NewsTalk Texas

Dallas-Fort Worth-Arlington

Frisco fields The Pit with 55,000-SF indoor soccer 

(8/28/2014 6:42:00 AM)

FRISCO - Construction has begun on a 55,000-sf indoor soccer facility, dubbed The Pit, outside of Toyota Park. The $5 million project will sit on a seven-acre tract at the southwest corner of North County Rd. and Meadow Hill Dr.

Plans for the soccer complex include five indoor soccer fields, event rooms and a concession area.

The two Frisco soccer dads behind the project — Brian Duncan and James Meese — hope the new project might host regional games and tournaments for soccer, lacrosse and football. The project has no official affiliation with MLS soccer team FC Dallas.

The City of Frisco will contribute $200,000 in infrastructure costs to the project through an economic incentive deal with Indoor Plex of Frisco LLC, who is working with Duncan and Meese to develop The Pit.

The Pit is scheduled for completion on or before April 30, 2015.

Read more at the Dallas Business Journal.

iPic Frisco: Wade Park scores Pinstripes Bowling, Bocce 

(8/28/2014)

FRISCO - Thomas Land and Development has announced two new venues that will be coming to its Wade Part mixed-use development: Pinstripes Inc. and iPic Theaters.

This will be the first Pinstripes Bowling, Bocce, Bistro location in Texas offering food and fun. The iPic, meanwhile, will offer luxury seating (including full leg recliners), gourmet food and handcrafted farm-to-glass cocktails.

Pinstripes will occupy 32,000 sf of first and second floor indoor and outdoor space. The venue will feature 16 bowling lanes, ten indoor and outdoor bocce courts, patios, fire pits and event space accommodating 20 to 600 people.

iPic is known for its “premium plus” seating that includes full-leg-reclining seats, pillows and blankets and individual service-call buttons that summon servers. Guests are also able to purchase food from iPic’s restaurant concept — Tanzy Express.

Wade Park, which broke ground earlier this month, is a 175-acre mixed use development along the Dallas North Tollway and Lebanon Rd. It will also be home to Whole Foods Market and include upscale retail, fine dining, entertainment, hotels, commercial office space and residential housing.

The first phase of Wade Park, which will include Whole Foods, Pinstripes and iPic, is set to open spring 2016.

Read more at the Dallas Morning News.

Alamo Drafthouse to open third DFW location in Las Colinas 

(8/28/2014)

IRVING - Alamo Drafthouse has announced that it will open its third Dallas-Fort Worth location at the $165 million Music Factory Entertainment Center that is currently under construction near the Irving Convention Center.

The mixed-use development in Las Colinas will add an Alamo Drafthouse at SH 114 and Fuller Dr. in spring 2016.

The announcement of the Music Factory location comes just one month after the company released plans to open a location in Downtown Dallas on S. Lamar St. and Cadiz St.

Read more at the Dallas Business Journal.

For more on the Music Factory, see previous story Stealing the show: $165M Music Factory rocking in Irving.

Hillwood to start 230,000-SF AllianceTexas spec project 

(8/27/2014 7:08:00 AM)

FORT WORTH - Developer Hillwood Properties is readying to start a speculative project that will bring Alliance Gateway 24 and 25 to its 18,000-acre AllianceTexas master-planned community.

Hillwood plans to develop Alliance Gateway 24 and 25 at the southeast corner of Park Vista Blvd. and Liberty Way in Fort Worth with vacancies ranging from 25,000 sf up to more than 230,000 sf. The developer plans to complete the project by first quarter 2015.

The two projects make good on a promise Hillwood President Mike Berry made to the Dallas-Fort Worth real estate community earlier this year. The North Texas region has more than 18 million sf of industrial space under construction as the market's vacancy rates reach historic lows.

The new facilities will offer suppliers and partners of the ability to locate in proximity to the more than 370 companies already at AllianceTexas, said Tony Creme, vice president of Hillwood.

"Hillwood continues to see strong demand for industrial space at AllianceTexas," Creme said. "With the increased density we're experiencing in and around AllianceTexas, there is a great opportunity to offer space that supports the overall growth in the region."

