News.

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Dallas: Class A Energy Square office complex sold  

(7/23/2015)

DALLAS - GlenStar Properties teamed up with USAA Real Estate to buy the three-building Class A Energy Square development on North Central Expressway at University Dr.

The office buildings — which are located next to a commuter rail station — contain about 960,000 sf and have been for sale since last year.

The previous owners starting in 2012 spent more than $9 million upgrading the properties — the oldest of which dates back to the 1970s.

Tenants in the buildings include New York Life, Davaco and Stonegate Mortgage.

The new owners say they plan additional upgrades to the property that will further integrate the office space with retail and potentially and apartment building.

Read more at the Dallas Morning News.

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Downtown Fort Worth commercial stats 2Q 2015 

(7/23/2015)

FORT WORTH - Office and retail occupancy rates for Downtown Fort Worth for second quarter 2015 are available.

Data presented in the office and retail occupancy rates are provided by the Costar Group.

Downtown Fort Worth Office / Retail Occupancy Rates
 Type 2Q 2015 2Q 2014 2Q 2013
Office 89.6% 87.0% 87.1%
Retail 94.8% 93.7% 92.4%

 



Office Rental Rates
Downtown Fort Worth*
Type 2Q 2015 2Q 2014 2Q 2013
Class A $28.48 $28.89 $28.35
Class B $19.78 $20.69 $20.62
Class C $16.92 $16.77 $18.10


*Full service rent ($/SF/YR)

See the full Downtown Fort Worth Inc. commercial market report.

For more stats on office, retail and more, see Dallas-Fort Worth-Arlington Market Research.

NTREIS: Tarrant County housing stats 2Q 2015 

(7/23/2015)

TARRANT COUNTY - North Texas Real Estate Information Systems (NTREIS) has released its Market Watch Report for second quarter 2015.

Tarrant County Marketwatch Report

Key Metrics
2Q 2015 1-Yr.
Chg.
Median sales price $184,500 11.8%
Average sales price $237,456 8.9%
Orig. price rec'd. 98.3% 1.2%
Homes for sale 4,641 -18.2%
Closed sales 7,245 -1.1%
Months supply 2.2 -22.1%
Days on market 58 32.5%

Tarrant County Market Activity
  2Q 2015 2Q 2014 2Q 2013
Homes for sale 4,641 5,672 6,359
Closed sales 7,245 7,326 7,099


Source: North Texas Real Estate Information Systems

See NTREIS Marketwatch Report 2Q 2015 (PDF) for more information. To find data quickly, see page 96.

CyrusOne adds 60,000 SF to Carrollton data center 

(7/22/2015)

CARROLLTON - Global data center provider CyrusOne unveiled plans to expand its Carrollton data center with a new data hall, which will total nearly 60,000 sf of additional space and 4.5 megawatts of power.

The company's Carrollton data center is one of the largest of its kind in Texas with a 670,000-sf colocation campus, which brings in a variety of tenants with data center needs.

The campus is expected to showcase the region's data center capabilities as more third-party data centers eye North Texas for additional data center locations.

Read more at the Dallas Business Journal.

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Dallas' old industrial district along Trinity to apartments 

(7/21/2015)

DALLAS - Trammell Crow Residential’s latest apartment development near downtown Dallas is the first luxury rental community in the area between Riverfront Blvd. and the Trinity.

With development spreading through the Dallas Design District and in West Dallas, the old Trinity industrial district along Riverfront Blvd. is ripe for a reboot.

Crow Residential’s six-story building will open in about 18 months in the 100 block of Turtle Creek Blvd. with more than 300 apartments.

The building will tower over the Trinity River levee, with a parking garage on the lower floors.

“Our development site is already within walking distance of restaurants and bars,” Crow Residential’s Steve Bancroft said.

The old commercial and industrial quarter northwest of downtown Dallas, along what used to be Industrial Blvd., was built mostly in the 1940s and 1950s.

Read more at the Dallas Morning News.

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Fire put out: Fireman’s leaves 125,000-SF office in Dallas 

(7/21/2015)

DALLAS - A large Dallas office tenant is shutting down the operation, which will result in a big chunk of empty space in a downtown skyscraper.

Fireman’s Fund Insurance Co. leases almost 125,000 sf of office space in Ross Tower on Akard St.

The 152-year-old California-based insurance firm moved into Ross Tower almost a decade ago and at one time had about 400 people working in the downtown high-rise.

With recent restructuring of Fireman’s Fund by its owner, Allianz, the Ross Tower office is being eliminated.

The company is expected to maintain some presence in the Dallas market, just not with the Ross Tower office. Fireman’s Fund is one of the largest remaining insurance company offices downtown.

The 45-story Ross Tower has been for sale since earlier this year. The 1.1 million-sf skyscraper — built in the 1980s — was about 60 percent leased before Fireman’s Fund decided to close its office.

Read more at the Dallas Morning News.

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Granite's $50M bet on Dallas' 237,000-SF West End 

(7/21/2015)

DALLAS - Developer Granite Properties has completed its purchase of the historic West End Marketplace in downtown Dallas and is renaming the building Factory Six03.  

Granite plans to spend upwards of $50 million on the acquisition and the redevelopment of the building. The new owner plans to renovate the 112-year-old former bakery and warehouse complex into office space with restaurants on the first floor.

The seven-story, 237,000-sf building at Market and Munger streets has been empty for almost a decade. Granite plans to repurpose the buildings as unique office space for creative and high-tech firms.

Construction will start this summer to redevelop the complex, which previously housed retail space, a movie theater, restaurants and nightclubs.

Granite plans to build an eighth floor addition to the building that will house a rooftop entertainment space and amenity deck.

Inside there will be a community lobby, coffee bar and about 10,000 sf of restaurant space.

The basement will be converted to parking. Granite also has parking available in a garage located a block away on Lamar St.

The building will reopen in September of next year.

Read more at the Dallas Morning News.

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360-Unit Derby Park races to 'sold' in Grand Prairie 

(7/21/2015)

GRAND PRAIRIE - Derby Park — a 360-unit multifamily community located at 606 West Palace Pkwy. at the northwest corner of Beltline Rd. and I-30 — has been sold.

The buyer is planning interior unit upgrades for the 95 percent occupied property.

Community amenities include two swimming pools, cyber cafe, business center, fitness center and playground. Intergerman Derby Limited Partnership purchased the asset from a private equity firm for an undisclosed price.

Dirk Goris, Chris Deuillet and Daniel Baker, with CBRE in Dallas, represented the seller.

Source: CBRE

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224-Unit Carol Oaks acquired in Fort Worth 

(7/21/2015)

FORT WORTH - Miami-based Lloyd Jones Capital — a multifamily investment firm — has acquired Carol Oaks Apartments in east Fort Worth.

The firm plans to upgrade and rebrand the 224-unit community, located at 7412 Ederville Rd.

“We are excited to rebrand Carol Oaks to our new Vibe model — a new concept for work force housing,” said Chris Finlay, chairman/CEO of Lloyd Jones. “Our Vibe communities will be fun and hip with the latest in technology for our residents’ use. The Vibe will offer a new experience in apartment living.”

Read more at Globe St.

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Dallas: 258-room Le Méridien hotel sells  

(7/21/2015)

DALLAS - A luxury hotel in Far North Dallas has changed hands.

The 258-room Le Méridien Dallas by the Galleria has been purchased by NB Holdings.

Built in 2002, the 11-story luxury hotel is on Noel Rd. just north of LBJ Fwy. It is located across the street from the Dallas Galleria shopping mall and office towers.

Read more at the Dallas Morning News.

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Plano's Flextronics to lay off 168 employees 

(7/21/2015)

PLANO - Flextronics — the electronics manufacturing and assembly company — is laying off local workers for the second time in two years.

The company plans to cut 168 employees at its Plano plant in phases between October and the end of the year as it consolidates two Texas sites.

“We regret the need to take this action as it is always difficult to initiate a mass layoff,” Flextronics human resources manager Maureen Armstrong said. “This decision was not taken lightly and is the direct result of a change in Flextronics’ strategy to consolidate our Plano Global Operations Group into our Austin Global Operations Group.”

Flextronics said it is trying to place some affected workers at other company sites and even plans to contact nearby employers about job openings.

Read more at the Dallas Morning News.

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NTREIS: Palo Pinto County housing stats 2Q 2015 

(7/21/2015)

MINERAL WELLS, PALO PINTO COUNTY - North Texas Real Estate Information Systems (NTREIS) has released its Market Watch Report for second quarter 2015.

Palo Pinto County Marketwatch Report
Key Metrics 2Q 2015 1-Yr.
Chg.
Median sales price $133,500 11.3%
Average sales price $262,895 -12.2%
% Orig. price rec'd. 86.6% -1.0%
Homes for sale 473 11.6%
Closed sales 93 24.0%
Months supply 21.8 10.3%
Days on market 185 50.9%


Source: North Texas Real Estate Information Systems

See NTREIS Marketwatch Report 2Q 2015 (PDF) for more information. To find data quickly, see page 78.

McKinney keeping in shape with $34.5M aquatic fitness center 

(7/20/2015 7:55:00 AM)

McKINNEY - The City of McKinney is getting ready to start a massive $34.5 million aquatic and fitness center that will make the city more marketable to incoming residents to the region.

The three-story, 80,000-sf facility will include a gymnasium, fitness areas, sports courts with an elevated track, child care area, classrooms an indoor 25-meter competition pool, indoor leisure pool and outdoor leisure pool. In all, the surface water of the pools will total 10,000 sf.

The project is slated to begin at Gabe Nesbitt Community Park at 3003 Alma Rd. on July 27, 2015.  Officials expect construction to be complete by the end of December 2016.

The development is being paid for with funds pooled together by McKinney Community Development Corp. (MCDC) and the City of McKinney.

Read more at the Dallas Business Journal.

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Heartis senior community going up in Arlington 

(7/20/2015)

ARLINGTON - Heartis Arlington, a 67,000-sf, one-story, 81-unit assisted-living and memory care community is currently being developed.

The new senior community — from Caddis, a health care and real estate firm — is scheduled to open in spring 2016.

Heartis Arlington will feature amenities including a courtyard, outdoor walking paths, game and activity rooms and a beauty/barber shop.

Services range from assistance with personal activities to housekeeping and laundry to daily nursing care and 24-hour emergency response.

In addition to Arlington, the company has communities open or under construction in the Texas cities of Conroe, Cleburne, Fort Worth, Amarillo, Cypress, Clear Lake, San Antonio, Longview and Waco. Caddis will own Heartis Arlington upon completion.

Read more from Texas Real Estate Business.

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GM investing $1.4B in Arlington SUV plant 

(7/17/2015 9:00:00 AM)

ARLINGTON - A $1.4 billion overhaul will expand General Motors Corp.'s Arlington plant to nearly 4.5 times its size when it opened 61 years ago.

The project will add 1.2 million sf to the factory’s 4.375 million sf across 250 acres.

The facility will also be outfitted with new equipment, machinery and tools, as well as training for the 4,100 employees who create 280,270 Chevrolet Tahoe and Suburban, GMC Yukon and Cadillac Escalade SUVs each year.

Construction will begin this summer and span three years, said Cathy Clegg, vice president of GM North America Manufacturing and Labor Relations.

Development of the project will encompass 600 jobs, $1 billion in equipment and $300 million in construction costs.

With its latest upgrade, GM has invested nearly $2 billion in manufacturing improvements at the Arlington plant, the largest automotive manufacturing plant in Texas.

Read more at the Dallas Business Journal.

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Wildlife Commerce Park project begins near Lone Star Park 

(7/17/2015 8:45:00 AM)

GRAND PRAIRIE - The largest construction project in the city is the Crow Holdings development across Belt Line Rd. from Lone Star Park, said Bill Crolley, planning and development director for Grand Prairie.

Wildlife Commerce Park is a 160-plus-acre, mixed-use development at the southwest corner of Wildlife Parkway and Belt Line Rd.

The first phase, already under construction, will consist of three warehouse distribution buildings that are 315,000, 350,000 and 240,000 sf. Additional buildings of 850,000 and 230,000 sf could be built in phase one as well.

Two other projects that are close to starting construction are a new Walmart near the southeast corner of SH 161 and Pioneer Parkway and a 300-plus-unit apartment complex just south of the L.A. Fitness on I-20, said Crolley.

Source: Dallas Morning News

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73,000-SF All Star Self-Storage sells in Fort Worth 

(7/17/2015)

FORT WORTH - All Star Self-Storage at 7400 N. Blue Mound Rd. has been sold. Located on two parcels totaling 4.95 acres, the facility consists of eight single-story buildings comprising 72,775 sf of storage space and a two-story management office and residence.

It is near a U.S. Postal Service Center and 217 residential lots under development on an adjacent property.

Source: Inside Self-Storage

Top 10 North Texas area sales by price per SF June 2015 

(7/16/2015 8:15:00 AM)

DALLAS-FORT WORTH - North Texas Real Estate Information Systems home sales are available year-to-date through June 2015.

Below is a chart of the NTREIS MLS Area Housing Activity Report of single-family homes ranked by highest price per sf.

YTD June 2015 Single-Family Sales Closed by Price per SF
Area* $/SF Chg.
June
2014
Sales Sold to
List Price
Chg.
June
2014
Days on
Market
Chg.
June
2014
25-University Park/
Highland Park
$360 2% 362 97% 1% 52 -4%
11-Dallas North $264 1% 366 97% 1% 55 -26%
17-Dallas Oak Lawn $255 -2% 46 97% 8% 43 -36%
12-Dallas East $180 10% 1,258 98% 1% 33 -13%
125-Southlake $175 8% 304 98% 0% 60 25%
132-Trophy Club/
Westlake
$161 13% 143 98% 1% 41 -21%
16-Dallas Northwest $150 10% 369 99% 1% 37 -12%
108-Fort Worth
Central West
$150 7% 438 96% 0% 58 -11%
23-Colleyville $148 1% 228 98% 1% 52 -13%
18-Dallas Northeast $146 9% 387 98% 0% 35 0%


*Ranked by price per square feet.

For the full report see NTREIS Housing June 2015 YTD (PDF) which can also be found under Dallas-Fort Worth Market Research.

Lancaster Ridge Logistics Center 2.5M SF heads to 164 acres 

(7/16/2015 7:58:00 AM)

LANCASTER - Van Trust Real Estate struck a deal with Ridge Development, the industrial development arm of Transwestern Development Co., and Prudential Financial to acquire 164 acres at the Ridge Logistics Center in South Dallas.

The site — located at the northeast corner of Dallas Ave. and Telephone Rd. — is approved for the construction of approximately 2.5 million sf of industrial space.

Van Trust Real Estate intends to begin construction shortly on two big-box speculative bulk industrial facilities to total more than 1 million sf.

Read more at CoStar Group and Globe St.

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PMRG: DFW office market 2Q 2015 

(7/16/2015 7:50:00 AM)

DALLAS-FORT WORTH - The DFW metropolitan area has added an astonishing 110,500 jobs in the 12 months ending May 2015, which represents an annual increase of 3.4 percent in employment.

As a result of the job growth, the area’s unemployment rate has dropped 120 basis points to 3.8 percent over the prior 12 months, its lowest point since 2001 and well below the national average of 5.5 percent.

The DFW office market recorded 1,660,522 sf of direct net absorption during second quarter, increasing its year-to-date absorption count to nearly 3.2 million sf — which remains on pace to achieve its best year since 1999.

The office construction pipeline has increased 26 percent within the past year to more than 6.8 million sf — excluding corporate-owned projects — continuing its surge experienced since late 2013.

Largest Submarkets Ranked by Total SF
Submarket Inventory
SF (Total)
Direct SF
Available
Occ. Under
Const.
Class A
Asking Rent
(per SF)
Class B
Asking Rent
(per SF)
Las Colinas 28,577,157 6,286,730 83.1% 466,219 $25.99 $19.96
Dallas CBD 25,593,267 7,434,246 78.7% 450,000 $23.20 $19.13
Quorum / Bent Tree 19,027,091 3,471,217 84.8% 197,740 $26.42 $18.16
East LBJ        15,799,075 4,537,201 74.2% 0 $23.04 $17.26
Upper Tollway/West Plano 15,482,389 2,545,916 87.1% 1,584,399 $29.28 $25.14
Richardson 14,192,088 2,031,121 89.5% 990,000 $22.01 $17.74
Central Expy. 11,687,810 2,389,716 81.7% 0 $26.16 $19.52
Total* 220,613,348 45,794,242 83.3% 6,812,031 $25.56 $18.97


*Includes all DFW submarkets.

For the full report see PMRG Office Market 2Q 2015 (PDF).

For more DFW office market reports, see Dallas-Fort Worth Market Research.

Irving industrial project in Parc 114 launches 191,000 SF 

(7/16/2015)

IRVING - Construction has begun on two new buildings totaling 191,262 sf at the Parc 114 Business Park.

The office and industrial buildings — located at 6501 North Belt Line Rd., south of SH 114 — are the second phase of Parc 114, owned by Houston-based developer Hines.

Parc 114 is a 52-acre development with six industrial buildings totaling 404,777 sf. Tenants in the project include Chrysler Group LLC, Nautilus Hyosung America, Nissan and Walgreens.

The two new buildings will be finished early next year.

Read more at the Dallas Morning News.

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Quiet deal for Dallas 10000 Central Expressway tower 

(7/16/2015)

DALLAS - The 15-story 10000 North Central Expressway tower located just north of Walnut Hill Lane near Presbyterian Hospital has changed hands.

Dallas-based investor Westdale Properties quietly bought the tower from a foreign investor. Built in 1986, the granite and glass tower contains more than 280,000 sf of office space.

Tenants in the building include Veritex Community Bank, Probity Advisors, Panattoni Construction and Milliman Inc.

Read more at the Dallas Morning News.

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Dallas-Fort Worth to add 3.8M SF of retail space 

(7/15/2015 9:30:00 AM)

DALLAS-FORT WORTH - This year more than 3.8 million sf of new retail space is in the pipeline for North Texas, almost double the construction volume last year.

It is the best retail building total for the DFW area since 2008, according to the latest survey fromThe Weitzman Group.

The number of empty storefronts in the Dallas-Fort Worth area has dropped to the lowest level in 15 years.

By mid-year, Dallas-Fort Worth's retail space had an occupancy rate of 91 percent, which brings the North Texas closer to the region's highest occupancy rate in history for retail space of 92 percent, which was recorded in 2000.

The new construction in Dallas-Fort Worth is significantly leased with the majority of retailers being anchor tenants (such as grocery stores or retail giants like Nebraska Furniture Mart) or junior anchor tenants.

As in the past five years, grocery stores — Kroger, Sprouts, Whole Foods, Fresh Market, WinCo Foods and Walmart — are still the driving force behind a significant amount of the new construction of retail space.

The biggest new retail projects in North Texas include the Nebraska Furniture Mart building in the Colony and the West Plano Village shopping center on the Dallas North Tollway in West Plano.

Read more at the Dallas Business Journal and the Dallas Morning News.

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Logistics Centers II, III, IV to break ground at DFW Airport 

(7/15/2015 6:55:00 AM)

DALLAS-FORT WORTH - Construction will begin on four new distribution centers at the DFW International Airport this October.

Logistics Centers II, III, IV, and V are expected to break ground this fall, bringing the Logistics Center project to a total of just under 2.5 million sf at full build-out.

The first of the five total distribution centers from Hillwood Investments and Perot Development Co., Logistics Center I, was completed at the end of 2014.

Logistics Center II will measure approximately 1,015,560 sf directly adjacent to Logistics Center I.

The additional three buildings will be between 115,500 up to 144,000 sf in size, and will be located on Esters Blvd. and Royal Lane in very close proximity to each other.

Currently, Dallas/Fort Worth has the most industrial construction underway in all of Texas, totaling more than 18 million sf in projects.

Read more at CoStar Group.