Read more at the Dallas Business Journal.

25 Years, 34M SF later: AllianceTexas continues to grow 

(8/26/2014)

FORT WORTH - Twenty-five years after breaking ground, the AllianceTexas development north of Fort Worth continues to grow.

“There’s 3.5 million sf under construction in just three buildings — 1 million sf of it is preleased,” said Mike Berry, president of developer Hillwood Properties.

About 37,000 people work in the development, which houses more than 370 companies.

There’s now almost 34 million sf of warehouse space at Alliance housing everything from FedEx packages to Amazon.com merchandise and Nestlé chocolate.

Along with warehouse space, new development includes almost 1 million sf of shopping, an office building that just opened and hundreds of apartments. The apartments are in a mixed-use district that includes a $71 million HCA Hospital that is under construction.

Berry estimates that the project is only about half built.

Read more at the Dallas Morning News.

Yes, you can now buy a washer and dryer in Dallas' NorthPark 

(8/26/2014)

DALLAS - Pirch, a California-based appliance and plumbing store, has opened a 32,000-sf store at NorthPark Center.

The store offers a luxury showroom environment to sell a wide range of home appliances. The store is Pirch's sixth, and it also has a distribution center in Farmer's branch.

Pirch replaces Barneys New York, which left the mall in 2013. Northpark leased the empty space to Pirch and Austin-based furniture retailer Arhaus, which opens in November.

Read more at the Dallas Morning News.

Dallas: SMU sorority opens $6.5M, 25,000-SF house 

(8/26/2014)

DALLAS - The Iota Alpha chapter of the Chi Omega sorority at Southern Methodist University has moved into its new $6.5 million sorority house.

The 25,000-sf residence replaces the former SMU Faculty Club at the site at 3034 Daniel Ave. Construction began in June 2013 after the group completed fundraising for the three-story building.

The interior of the Chi Omega house includes seating for 160 members, a safe room, an art studio and in-suite study areas.

The sorority will use the house to host events as well as provide housing for about 40 members each year.

Read more at the Dallas Business Journal.

DFW: UPS grabs two distribution centers, adding 500 jobs 

(8/25/2014)

ALLIANCE, McKINNEY - UPS has announced the lease of two new package distribution facilities in Dallas-Fort Worth.

The new facilities, one located in the Alliance development in far north Fort Worth and the other in McKinney, are expected to bring 500 new jobs to the local economy.

The Alliance building, nicknamed “Independence,” will create more than 300 package handler jobs and more than 50 tractor trailer driver positions.

The 495,000-sf building at 13700 Independence Pkwy. will serve UPS customers in the North Tarrant and South Denton counties.

The second building in McKinney will bring 120 new full-time jobs to the area. UPS will occupy 215,000 sf of an 888,000-sf facility at 3000 Redbud Blvd. and will serve Collin County through the location.

The company plans to occupy the new facility in November 2014.

With the addition of these sites, UPS now has eight buildings serving Dallas-Fort Worth with more than 7,500 employees. Applicants can learn more about UPS jobs at upsjobs.com.

Read more at the Fort Worth Business Press.

Total Wine & More to 33,000 SF in Arlington 

(8/22/2014)

ARLINGTON - Total Wine & More (TW&M) has leased 33,207 sf at the Arlington Highlands shopping center at 137 Merchants Row.

The store will have 50 full- and part-time employees, according to Ed Cooper, TW&M’s vice president of public affairs and community relations.

TW&M will occupy a space formerly leased by Ultimate Electronics, which vacated the property in 2005 after filing for bankruptcy.

Source: San Antonio Business Journal

Plano: 263,000-SF Granite Park Hilton debut set 

(8/21/2014 6:53:00 AM)

PLANO - Granite Properties will officially debut its 300-room Hilton on August 29.

The 262,500-sf Granite Park Hilton is located near the southeast corner of SH 121 and the Dallas North Tollway.

It includes 35,000 sf of conference space, a full-service restaurant, retail shop, a fitness center and outdoor pool and lounge.

A pedestrian boardwalk along the waterfront connects the hotel to its conference center and surrounding office buildings.