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175-Room Cambria Hotel underway in Southlake 

(7/15/2015)

SOUTHLAKE - Cambria Southlake is underway in Kimball Park and will be Southlake’s second hotel. Construction is estimated to be complete 13 months from the groundbreaking in July 2015.

Kimball Park is a new development under construction at the northwest corner of SH 114 and Kimball Ave.

When construction is complete, the development will include the 175-room Cambria Southlake hotel and conference center, a 96,000-sf office building, three restaurants, coffee shop and retail uses on 15.5 acres.

Read more at Community Impact Newspaper.

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Irving: 142-Unit The Terrace on Finley sells 

(7/15/2015)

IRVING - The Terrace on Finley Apartments — a 142-unit apartment property located at 2504 Finley Rd. — has been sold in ten days.

The property has a unit mix with 62 percent two-bedroom units, eight floor plans and resurfaced parking lots.

The apartments are located within one mile of SH-183 and provide easy access to President George Bush 161 Toll Rd.

Source: Marcus & Millichap

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12-Story Ventana senior community planned in North Dallas 

(7/15/2015)

DALLAS - Buckner Senior Living plans to construct its two-building Ventana project at the southwest corner of North Central Expressway and Northwest Hwy.

The North Dallas seniors community planned near NorthPark Center mall has been redesigned with a new look and additional features.

The 189-unit high-rise development is scheduled to open in late 2018.

The two, 12-story towers will include apartment homes, a health center with assisted-living facilities and skilled nursing.

Ventana is planned with outdoor dining areas, a rooftop garden and 12th-story lounge for residents.

Read more at the Dallas Morning News.

Click Dallas-Fort Worth-Arlington NewsTalk and Dallas-Fort Worth-Arlington Market Research for easy data.

North Texas home sales June 2015 

(7/14/2015)

DALLAS-FORT WORTH - North Texas Real Estate Information Systems (NTREIS) home sales are available for June 2015. Here's a peek at data you can find.

  • The median price of existing single-family homes increased to $210,000, up 2.9 percent from May 2015.
  • Existing single-family home sales increased 8.8 percent from May 2015 for a June 2015 total of 8,873 sold units.
  • Condos increased in price to $178,450, up 8.2 percent from May 2015.
  • Existing condo sales decreased -0.7 percent in June 2015 over May 2015 for a total of 554 sold units.


    Dallas-Fort Worth Region Sales / Price Activity by Units Sold
    MLS Wide Units Sold
      June 2015
    Median Price
      June 2015
    Price Chg.
    June 2014
    Sale Chg.
      June
    2014
    NTREIS*
    (single-family)
    8,873 $210,000 10.60% 2.10%
    NTREIS (condo) 554 $178,450 11.90% -6.70%
    Region Cities**        
    Fort Worth 1,085 $176,300 7.50% 9.70%
    Dallas 824 $316,000 10.90% 0.10%
    Arlington 362 $165,000 10.00% -5.50%
    Plano 321 $299,900 9.10% -7.00%
    Frisco 283 $350,000 13.10% -20.50%
    Garland 200 $155,000 10.80% 1.50%
    Carrollton 160 $227,114 13.60% 10.30%


*North Texas Real Estate Information Systems
**Data include single-family only and represent select region cities that sold more than 160 units during June 2015.

See the full report from NTREIS.

Don’t forget! Click: Dallas-Fort Worth Market Research, Dallas-Fort Worth NewsTalk for more free data without ads.

Eight-story Twin Sixties sold in North Dallas 

(7/14/2015)

NORTH DALLAS - Triten Real Estate Partners has purchased the eight-story Twin Sixties office high-rise at 6060 North Central Expy., Dallas County deed records show.

Built in the 1970s, the 240,000-sf office building near Southern Methodist University was sold by a partnership headed by Dallas-based Prescott Realty Group.

Located just north of DART’s Mockingbird commuter rail station, the office building is in an area undergoing redevelopment.

The adjoining Holiday Inn hotel tower is being repositioned as a luxury Magnolia Hotel. Developers are building luxury apartments nearby.

Read more at the Dallas Morning News.

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JLL: Dallas office vacancy reaches 'record low' 

(7/14/2015)

DALLAS-FORT WORTH - Office space in DFW has reached a 15-year low as lease rates continue to climb, driven by the region's booming economy that brought in roughly 110,500 jobs in the past 12 months, according to the latest JLL data for second quarter 2015.

The Dallas-Fort Worth market's Class A office rents are rising 5.5 percent in the region.

Overall, Dallas area office space has hit an 18.7 percent vacancy rate — a low that has not been seen since 2000 — that drops another 2 points to 16.7 percent when you consider Class A property in the region alone.

The low vacancy rate, especially in desired submarkets such as Preston Center, Uptown and Far North Dallas along the Dallas North Tollway in Plano and Frisco, has caused a jump in office rents year-over-year, with a 5.5 percent increase in Class A rents and a 5 percent increase in Class A and B rents.

Class A and B Totals Dallas Office Statistics 2Q 2015
  Inventory Total Net
Absorp.
(SF)
Total
Vacancy
Average
Direct
Asking
Rent
($/SF)
Under
Construction
(SF)
CBD 26,304,414 208,683 22.5% $22.73 450,000
Suburbs 123,248,796 724,984 18.5% $22.76 7,210,917
Dallas Total 159,866,162 1,024,752 18.7% $23.45 8,508,652


Read more at the Dallas Business Journal.

For the full report click JLL Dallas Office Insight to Stats 2Q 2015 which can also be found under Dallas-Fort Worth Market Research.

The Ridge and Shadowood apartments in Fort Worth sold 

(7/14/2015)

FORT WORTH - The Ridge, a 208-unit apartment complex, and Shadowood Apartments, a 52-unit property, have been sold.

The Ridge is located at 8925 Randol Mill Rd., ten minutes east of downtown Fort Worth, north of I-30 and just minutes from AT&T (Cowboys) Stadium and DFW Airport.

The subject property was built in 1985 and consists of 14 buildings.

Shadowood Apartments is located at 6701 Calmont Ave. The property is conveniently situated directly off I-30, and is just five minutes west of downtown Fort Worth.

Source: Marcus & Millichap

$71M 'sold' sign on Dallas Galleria North Tower II 

(7/13/2015 2:45:00 PM)

DALLAS - The 13-story, 306,244-sf Galleria North Tower II in north Dallas has sold for $71.25 million.

The office tower near Alpha Rd. and the Dallas North Tollway was built in 1999. Major tenants in the building are Merit Energy and Time Warner.

RREEF who bought the far north Dallas tower also owns the adjoining tower.

Read more at the Dallas Morning News.

You can link (or just click) Dallas-Fort Worth Market Research and/or Dallas-Fort Worth NewsTalk to your own website or blog.

Starwood shooting stars with Aloft hotel expansion in DFW 

(7/13/2015 9:45:00 AM)

DALLAS-FORT WORTH - DFW is landing three new Aloft-branded hotels in Richardson, Dallas Love Field and Arlington's entertainment district as part of Starwood Hotels & Resorts Worldwide Inc growth strategy to double its Texas portfolio in the next three years.

By 2018, Starwood plans to more than double its current seven-hotel portfolio Texas by adding nine new hotels.

Along with three new hotels announced in North Texas, Starwood also plans to open two more Aloft hotels in Houston as well as Austin. Starwood also plans to debut Aloft hotels in other cities, including Shenandoah and College Station.

Here is a look at the three new Aloft-branded hotels being added to the North Texas market:

  • Aloft Dallas Love Field: The dual-branded hotel — along with Element Dallas Love Field — will include a 133-room Aloft and 91-room Element with shared facilities, including a meeting space, swimming pool and fitness center.

    The hotel is part of West Love, a 37-acre mixed-use development, which will include apartments and more than 24,000 sf of retail space a mile from Dallas Love Field.
     
  • Aloft Richardson: The nine-story, 148-room hotel will sit within the $1.5 billion, 186-acre CityLine development in Richardson. The hotel will include 3,000 sf of meeting space and will help CityLine corporate tenants put up their visitors. The hotel is slated for completion in 2016.
     
  • Aloft Arlington Entertainment District: The 136-room Aloft hotel will sit in a new mixed-use development known as The Village at Ballpark Way, which will include medical offices and retail space. The hotel is slated for completion in 2017.


Read more at the Dallas Business Journal.

You can link (or just click) Dallas-Fort Worth-Arlington Market Research and/or Dallas-Fort Worth-Arlington NewsTalk to your own website or blog.

Denton County, Wylie big push to $775M housing construction 

(7/13/2015 8:00:00 AM)

DENTON COUNTY AND WYLIE - Two DFW master-planned communities totaling $775 million at build-out — one in Denton County and another in Wylie — are under construction after two Dallas-based developers have formed a new joint venture, called Allegiant Realty Partners.

The master-planned communities — Bozman Farms and ArrowBrooke — will bring thousands of homes to the region and is part of a larger strategy of the newly formed partnership to quickly expand in the Lone Star state.

Since forming the new venture, the developers have bought more than 2,200 acres of land in North Texas and in the Austin area with plans to develop 5,500 home lots.

The Bozman Farms community — expected to be worth $250 million at build-out —  will get another 800 single-family home lots added to the property in Wylie near Lake Lavon. The community will total nearly 1,300 single-family homes on 600 acres, with about 200 of those single-family lots currently under construction.

The duo also plans to develop 1,750 single-family home lots in the 410-acre ArrowBrooke development in Denton County, which sits near US 380 and FM 1385.

At build-out, the project is expected to be worth $525 million. Allegiant already has more than 300 home sites under construction.

The ArrowBrooke and Bozman Farms community's builders include Beazer Homes, Horizon Homes (a subsidiary of Highland Homes) and History Maker Homes.

The Dallas-Fort Worth master-planned communities will market their homes to residents with prices ranging from $225,000 to $350,000. The communities will also feature amenities such as playground, walking trails and pools.

Read more at the Dallas Business Journal.