Next week's ceremony marks the completion of Granite Properties last expansion, which included Granite Park IV, a 12-story, 300,000-sf office tower that's 60 percent leased.

Granite Park IV and Granite Park Hilton make up the development firm's $150 million expansion to the business park.

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

Stealing the show: $165M Music Factory rocking in Irving 

(8/21/2014 6:50:00 AM)

IRVING - Developer Ark Group plans to begin its $165 million Music Factory Entertainment Center by the end of August.

Plans for the project include 300,000 sf of retail and restaurants, 100,000 sf of concert hall and amphitheater space with 8,000 seats, an outdoor event plaza and 100,000 sf of office space.

Ark Group is planning to host a groundbreaking ceremony in the 300 block of W. Las Colinas Blvd. near the Irving Convention Center on Saturday, Aug. 30 at 7 p.m.

In true entertainment style, Ark Group is putting together a party.

The firm is bringing food trucks, a performance from members from Dashboard Confessional and The Apples in Stereo, as well as a free outdoor movie screening of "Raiders of the Lost Ark" following the groundbreaking ceremony.

Read more at the Dallas Business Journal.

Downtown Fort Worth commercial stats 2Q 2014 

(8/21/2014)

FORT WORTH - Office and retail occupancy rates for Downtown Fort Worth for second quarter 2014 are available.

Data presented in the report are derived from the following sources: Sales and sales tax data are from the Texas Comptroller of Public Accounts, and office and retail occupancy rates from the Costar Group.

Downtown Fort Worth Office / Retail Occupancy Rates
 Type 2Q 2012 2Q 2013 2Q 2014
Office 91.3% 90.7% 85.7%
Retail 94.7% 92.4% 93.7%

Office Rental Rates
Downtown Fort Worth*
Type 2Q 2012 2Q 2013 2Q 2014
Class A $28.16 $28.35 $28.89
Class B $18.62 $20.62 $20.69
Class C $14.67 $18.10 $16.77

*Full service rent ($/SF/YR)

Read more at Downtown Fort Worth Inc.

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

Marriott hotel giddy-ups to Fort Worth Stockyards 

(8/21/2014)

FORT WORTH - The historic Fort Worth Stockyards — a well-known tourist attraction and national historic district — has landed a 124-room Marriott Courtyard hotel.

The hotel chain, which has already put its development team together, plans to begin construction immediately.

The hotel chain picked up about 2.2 acres for development of the hotel at 2533 N. Main St., adjacent to the infamous Billy Bob's Texas concert and dance hall.

The new Marriott Courtyard hotel will also be next to Cowtown tourist destinations, such as the Cowtown Coliseum, Fort Worth Livestock Exchange Building and near the historic district's cattle drives.

Read more at the Dallas Business Journal.

Saskaway acts on McKinney's 888,000-SF ex-Blockbuster HQ 

(8/20/2014 7:30:00 AM)

McKINNEY - A Canada-based investment group has purchased the 888,096-sf Blockbuster Inc. facility.

Saskaway Management plans to parcel the building located at 3000 Redbud Blvd. into a multi-tenant distribution hub.

The facility, which sits on more than 47 acres, has been vacant for the past two years.

In 2012, the former video rental giant moved its corporate offices to the McKinney distribution center from downtown Dallas after Dish Network Corp. acquired the company from bankruptcy for $320 million.

Read more at the Dallas Business Journal.

Fort Worth, Dallas condo sales comparison 2Q 2014 

(8/20/2014 6:45:00 AM)

FORT WORTH - Metro sales comparisons for condominiums and townhomes for second quarter 2014 are available courtesy of Downtown Fort Worth Inc.

Data presented in this report are derived from the North Texas Real Estate Information System’s MLS.