Click: DFW Market Research, DFW NewsTalk

Rolex ticks into new 130,000-SF building  

(7/13/2015)

DALLAS - After months of designing a new midrise office tower for longtime office tenant Rolex, Dallas-based Harwood International is getting ready to begin work on the seven-story, 130,000-sf build-to-suit office building in Uptown.

The new Rolex building will sit on the small tract of grassy land adjacent to Saint Ann Court at Harry Hines Blvd. and Moody St.

Rolex now has an office in its namesake building — the Rolex Building — at 2651 N. Harwood St. in the Harwood District.

The high-end watch manufacturer has been a tenant in the Rolex Building since the seven-story, 105,000-sf building was developed in 1984 as the initial phase of the district.

The firm's in-house general contracting entity plans to build the development, which includes an office building with several floors devoted to a parking garage for Rolex employees.

Construction is slated to begin on the site by the end of the summer, with completion expected at the end of 2016.

Read more at the Dallas Business Journal.

Click: Dallas-Fort Worth NewsTalk, Dallas-Fort Worth Market Research

Wade Park lands The Rustic, Steel City Pops at $1.6B project 

(7/9/2015 8:00:00 AM)

FRISCO - Thomas Land & Development — the development group behind Wade Park — has landed some sought-after retailers, entertainment venues and restaurants for the $1.6 billion, 175-acre mixed-use development.

Wade Park is within Frisco's much-touted $5 Billion Mile, which has $5.4 billion of planned developments and investment along a mile stretch of roadway along the Dallas North Tollway bound by Warren Parkway and Lebanon Rd.

Thomas has signed the following retailers:

  • The Rustic at Wade Park: This will be the Dallas-based concept's second down-home venue in North Texas after establishing one at the West Village with the help of Pat Green. The 15,000-sf venue and patio will feature Texas beers, outdoor entertainment and a kitchen specializing in comfort foods.
     
  • Steel City Pops: The new retail space at Wade Park will feature the concept's popular gourmet popsicles with certified organic and locally harvested ingredients (much like the company's location on Lower Greenville).
     
  • Thirteen Pies: A neighborhood restaurant with handmade Italian cuisine featuring gourmet wood-fired pizzas.
     
  • Bread Zepplin: A customizable salad restaurant with freshly baked artisan baguettes.
     
  • Torchy's Tacos: The taco joint will lease about 4,000 sf of space.
     
  • Arhaus: The furniture retailer features one-of-a-kind handcrafted home furnishings and will lease more than 15,000 sf of retail space.
     
  • MiniLuxe at Wade Park: The beauty salon will extend its offerings from its West Village location to a 2,000-sf shop at Wade Park.
     
  • Elle K, an Aveda Salon: The beauty products and services shop will occupy about 3,200 sf of space and will include full-service treatments.
     
  • The Lash Lounge: The semi-permanent eyelash extension shop will occupy about 1,760 sf of salon space with a makeup counter and accessories boutique.


Last August, Thomas Land & Development began construction on the site, with vertical construction planned to begin this summer.

The development firm has already signed Hotel ZaZa, Whole Foods Market, iPic Theaters and Pinstripes Inc. for its first phase of construction, which is slated for completion in spring 2017.

Read more at the Dallas Business Journal.

Click: Dallas-Fort Worth Market Research, Dallas-Fort Worth NewsTalk

Champions Park drawing interest in 80,000 SF in Arlington 

(7/9/2015)

ARLINGTON - A slew of restaurants and eateries are competing for a spot in North Arlington’s newest development Champions Park.

A variety of potential restaurants and eateries — Benihana, Mi Cocina, Torchy’s Tacos and Steel City Pops — were mentioned by developers as possible tenants vying for a location in Champions Park, an upcoming development slated for construction on the northeast corner of Collins St. and I-30.

Champions Park is slated to break ground later this year with businesses expected to open in 2017. The multiuse development will be right across Guitar Center, in the vicinity of AT&T Stadium, Globe Life Park and Six Flags Over Texas.

The development will stretch over 14 acres, with approximately 80,000 sf of space available for restaurant and retail.

Champions Park will be primarily comprised of restaurants, taking up about 60 to 70 percent of the space.

The restaurant and retail space will make up the first phase of development.

Four of the buildings will be traditional multitenant buildings, while another four buildings will be standalone restaurants.

Champions Park received approval from the Arlington City Council in January. Greenway Investments will be in charge of the project, which will cost about $30 million.

Read more at the Fort Worth Business Press.

Click: Dallas-Fort Worth-Arlington NewsTalk, Dallas-Fort Worth-Arlington Market Research

New record: North Texas home sales in June 

(7/9/2015)

DALLAS-FORT WORTH - North Texas home sales jumped by 12 percent in June, with a record number of properties changing hands.

Sales prices also hit a new high point in June, with a median price of $220,000, according to data from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems.

June’s home prices were 12 percent higher than a year earlier.

The surge in home sales last month came despite continued tight inventory.

Less than 20,000 preowned homes are listed for sale in the almost two dozen North Texas counties included in the latest data. Home listings in June were down 12 percent from a year ago.

With pending sales up 14 percent in June, July and August are likely to see continue strong home purchase activity in the Dallas-Fort Worth area.

So far, in 2015 North Texas home sales are 4 percent higher than in the first six months of last year. Median sales prices are running 12 percent year to date ahead of the same period in 2014.

Read more at the Dallas Morning News.

Don’t forget! Click: Dallas-Fort Worth Market Research, Dallas-Fort Worth NewsTalk

Wilmer? Is that $500M Mitsubishi industrial park goin' up? 

(7/8/2015 7:40:00 AM)

WILMER - Construction has started on a half-billion-dollar business park that is one of the largest projects yet in the booming I-45 corridor south of Dallas.

Texas-based Port Logistics Realty is teaming up with a unit of Mitsubishi to build the 530-acre development on the east side of I-45.

The developers bought the land in Wilmer two years ago for the project and have been working on plans for the business park, which will ultimately have 9 million sf of buildings.

The first two speculative warehouse buildings in the new Southport Logistics Park will contain 1.1 million sf and will be completed next year.

The developers are spending $22 million to put in roads, utilities and do site work for the project.

Only about 40 people will work at the new high-tech complex when it opens in 18 months.

The Southern Dallas County real estate market along I-35 and I-20 is the busiest industrial building district in North Texas. More than 5 million sf of industrial construction is underway in the area.

Read more at the Dallas Morning News.

See picture of Southport Logistics Park.

Click to see 1Q 2015 DFW Industrial CBRE Overview.

You can link (or just click) Dallas-Fort Worth-Arlington Market Research and/or Dallas-Fort Worth-Arlington NewsTalk to your own website or blog.

Dallas SOHCO adding 115,000-SF addition along Stemmons 

(7/8/2015 6:30:00 AM)

DALLAS - Japanese investors — who have owned SOHCO (previously known as Cornerstone Business Park) industrial project for almost ten years — are adding 115,000 sf to the project.

Miyama USA Texas and Pillar Commercial of Dallas are teaming up to build the 115,000-sf office, showroom and distribution building on Stemmons just south of Spur 482, near Love Field.

The building will be an addition to the project previously known as Cornerstone Business Park.

The two existing buildings in the business park at 9761 and 9755 Clifford Dr. contain 250,000 sf and are fully leased.

Read more at the Dallas Morning News and Real Estate Business Online.

You can link (or just click) Dallas-Fort Worth-Arlington Market Research and/or Dallas-Fort Worth-Arlington NewsTalk to your own website or blog. 

Dirt turns for 328,000-SF One Legacy West in Plano 

(7/8/2015)

PLANO - The string of groundbreakings in Plano’s Legacy business park continues as Gaedeke Group LLC is starting construction on its 14-story, 327,856-sf One Legacy West project.

It is the first of two high-rise office towers Gaedeke Group plans on the site, which is next door to FedEx Office’s new headquarters and across the street from the $350 million Toyota campus.

The One Legacy West building — located near the southeast corner of Legacy Dr. and SH 121 — and its six-level parking garage will open in late 2016.

The tower is part of the $2 billion Legacy West development, which includes apartments, shops, restaurants, a hotel, high-rise condos and office space.

Read more at the Dallas Morning News.

tag: Dallas-Fort Worth Market Research, Dallas-Fort Worth NewsTalk

104,000-SF Grapevine Public Safety Building underway 

(7/8/2015)

GRAPEVINE - Construction on the 104,000-sf Grapevine Public Safety Building is undeway.

The new facility will be located on Dallas Rd., east of Target, and will be home to the Grapevine Police Department, municipal court, Grapevine Fire Department administration, information technology department and logistics.

This multi-level facility includes three different buildings on one campus and is scheduled to open spring 2017.

Read more at Community Impact Newspaper.

Click: Dallas-Fort Worth Market Research, Dallas-Fort Worth NewsTalk

Arlington: two's company, three’s a JV rehab hospital 

(7/8/2015)

ARLINGTON - Kindred Healthcare, the Methodist Health System, and Texas Health Resources joint-venture rehabilitation hospital is open.

The $15.8 million, nearly 47,000-sf facility is located in the 900 block of West Arbrook Blvd. between Methodist Mansfield Medical Center and Texas Health Arlington Memorial.

The new hospital is slated bring 150 jobs to the region.

The 40-bed facility includes a dedicated stroke unit, gyms, rooms for bariatric patients, a special apartment that will retrain patients to perform daily tasks and private rooms with sleeper chairs for family members.

Read more at D Magazine

Click for more data and news Dallas-Fort Worth Market Research, Dallas-Fort Worth NewsTalk.

Status update: $1B Facebook data center to Fort Worth  

(7/7/2015 11:30:00 AM)

FORT WORTH - Construction kicks off July 8, 2015, in North Fort Worth on an almost $1 billion data center for social media giant Facebook.

The 110-acre data center project in the AllianceTexas development near Alliance Airport and I-35W.

The 750,000-sf data center will be one of the largest in North Texas. The project planned for North Fort Worth will start out with a 250,000-sf building and be tripled in size over time.

Facebook — which has currently has more than 1.4 billion online users — currently has datacenters in Oregon, North Carolina and Iowa.

Read more at the Dallas Morning News.

Be sure to link Dallas-Fort Worth-Arlington NewsTalk and Dallas-Fort Worth-Arlington Market Research (housing, industrial, multifamily, office, retail data) to your own website or blog.

DFW's largest 2Q total of housing starts since 2007 

(7/7/2015 10:00:00 AM)

DALLAS-FORT WORTH - After falling behind in the early months of 2015, North Texas home builders in second quarter started the most houses in five years.

Bad weather in first quarter caused home starts in North Texas to fall by more than 20 percent; however, DFW area home starts were up more than 25 percent from second quarter 2014 according to data from Dallas-based Residential Strategies Inc.

Local builders started 7,533 houses in the last three months — the largest one-quarter total since mid-2007.

At the end of June, there were 13,413 homes under construction in the DFW area, a 7.1-month supply of housing inventory.

Builders sold 6,026 DFW new homes in second quarter, 9 percent more than in the same quarter 2014.

Only 2,754 finished, vacant new homes were available in North Texas at the end of the quarter, about a 1.5-month supply.

Read more at the Dallas Morning News.

Be sure to link Dallas-Fort Worth-Arlington NewsTalk and Dallas-Fort Worth-Arlington Market Research to your own website or blog.

DFW, Houston, San Antonio: 1.5M-SF industrial portfolio sold 

(7/5/2015)

DALLAS-FORT WORTH - Sealy & Co. has announced the disposition of the Texas Industrial Portfolio, which consists of 19 institutional quality assets totaling 1.48 million sf located in Dallas, Houston and San Antonio.

The portfolio was part of Sealy’s joint venture holdings with global real estate investment management firm, AEW Capital Management.

The Texas Industrial Portfolio is currently 91 percent leased, and consists of primarily multi-tenant, net-leased industrial facilities.

Read more from BusinessWire.

Be sure to link Dallas-Fort Worth-Arlington NewsTalk and Dallas-Fort Worth-Arlington Market Research to your own website or blog.

TAR: Dallas condo and townhome sales first half 2015 

(7/3/2015 3:15:00 PM)

DALLAS-FORT WORTH - Condominium and townhome sales slowed in Texas’s major metro areas in first half 2015, according to the 2015 Texas Condominium Mid-Year Sales Report.

In Dallas, 2,454 condos were sold between January and May 2015, a 3 percent increase from the same period in 2014.

Median price increased to $171,020, a 7 percent gain from the year prior. New listings decreased 3 percent to 3,366 listings, whereas active listings dropped 20 percent to 1,101 listings, and pending sales rose 11 percent to 2,618 sales from January to May.

Finally, average days on the market dropped to 48 days, a 22 percent decrease from the year prior.

Dallas Condo & Townhome Overview 2015
  Sales Median Price
February 402 $169,950
March 527 $177,500
April 590  $178,000
May 621 $170,000


For the full report, see 2015 Texas Condo Mid-Year Sales Report.

tag: Dallas-Fort Worth Market Research, Dallas-Fort Worth NewsTalk

Microsoft 'speaks your language' as store debuts in Frisco 

(7/2/2015 7:10:00 AM)

FRISCO - Microsoft's tenth Texas store at Stonebriar Centre is open. The store has associates that can speak at least one of six different languages.

Microsoft donated about $1.5 million in technology grants to various local organizations, including the Boys and Girls Club of Collin County and the Dallas Arboretum.

The Frisco Public Library received $100,000 in grants to be used toward new software at the library.

Some products offered at the store include the Dell Inspiron 15 and the HP Stream 7. The store also includes a help desk that can perform free PC tune-ups and free virus removal.

Read more at Community Impact Newspaper.

Be sure to link Dallas-Fort Worth-Arlington NewsTalk and Dallas-Fort Worth-Arlington Market Research to your own website or blog.

Dallas: Lofts moving in to The Shops at Park Lane 

(7/2/2015)

DALLAS - The Shops at Park Lane is apparently a place where more people also want to live as construction of another 165 apartments has started on the Park Lane side of the mixed-use development.

In addition, a large building that has been vacant and was originally built to be a sports club is being turned into 75 lofts. That building sits on top of a seven-level parking garage and the lofts will be on levels 8-10.

J. Crew Factory store, the first in the City of Dallas, opens in late July at The Shops at Park and a new concept from fast-fashion retailer Forever 21 called F21 red will open in September. F21 red will be on two levels and take up 19,600 sf of space next to Old Navy.

Read more at the Dallas Morning News.

Be sure to link Dallas-Fort Worth-Arlington NewsTalk and Dallas-Fort Worth-Arlington Market Research to your own website or blog.

Carrollton: Diesel Displays 81,000-SF facility 

(7/2/2015)

CARROLLTON - Growing Addison-based signage and graphics firm Diesel Displays plans to expand its operations as it consolidates its three North Texas locations into a single corporate office in Carrollton.

The display manufacturer has signed a lease for 81,634 sf of office, industrial and showroom space at a newly completed building at 2941 Commodore Dr. in Carrollton.

The company's roughly 60,000-sf footprint included two offices, a warehouse and an elaborate showroom to show off the specialty retail signs and graphics to clients, which include FedEx Office, Southwest Airlines, Samsung and Frito Lay. The Dallas Business Journal is also a client.

The ten-year-old North Texas company has grown from a 10,000-sf office to its latest lease with about 70 employees.

Diesel Displays plans to move into its new headquarters, warehouse and showroom in August.

Read more at the Dallas Business Journal.

Be sure to link Dallas-Fort Worth-Arlington NewsTalk and Dallas-Fort Worth-Arlington Market Research to your own website or blog.

MPF 2Q 2015: Apartment construction doubles in DFW 

(7/1/2015 8:55:00 AM)

DALLAS-FORT WORTH - North Texas apartment construction more than doubled in second quarter from the first three months of 2015.

Net leasing totaled 7,881 apartments. In addition, 11,429 units were leased in the first half of the year — up 26 percent from the same period in 2014, according to just-released numbers from MPF Research.

Less than 5 percent of Dallas-Fort Worth apartments are vacant. Vacancy levels fell even though developers opened almost 5,000 new apartments in second quarter.

With the strong leasing and high occupancies, landlords bumped up rents by 5.5 percent from a year ago.

An average DFW apartment now goes for $952 a month and the newest apartments average almost $1,400 citywide, according to MPF Research. In popular rental districts in Dallas’ Uptown, downtown and other close-in markets, new apartments are fetching an average of $1,800 a month.

More than 35,500 apartments are currently under construction in North Texas, the highest building totals in three decades.

Read more at the Dallas Morning News.

tag: Dallas-Fort Worth Market Research, Dallas-Fort Worth NewsTalk

Fort Worth: 52,000-SF Safe and Secure locks up sale 

(7/1/2015)

FORT WORTH - Safe & Secure Self-Storage, a 52,015-sf self-storage facility at 8500 S. Hulen St., has been sold.

The property — built in 2004 — is comprised of 182 interior climate-controlled units, 242 drive-up storage units, five covered parking spaces and 21 uncovered parking spaces.

The facility rests on 3.3 acres and features an on-site manager’s residence, climate-controlled units, garage-style roll up doors, personalized keypad gated entry, video surveillance, perimeter fencing and lighting and wide concrete driveways.

Read more from Texas Real Estate Business.

Be sure to link Dallas-Fort Worth-Arlington NewsTalk and Dallas-Fort Worth-Arlington Market Research to your own website or blog.

Primrose Schools buys 120,000 SF of land in West Frisco 

(7/1/2015)

FRISCO - Primrose Schools has bought 119,868 sf of land at the northeast corner of Main St. and Teel Pkwy. in West Frisco and will help anchor Vaughn Miller's Teel Crossing I shopping center development.

Vaughn Miller — president and CEO of VCM Development Group — sold a parcel of his West Frisco retail development to situate the school near Frisco's "$5 Billion Mile."

The mile of frontage along Dallas North Tollway has picked up that nick-name based on the $5.4 billion of planned development projects along the roadway, which makes it unlike any other stretch of roadway in the Lone Star state.

Along with Primrose Schools, the West Frisco development will include a 20,020-sf retail center adjacent to the school and will bring much-needed retail to the growing Frisco community.

Read more at the Dallas Business Journal.

tag: Dallas-Fort Worth Market Research, Dallas-Fort Worth NewsTalk

What's the temp? DFW housing market July 2015 

(6/30/2015 8:00:00 AM)

DALLAS-FORT WORTH - Consider the numbers in the chart below a thermometer that reveals the intensity of the area’s homebuying fever.

The chart below shows North Texas home sales from January through May 2015.

DFW Housing Market
Area Neighborhood Houses
Sold
Median
Price
Price
per SF
Sold to
List Price
Days on
Market
Dallas Dallas E 735 $313,000 $173 98% 39
Fort Worth Fort Worth
(S I-20/Crowley)
629 $139,000 $71 98% 56
Midcities Irving 378 $207,450 $115 97% 52
Midcities Arlington
(Mansfield)
314 $215,000 $92 99% 36
North Denton County 1,377 $201,950 $100 98% 46
Northwest N Richland Hills/
Richland Hills
265 $165,000 $97 98% 35
Northwest Keller 252 $370,250 $125 98% 53
South Ellis County 624 $175,000 $88 98% 74


More of the market? See July 2015 DFW Housing Market.

For a sortable list, visit D Magazine.

Dallas-Fort Worth Market Research, Dallas-Fort Worth NewsTalk

Dallas home prices up! Standard & Poor's 

(6/30/2015 7:08:00 AM)

DALLAS - The Dallas increase was more than twice the nationwide gain in April, according to the just-released Standard & Poor’s/Case-Shiller Home Price Index.

Dallas had the third highest home price rise in the country, behind Denver, 10.3 percent and San Francisco.

Dallas area home prices are at a record high and about 15 percent ahead of where they were at the peak of the housing market before the recession, according to Case-Shiller.


Home Price Changes U.S.