Condo and Townhouse Sales Comparison 2Q 2014
  Downtown
Fort Worth
Fort Worth
w/o Downtown
Fort Worth
Near Southside
Fort Worth
Cultural District
Downtown
Dallas
Units sold 32 83 0 15 28
Avg. sales price $280,522 $163,500 N/A $312,626 $293,810
Avg. list price $291,881 $170,020 N/A $323,900 $302,360
Avg. $/SF $215 $110 N/A $194 $180
Avg. DOM* 96 101 N/A 196 72
Avg. SP/LP** 96.6% 96.2% N/A 96.5% 97.2%
Avg. SF 1,304 1,483 N/A 1,604 1,628

*days on market
**sales price to list price

All information is deemed reliable but should be independently verified.

Read more at Downtown Fort Worth Inc.

Check out more multifamily and other sectors at Dallas-Fort Worth-Arlington Market Data Sources.

New 275-unit apartments coming to Frisco Square 

(8/20/2014)

FRISCO - The Ablon at Frisco Square apartments, a 275-unit urban-style apartment project will be constructed by Behringer and PegasusAblon just south of Main St. and just across from Frisco’s City Hall.

The four-story development, which stalled during the recession, is the second major addition announced for Frisco’s 14-year-old town center on the Dallas North Tollway.

The Frisco rental complex will be of the same quality that developers are building in Uptown and other central Dallas neighborhoods.

Ablon apartments is expected to be ready for first occupancy by fourth quarter 2015.

Read more at the Dallas Morning News and PRNewswire.

Perot starts 200,000-SF Dallas HQ on Turtle Creek 

(8/20/2014)

DALLAS - Perot Group has broken ground on its new headquarters, a 200,000-sf office project north of downtown on six acres at Bowen St. and Turtle Creek Blvd.

The office building will house operations for the Perot Group, Perot’s development company Hillwood Communities and other family businesses.

Hillwood bought the building site — one of the last development properties along Turtle Creek — in 2011.

The development is intended to take only about two-thirds of the Turtle Creek tract, leaving the rest of the property for nature area and open space.

Read more at the Dallas Morning News.

Dallas apartment rents up by more than 4 percent in July 

(8/20/2014)

DALLAS - In July, average apartment rents in the Dallas-area were 4.3 percent higher than a year ago, according to a new report by Axiometrics Inc.

That’s ahead of the 3.8 percent nationwide apartment rent growth rate.

“Effective rent growth has increased for five straight months, but is still a long way from the summer of 2011, when the rate was in the 5 percent range,” Axiometrics Vice President Stephenie McCleskey.

“On the other hand, it’s becoming more and more likely that 2014 will be the strongest overall year for the apartment market since the recession ended. This is the year of the apartment.”

Overall apartment vacancies in the Dallas area were just over 5 percent in July, about the same as the nationwide rate.

Almost 30,000 apartments are under construction in North Texas, making it one of the top apartment building markets in the country.

Read more at Dallas Morning News.

Frisco Aquatics adding $3M pool, sponsors as club grows 

(8/20/2014)

FRISCO - Frisco Aquatics is currently building a 29,540-sf swim center at 8353 Legacy Dr. The facility, which sits on a 3.5-acre tract, has an estimated cost of construction of $3 million, according to state filings.

The new facility, which includes an Olympic-size pool, warm water lesson pool, viewing lobby and offices, is expected to be complete sometime in September and a grand opening is expected to be held sometime this fall.

Frisco Aquatics is one of few youth sports teams in the country to build its own facility and seek corporate sponsorships. Since 2009, the Frisco club has seen unprecedented growth with its membership increasing from about 140 swimmers that year to more than 600 today.

The new center is expected to offer therapeutic swimming, Special Olympics, water safety clinics and education. It will also have SwimAmerica learn-to-swim and United States Masters Swimming programs.

The North Texas Ford Dealers Group has purchased the naming rights to the facility, and the facility will be called Texas Ford Aquatics Center beginning September 1.

Read more at Community Impact Newspapers and the Dallas Morning News.

Dallas: Preston Hollow Village's next step to 500 apartments 

(8/19/2014 9:30:00 AM)

DALLAS - Within the next 60 days, developer Provident Realty Advisors will break ground on 511 apartments at its 42-acre Preston Hollow Village project.

The apartments will span three large buildings at Preston Hollow Village, which is located at the northwest corner of Walnut Hill Lane and N. Central Expy.