Metropolitan Area
1-Year
Chg.
Apr. 2015
Level
Apr./Mar.
Chg.
Mar./Feb.
Chg.
Denver 10.3% 166.09 1.9% 1.4%
San Francisco 10.0% 210.28 2.0% 3.1%
Dallas 8.8% 148.79 1.1% 1.9%
Miami 8.5% 198.51 0.9% 1.0%
Tampa 7.6% 168.48 0.8% 1.4%
Seattle 7.5% 178.11 2.3% 2.3%
Portland 7.1% 176.89 1.7% 1.1%
Las Vegas 6.3% 140.13 1.0% 1.0%


*ranked by one-year change

Read more at the Dallas Morning News.

Be sure to link Dallas-Fort Worth-Arlington NewsTalk and Dallas-Fort Worth-Arlington Market Research to your own website or blog.

1.8M-SF RadioShack warehouses bring $40M in Fort Worth 

(6/30/2015 6:30:00 AM)

FORT WORTH - BH Properties has closed on its deal to acquire six RadioShack properties totaling 1.8 million sf of space, along with some land, for $39.3 million.

Five of those warehouses and the land are in Fort Worth, while the other warehouse is in Woodland, Calif., near Sacramento.

The Fort Worth locations include:

  • 132,000-sf factory/warehouse on 9.16 acres at 401 NE 38th St.
  • 136,500-sf factory/warehouse on five acres at 3131 W. Bolt St.
  • 639,000-sf distribution center on 24 acres at 900 Terminal Rd.
  • 600,000-sf warehouse on 24 acres at 1000 Terminal Rd.


Included in the sale is a seven-acre tract of land between the 38th St. and 900 Terminal Rd. properties.

Longtime Fort Worth-based electronics retailer RadioShack filed for bankruptcy in February and has been closing or selling stores since then.

Read more at the Fort Worth Business Press.

tag: Dallas-Fort Worth Market Research, Dallas-Fort Worth NewsTalk

Dallas: 77,000 SF in Frost Tower now occupied  

(6/30/2015)

DALLAS - The largest tenant at Dallas-based developer Harwood International's completed 22-story Frost Tower — Polsinelli — has hung up its signage on the building and is getting ready to move into its new Dallas home.

The growing law firm will set up shop for its now 38 attorneys within six floors spanning about 77,000 sf of space.

The Kansas City-based law firm also will occupy a penthouse suite on the 21st floor within Frost Tower, which includes a private 1,500-sf outdoor terrace with panoramic views of downtown, Uptown and Victory Park in Dallas.

The tower will have two penthouses: a 9,800-sf penthouse on floor 21 and a 6,100-sf penthouse on the top floor.

Frost Bank, the tower's namesake tenant, will lease about 57,000 sf of office space, with plans to move into the building in the next few months.

The building was reported to have less than 10,000 sf of space left to lease.

Read more at the Dallas Business Journal.

Be sure to link Dallas-Fort Worth-Arlington NewsTalk and Dallas-Fort Worth-Arlington Market Research to your own website or blog.

Flower Mound's 146-room Marriott River Walk underway 

(6/30/2015)

FLOWER MOUND - Texas-based developer New Era Hotels & Resorts has broken ground for the five-story, 146-room Courtyard by Marriott River Walk at Central Park in Flower Mound.

This will be the Town of Flower Mound's first hotel upon completion in second quarter 2016 and will be part of the town's River Walk mixed-use development.

The hotel will have 39 rooms with balconies with views of Flower Mound's River Walk. Other plans for the hotel include a 6,100-sf ballroom and meeting room, a European-style courtyard, amphitheater and an indoor pool and fitness center.

Read more at the Dallas Business Journal.

Be sure to link Dallas-Fort Worth-Arlington NewsTalk and Dallas-Fort Worth-Arlington Market Research to your own website or blog.

Leaping lizards! $5.5M nature retreat center to Plano 

(6/30/2015)

PLANO - Plano residents will soon have a nature center to call their own, as the $5.5 million Oak Point Nature and Retreat Center is scheduled to open in late August.

The 19,930-sf facility will include a visitor’s center, nature center, multiuse event rooms with approximately 11,130 sf of office space and approximately 8,800 sf of public space.

The center — located on the east side of Oak Point Park and Nature Preserve — will focus on the natural elements and ecosystems found within the park.

In the building’s lobby, visitors will see an interactive map highlighting the area’s geology, hydrology, plants and animals as well as the park’s history.

Residents and companies will be able to utilize the facility; leased space will also be available for corporate retreats, team-building activities and social functions.

The grounds will provide open areas for events and family activities, such as star gazing, birdwatching and campfires featuring storytellers.

A grand opening for the Oak Point Nature and Retreat Center is planned for late this summer.

Read more at Community Impact Newspaper.

tag: Dallas-Fort Worth Market Research, Dallas-Fort Worth NewsTalk

Crowdfunding comes to Texas with Cedar Hill senior housing 

(6/30/2015)

DALLAS-FORT WORTH - Texans can join in crowdfunding with rewards and a Dallas-based firm already has multiple projects raising funds now, including a senior housing project in Cedar Hill.

MassVenture CEO Nathan Roach says the firm just launched the first ever Texas equity crowdfunding project after getting the state's blessing in February.

The company offers everyday people the chance to invest in Texas projects ranging from commercial to residential real estate, to tech startups to brick-and-mortar businesses up to $1 million. Each investor can contribute up to $5,000.

The Dallas-area effort is a senior housing project in Cedar Hill that is expected to take a three- to five-year fundraising effort. It is projected to be a long-term hold, and investors would get a preferred return payment at the end of the project sales.

There are two Central Texas projects including a hacker house in Austin — a residential project where tech people can live and work — and a set of downtown lofts being crowdfunded as part of an urban revitalization effort in San Antonio.

Read more at Bisnow.

Be sure to link Dallas-Fort Worth-Arlington NewsTalk and Dallas-Fort Worth-Arlington Market Research to your own website or blog.

On screen: Southlake company purchases 11 cinema buildings 

(6/29/2015)

DALLAS-FORT WORTH - A Southlake-based real estate firm — United Development Co. — has purchased almost a dozen cinema buildings in eight states.

The $40 million transaction includes movie theaters in Grand Prairie, Dallas and Fort Worth.

The 109-screen cinema portfolio is located in Texas, New York, New Jersey, Mississippi, Louisiana, North Carolina, Oklahoma and Colorado.

One of the buildings, the UA Grand Prairie 10 cinema, will close next year and be redeveloped into a shopping center.

Read more at the Dallas Morning News.

tag: Dallas NewsTalk, Dallas Market Research

Westin Dallas Downtown in 1M-SF hotel for Christmas 

(6/26/2015 7:15:00 AM)

DALLAS - Construction on a Westin hotel in downtown Dallas is on track, with the facility scheduled to open in December 2015.

The Westin Dallas Downtown is located at One Main Place — a 1 million-sf historic building at 1201 Main St. that will include office and retail space.

When completed the Westin will contain 326 guest rooms, including a 3,000-sf penthouse.

Amenities planned for the hotel include an indoor pool on its 32nd floor, a 1,700-sf fitness center, more than 31,000 sf of meeting space and a glass-enclosed pavilion on the building’s ground floor.

Development of the rest of the building and surrounding plaza includes plans for a sundries store, dry cleaners and other retailers that might be utilized by travelers.

Read more at the Dallas Business Journal.

Be sure to link Dallas-Fort Worth-Arlington NewsTalk and Dallas-Fort Worth-Arlington Market Research to your own website or blog.

The Shops at Starwood twinkling to start in Frisco 

(6/26/2015)

FRISCO - Houston-based Whitestone REIT plans to begin its next phase of The Shops at Starwood in Frisco, which will add about 24,000 sf of restaurant and retail space and 8,600 sf of office space to the mixed-use development.

This brings new space to a development, which is already 100 percent leased with tenants such as Smashburger, TruFire Kitchen & Bar and Kotta Sushi Lounge.

The Shops at Starwood sits along the Dallas North Tollway in close proximity to the new Dallas Cowboys' headquarters and practice facility, which is beginning to take shape in Frisco.

Construction is slated for completion in first quarter 2016.

Read more at the Dallas Business Journal.

Be sure to link Dallas-Fort Worth-Arlington NewsTalk and Dallas-Fort Worth-Arlington Market Research to your own website or blog.

Whole Foods Market moving-in to Uptown Dallas 

(6/25/2015)

DALLAS - Whole Foods Market will open its Uptown Dallas store August 12 on the ground floor of an eight-story residential tower next to a trolley stop on McKinney Ave.

The 38,000-sf store has been in the works since 2012 and is Whole Foods’ first store in North Texas with customers living above it.

Whole Foods Market/Uptown will be the only local grocer in a vertically integrated mixed-use development.

Gables Residential has had a waiting list since September 2014 for the 222 apartments and 17 townhomes above Whole Foods. Rents range from $1,690 for a studio to $6,000 for a townhome or penthouse.

The first residents will move in in August and floors will be leased throughout the fall as the interiors are completed.

Read more at the Dallas Business Journal.

tag: Dallas NewsTalk, Dallas Market Research

Sold: 172-Unit Fox Creek Apartments in Carrolton 

(6/25/2015)

CARROLTON - Fox Creek Apartments, a 172-unit apartment property at 1910 South Josey Lane, has been sold.

Within the community there are four spacious floor plans ranging from 712 to 1,000 sf.

Constructed in 1969, Fox Creek features five two-story buildings under flat roofs. The rentable square footage is 142,456 and the total lot size is 6.20425 acres.

Source: Marcus & Millichap

Burlington hangs coats in Cedar Hill 

(6/25/2015)

CEDAR HILL - A Burlington clothing store is expected to open this fall in the Cedar Hill Shopping Center at 229 East FM 1382.

The 48,136-sf Burlington Coat Factory and Baby Depot combination shop will feature apparel, shoes and accessories for men, women and children as well as home decor, gifts and baby furniture and supplies.

To staff the store, Burlington plans to hire between 50 and 100 workers. It will be the company’s 59th location in Texas.

Read more at the Dallas Business Journal.

Be sure to link Dallas-Fort Worth-Arlington NewsTalk and Dallas-Fort Worth-Arlington Market Research to your own website or blog.

 

Denton Crossing expands and gains 

(6/25/2015)

DENTON - Total Wine & More has signed a new lease at Denton Crossing. In addition, Kroger is expanding its footprint at Denton Crossing by over 18,000 sf, bringing the center's leased rate to 99 percent.

Total Wine & More will occupy 24,000 sf and will be located between Best Buy and TJ Maxx and is expected to open in late fall 2015.

Kroger will be adding 18,300 sf to its current location, increasing its footprint at Denton Crossing to more than 80,000 sf. Kroger will also be remodeling the existing store as part of the expansion.

Denton Crossing is conveniently located off I-35, just east of Golden Triangle Mall. The center has a large mix of national retailers including Michaels, Ulta, TJ Maxx, Old Navy, Best Buy, Pier 1 Imports and Famous Footwear.

Read more at PRNewswire.

tag: Dallas-Fort Worth Market Research, Dallas-Fort Worth NewsTalk

North Texas counties ranked by home sales May 2015 

(6/24/2015 8:15:00 AM)

DALLAS-FORT WORTH - North Texas Real Estate Information Systems home sales are available from May 2015.

Below is a chart of the NTREIS MLS Area Housing Activity Report of sales closed by area for single-family homes.

Sales Closed by Area for May 2015 Single-Family
Area Sales Change
May 2014
Average Change
May 2014
Median Change
May 2014
Denton County SE 511 12% $324,482 14% $290,000 16%
Denton County 475 13% $239,784 14% $215,000 18%
Frisco/Denton
County East
405 10% $388,994 7% $349,000 9%
Plano 345  -11% $375,203 22% $318,500 19%
Dallas East 289 17% $406,343 20% $356,000 19%
McKinney ISD 286 10% $316,992 14% $290,000 16%
FW-Summerfield/
Park Glen
275 19% $216,012 15% $205,060 17%
Johnson County 264 12% $165,073 9% $141,500 0%
Ellis County 236 17% $203,639 11% $184,000 11%
FW (South of
I-20/Crowley)
215 4% $156,218 16% $146,500 17%


*Ranked by number of sales

Source: NTREIS

tag: Dallas-Fort Worth Market Research, Dallas-Fort Worth NewsTalk

Public safety training facility? Collin College fires up 

(6/24/2015 7:28:00 AM)

MCKINNEY - McKinney City Council approved a request from Collin College that will allow the college to build a new public safety training facility on 25 acres of city-owned land.

The facility — on the east side of US 75 near Bloomdale Rd. and Redbud Blvd. — will feature an indoor virtual firearms training center; two outdoor fire training structures, including a burn tower with at least four stories; and classrooms and other assorted amenities.

Construction on the facility is expected to cost roughly $13 million. More than $11 million will be funded by Collin College, and the City of McKinney has committed $2.2 million.

The McKinney Fire Department will also benefit from the new facility as it receives the first scheduling opportunity following Collin College. The facility is also open to other area agencies.

The city will be responsible for developing the roadway infrastructure to the site.

Read more at Community Impact Newspaper.

tag: Dallas-Fort Worth Market Research, Dallas-Fort Worth NewsTalk

61,000-SF Los Rios in Plano flows to sold 

(6/24/2015 7:00:00 AM)

PLANO - Los Rios Shopping Center, a 61,770-sf retail property, has been sold.

The center is 55 percent occupied with major tenants including Dance Depot, The Springs Church, Gregory Tubbs & Nicole Tubbs and Providence Church of Texas.

The building — located at 4101 East Park Blvd — was constructed in 1985 and sits on 6.29 acres.

Two additional pad sites located in front of the center are included with this offer; one is approximately 0.57 acres and one is 0.69 acres.

Source: Marcus & Millichap

Buc-ee’s beaver nuggets to Terrell  

(6/23/2015 8:50:00 AM)

TERRELL - Buc-ee's Travel Plaza has opened in Terrell southeast of downtown Dallas. This is the first to open in North Texas and with the grand opening beaver style it could spur future projects.

The 62,000-sf travel center is the first and largest retail store to open at Terrell Market Center, which sits on FM 148 and I-20.

Buc-ee's will open to beaver friendly customers with snacks, beef jerky, homemade fudge, beverages and their No. one branded product — caramel and butter-glazed corn puffs known as "Beaver Nuggets." The travel center also has 84 gas pumps.

Along with Buc-ee's, the multimillion-dollar development is expected to include a Baylor Scott & White medical facility — scheduled to be complete in late 2016 — restaurants, retailers, apartments and a hotel.

The initial $65 million, 60-acre phase of the project is expected to total 275,000 sf of retail space, with Starbucks, Dairy Queen and Whataburger already committed to the property.

Read more at the Dallas Business Journal.

tag: Dallas-Fort Worth Market Research, Dallas-Fort Worth NewsTalk

11-Story The Addison sold in JV 

(6/23/2015 7:45:00 AM)

ADDISON - Dallas-based real45 estate investment firm Frontier Equity in a joint venture with Maryland-based Artemis Real Estate Partners has acquired an 11-story, 260,000-sf Class A office tower, called The Addison.

The building — located along the Dallas North Tollway near Belt Line Rd. — has been primarily leased to only a few large corporate tenants and has about 60,000 sf of available office space.

The Class A building has an on-site deli, 24-hour security service and a full-service fitness facility with new equipment, as well as showers, lockers and towel service, for its tenants.

Read more at the Dallas Business Journal.

Be sure to link Dallas-Fort Worth-Arlington NewsTalk and Dallas-Fort Worth-Arlington Market Research to your own website or blog.

32,000-SF box opens in Tetra Pak Denton 

(6/23/2015 7:15:00 AM)

DENTON - Over the past year, Tetra Pak has added 32,000 sf and moved about 40 employees from the suburbs of Chicago to Denton and the move and renovations are now finalized.

The company — which has had a manufacturing plant here since the 1980s to create the boxed containers for dozens of products — has moved its U.S. and Canada headquarters to Denton.

The Denton arm, at 3300 Airport Rd., is just one of several hubs worldwide for the company.

The factory alone has 165 employees, 73,500 sf of space and an additional 75,000-sf warehouse. Of the 180 billion packs the company sold globally in 2014, Denton produced 5.6 billion.

Read more at the Denton Record-Chronicle.

Goal ready at 50,000-SF Frisco facility 

(6/23/2015 6:30:00 AM)

FRISCO - Performance Indoor Training+, a 56,000-sf indoor and outdoor soccer facility at 7255 Meadow Hill Dr., is now open.

The facility includes two indoor turf fields, two indoor futsal fields (a variant of soccer that is played with five-man teams), two outdoor soccer fields, two outdoor sand soccer pits and one outdoor futsal field.

The facility will also include a Soccer Robotic Training Center, which is a simulator that shoots soccer balls at an athlete to relay into an illuminated target.

The outdoor fields will not be ready for another few weeks because the ground is too wet to lay down the turf.

Read more at Community Impact Newspaper.

DTZ: Dallas office snapshot 1Q 2015; key transactions 

(6/22/2015 6:45:00 AM)

DALLAS - DTZ (formerly Cassidy Turley) has released the Dallas Office Market Snapshot for first quarter 2015.

Dallas’ office market absorbed 1,489,066 sf in first quarter of 2015, while inventory increased by 1,915,718 sf. Overall market vacancy remained steady at 18.8 percent.

Class A vacancy decreased to 17.8 percent from the previous year of 17.9 percent, absorption continues to be a Class A story reporting 94 percent (1,390,668 sf) of the total absorption at the end of first quarter.

Year-end Class B absorption totaled 38,683 sf with the vacancy rate 20.2 percent from 19.8 percent at the end of 2014. The most active Class B submarket was LBJ with 121,706 sf of positive absorption.

Key Sales Transactions 1Q 2015
Property SF Seller/Buyer Price PSF Submarket
Canal Centre 238,051 JLL / Litbitzky $140.00 Las Colinas
Citymark 218,096 Hines / Bradford
& American National
$179.00 Uptown
Custer Court 120,596 Equite Office / Origin $151.00 Richardson/ Plano
NBC Universal 75,000 KDC / Olympus $343.00 Las Colinas


See the full Office Market Snapshot 1Q 2015 report.

tag: Dallas Market Research, Dallas NewsTalk office

NAR Dallas housing market 1Q 2015 

(6/22/2015 6:00:00 AM)

DALLAS - First quarter 2015 housing data have been released for the Dallas market by the National Association of Realtors.

Included in the report are housing affordability, drivers of local demand, new housing construction and other pertinent data.

NAR Dallas Housing Market 1Q 2015
Price Activity Dallas U.S. Local Trend
Current Median Home Price (1Q 2015) $192,500 $203,867 Prices continue to grow
relative to last year.
1-year (4-quarter) Appreciation (1Q 2015) 10.1% 6.7%
3-year (12-quarter) Appreciation (1Q 2015) 29.9% 28.8%
3-year (12-quarter) Housing Equity Gain* $44,300 $45,533 Gains in the last 3 years have
extended the trend of positive
price growth after the recession.
7-year (28 quarters) Housing Equity Gain* $50,100 $5,333
9-year (36 quarters) Housing Equity Gain* $46,100 -$13,067


*Equity gain reflects price appreciation only.

Source: National Association of Realtors, courtesy of Prudential Ada Realtors

See Dallas' full report by NAR Regional Real Estate Market 1Q 2015 (PDF). Scroll down for previously quarterly reports.

Also see more Housing data under Dallas Market Research.

Be sure to link Dallas NewsTalk to your own website or blog.

Popcorn, plaza, parking plans to Glade Parks Euless 

(6/22/2015)

EULESS - With retailers preparing to open this summer at Glade Parks, developers are moving forward with plans for the next phase of the 194-acre project, which could include a movie theater and a town center.

Dick’s Sporting Goods will lead a string of retailers set to open in August at the shopping center being built on the west side of the bustling Texas 121 corridor, between Cheek-Sparger Rd. and Glade Rd..

Other stores and restaurants coming in August include Home Goods, Michaels Arts & Crafts, Ulta Salon & Cosmetics, Boot Barn, Cato, Five Below, Massage Envy and Kirklands.

A Belk department store — which will also anchor the development — will begin construction on the $10.8 million, 95,000-sf store in July and should be completed in March.

The Euless City Council approved creating a second public improvement district in Glade Parks to fund the creation and improvements to develop a park/public plaza as part of the town center portion of the development, with an off-street parking garage. The garage will be located near Dave & Busters and Belk, and the movie theater would be developed nearby.

The public plaza, Glade Parks LifeStyle Center, would be flanked with commercial buildings, including some restaurants with outdoor patios, and would have water features.

Read more at the Fort Worth Star-Telegram.

Be sure to link Dallas-Fort Worth-Arlington NewsTalk and Dallas-Fort Worth Market Research to your own website or blog.

Downtown Fort Worth commercial stats 1Q 2015 

(6/22/2015)

FORT WORTH - Office and retail occupancy rates for Downtown Fort Worth for first quarter 2015 are available.

Data presented in the office and retail occupancy rates are provided by the Costar Group.

Downtown Fort Worth Office / Retail Occupancy Rates
 Type 1Q 2015 1Q 2014 1Q 2013
Office 87.3% 85.8% 87.5%
Retail 93.5% 94.5% 94.4%

Office Rental Rates
Downtown Fort Worth*
Type 1Q 2015 1Q 2014 1Q 2013
Class A $28.22 $28.88 $28.33
Class B $20.20 $20.65 $20.99
Class C $17.86 $16.01 $16.92


*Full service rent ($/SF/YR)

See the full Downtown Fort Worth Inc. residential report.

For more stats on office, retail and more, see Dallas-Fort Worth-Arlington Market Research.

Dallas Symphony Foundation composes a sale 

(6/22/2015)

DALLAS - The Dallas Symphony Foundation has sold a piece of its downtown real estate holdings in the Dallas Arts District to Dallas-based development firm Lincoln Property Co., which plans to build a 23-story office tower on the high-profile tract at the southeast corner of Pearl St. and Woodall Rodgers Fwy.

The foundation sold the land for $7.2 million, after holding onto the land for 20 years after originally buying it in 1995 for $1.5 million.

Plans for the proposed 23-story, 250,000-sf office tower include a large restaurant, fitness center, conference center space and amenity deck overlooking Klyde Warren Park.

The foundation is retaining some review and approval privileges on the design and concept of the development and will benefit from having after hours use of 600 parking spaces being built as part of the project.

Read more at the Dallas Business Journal.

Be sure to link Dallas NewsTalk and Dallas Market Research to your own website or blog.

Downtown Cowtown scoots higher to residential stats 1Q 2015 

(6/19/2015 7:45:00 AM)

FORT WORTH - Apartment occupancy and rental rates as well as the residential sales price range for Downtown Fort Worth Inc. (DFWI) for first quarter 2015 are available.


Apartment Occupancy and Rental Rates
Downtown Fort Worth
Apartments 1Q 2015 1Q 2014 1Q 2013
Occupancy 96.9% 96.5% 94.4%
Average rent $1,705 $1,693 $1,679
Average rent/SF $1.65 $1.55 $1.57

 

Residential Sales Price Range Downtown Fort Worth
Price 1Q 2015 1Q 2014 1Q 2013
Low $131,000 $128,900  $128,500
Median $219,150 $220,000 $187,000
High  $2,850,000 $550,000 $760,000


Data presented in this report are derived from the North Texas Real Estate Information System’s MLS which covers 29 counties in North Texas. This report excludes non-MLS sales.

Apartment occupancy and rental rates are derived from DFWI quarterly surveys of all apartments in downtown Fort Worth.

Data presented in the report are deemed reliable but are not guaranteed and should be independently verified.

Fort Worth Residential Focus Report and Downtown Dashboard has maps of downtown and more stats than you can access.

See more reports at Downtown Fort Worth Inc.

tag: Dallas-Fort Worth Market Research

Newmark: DFW Office Market Report 1Q 2015 

(6/19/2015)

DALLAS-FORT WORTH - The DFW office market began 2015 with its strongest first quarter since the dot-com bubble of 2000, as net absorption totaled 1.8 million sf according to 1Q 2015 Dallas office market report released by Newmark Grubb Knight Frank.

Absorption in Dallas-Fort Worth outpaced completions of nearly 1.6 million sf, which pushed the vacancy lower to end the quarter at 18.9 percent, down from 19.2 percent in 4Q 2014 and from 19.8 percent in 1Q 2014.

Asking rents at the end of first quarter averaged $21.99/sf full service, up by 0.8 percent over 4Q 2014 and by 4.9 percent over the past four quarters.

Select Sales Transactions
Building Submarket Sale
Price
Price/SF SF
2911 Turtle Creek Blvd Uptown/Turtle Creek $46.6 million $263 117,169
3100 McKinnon St Uptown/Turtle Creek $38.9 million $178 218,943
3900 N Dallas Rd Far North Dallas $26.2 million $218 120,019
250 E Arapaho Rd Richardson/Plano $24.7 million $158 155,984
2740 Dallas Pkwy Far North Dallas $20.75 million $177 117,050

Submarket Statistics
  Total
Inventory
(SF)
 Total
Vacancy
Rate
 YTD
Absorption
(SF)
 Total
Asking Rent
(Price/SF)
Dallas CBD 29,076,623 24.5% 331,164 $22.37
Fort Worth CBD 8,506,672 16.3% 29,561 $26.37
CBD Total 37,583,295 20.4% 360,725 $24.37


See the full Newmark Grubb Knight Frank Quarterly Office Market Report 1Q 2015 (PDF).

tag: DFW Market Research, DFW NewsTalk

Coming July 30: premier of Studio Movie Grill in The Colony 

(6/19/2015)

THE COLONY - Dallas-based Studio Movie Grill plans to open its eighth North Texas location next month in the Lewisville Towne Crossing complex at 4800 SH 121 in The Colony.

The 48,870-sf theater — slated to open July 30 — will house 11 auditoriums and will feature the company’s most advanced upgrades, including Christie and Dolby equipment and Clarity 3D by Masterimage.

Read more at the Dallas Morning News.

tag: DFW Market Research, DFW NewsTalk retail

Kroger adds cart to grocer mix near Dallas’ Arts District 

(6/19/2015)

DALLAS - Kroger has purchased a new store location off Ross Ave. — just blocks from downtown Dallas’ Arts District.

The big supermarket chain’s planned store is the latest new grocery store in the works for the downtown and Uptown area.

Kroger purchased a block of land on Hall St. between Ross Ave. and North Central Expressway — when it will open or the size of the building has not been disclosed.

The property is visible from the expressway and is in the middle of a neighborhood seeing high-density apartment and residential construction.

Two other grocery chains are making a move in Uptown.

Tom Thumb has signed a lease for a 60,000-sf store on Field St. at Cedar Springs Rd. near Victory Park.

Whole Foods Market is building a store on McKinney Ave. in Uptown.

Read more at the Dallas Morning News.

Feel free to link Dallas-Fort Worth-Arlington Market Research and Dallas-Fort Worth-Arlington NewsTalk to your own website or blog.

Arlington Skymark flies to $8.9M sale 

(6/18/2015 7:00:00 AM)

ARLINGTON - The eight-story, 115,700-sf suburban office building commonly known as Skymark Tower is being sold.

The aggregate purchase price for the Skymark Tower is $8.9 million.

Skymark Tower, built in 1985, is located along I-30 at 1521 North Cooper St. and is currently 74 percent occupied.

Hartman Short Term Income Properties XX Inc. entered into the purchase and sale agreement.

Read more at the Securities and Exchange Commission.

Hatcher Station Health Center stops on Dallas fast track 

(6/18/2015)

DALLAS - A neighborhood retail development for the site at the northwest corner of Hatcher St. and Scyene Rd. — Hatcher Station Health Center — adjacent to DART's Hatcher Station, has been established as a part of wider redevelopment effort in South Dallas.

The DART rail line connecting to Parkland Hospital was the start of a nearly $20 million development to build a new 44,300-sf outpatient clinic, called Hatcher Station Health Center.

This is the first part of a larger redevelopment. Ultimately, the development group would like to add additional retail, a grocery store and some residential component to the project, or even perhaps an educational outreach program as part of a larger community college institution.

Parkland is currently operating its own pharmacy, but a stand-alone pharmacy was always envisioned for the redevelopment.

Read more and see a slideshow at the Dallas Business Journal.

tag: DFW Market Research, DFW NewsTalk

Hilti opens new HQ in Plano; R&D in Irving 

(6/18/2015)

PLANO, IRVING - Global manufacturer Hilti North America, a subsidiary of Hilti Inc., has opened its new corporate offices within Legacy Towers in West Plano, as well as its new Irving product development facility.

Hilti North America's new corporate office at the southeast corner of the Dallas North Tollway and Legacy Dr. will employ about 250 corporate workers in West Plano.

The company's new Western Hemisphere Product Development and Tool Service Center opened within a 65,000-sf facility within Dallas-based Jackson-Shaw's new Parc Royal business park.

The center will employ about 50 workers.

Read more at the Dallas Business Journal.

More background information? See Hilti lands R&D near DFW Airport.

Feel free to link Dallas-Fort Worth-Arlington Market Research and Dallas-Fort Worth-Arlington NewsTalk to your own website or blog.

Eatery project reserves five acres in Richardson  

(6/18/2015)

RICHARDSON - A five-acre tract owned by the City of Richardson along Central Expressway is set to become a new dining destination in the southern part of the city.

A developer has purchased the property through an economic development agreement with the city and will be breaking ground on Restaurant Park, scheduled to open in mid-2016.

It will have up to seven restaurants with patio dining around a central plaza. Two restaurants — The Rock Wood Fired Kitchen and VertsKebap — have already been secured, according to Hermansen Land Development Inc.

Under the economic development agreement, Hermansen’s development corporation purchased the site for $2.2 million.

Read more at the Dallas Morning News.

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