The rental units will be just north of where Provident is building a shopping center that is anchored by a Trader Joe’s grocery.

The apartment development was always planned as part of Preston Hollow Village, one of the largest projects underway in North Dallas. The mixed-use development is being constructed on the site of a former rental housing community that was torn down in 2008.

Along with the 14,000-sf Trader Joe’s, there’s 61,000 sf of restaurant and shopping space, plus a parking garage. The office and retail complex at Preston Hollow Village will be open in early 2015, according to Provident CEO Leon Backes.

Read more at the Dallas Morning News.

258,000-SF Plano Tech Center sells to Cobalt Capital 

(8/19/2014 6:40:00 AM)

PLANO - Cobalt Capital Partners has purchased the 257,864-sf Plano Tech Center.

The three-building industrial project is located on East Plano Rd. and Klein Rd.

Read more at the Dallas Morning News.

Adams Golf to shutter Plano HQ; lay off 138 employees 

(8/19/2014)

PLANO - Two years after Plano-based golf manufacturer Adams Golf sold to The Adidas Group, which lumped the golf club design and assembly plant in its TaylorMade-Adidas Golf business segment, the company will shutter its doors later this year.

Adams Golf will close its manufacturing operations in Plano, which will lead to the layoff of 138 employees.

Adams Golf has a lease for 65,135 sf at 2801 Plano Pkwy., as well as another space at 2800 Technology Dr.

The company plans to lay off its first group of employees at both locations on Oct. 15, followed by the majority of Adams Golf employees by or on Nov. 30, according to Texas Workforce Commission documents.

Read more at the Dallas Business Journal.

Arlington Disaster Warehouse(s) 174,000 SF; largest in U.S. 

(8/18/2014 9:58:00 AM)

ARLINGTON - The American Red Cross assistance group's largest U.S. disaster supplies warehouse will open Aug. 20, 2014. The 174,000-sf facility is located on New York Ave.

Red Cross officials announced the Disaster Field Supply Center in Arlington will have enough items to support up to 100,000 victims.

The warehouse will have thousands of cots, blankets, personal hygiene items, cleanup kits, coolers and cooking supplies.

The Arlington location will also host blood drives and first aid courses and will become home to a new Disaster Action Team that will respond to local emergencies in Arlington, Mansfield, Kennedale and Grand Prairie.

Source: NBC DFW

Conti books 270,000-SF Fort Worth Star-Telegram facility 

(8/18/2014 9:53:00 AM)

EDGECLIFF VILLAGE - Conti Warehouses in Fort Worth has signed a contract to buy the 270,000-sf Fort Worth Star-Telegram printing facility.

Star-Telegram employees working at the facility will move to the newspaper's downtown offices at 808 Throckmorton St.

Conti Warehouses is known for repositioning large warehouse buildings.

The deal, which includes the facility and 38 acres of land, will be closed in early fall.

Read more at the Dallas Business Journal.

166,000-SF Tower of Frisco Square groundbreaking 

(8/18/2014)

FRISCO - Encore Enterprises is breaking ground this week on the 165,821-sf Tower of Frisco Square. The five-story office tower will be constructed on Frisco’s Main St., right across from the Toyota Stadium.

The office tower will house offices for Plano-based Gearbox Software and other business tenants.

The project is right next door to where developer PegasusAblon and investor Behringer plan to construct a 275-unit luxury apartment project in the Frisco Square development.

Encore’s project, which is in partnership with Wolverine Interests, will be ready in 2015.

Read more at the Dallas Morning News.

Grapevine's 202,000-SF DFW warehouse sold to Minn. firm 

(8/18/2014)

GRAPEVINE - A Minneapolis investor has purchased a 202,140-sf warehouse complex at Dallas-Fort Worth International Airport.

The two-building industrial campus is located at 2400 Esters Blvd. and is fully leased to DB Schenker.

The buyer is an affiliate of Minneapolis-based Olympic Ventures. The complex was constructed in 2008.

DB Schenker has five years remaining on its lease at the two properties.

Read more at the Dallas Morning News.

Dallas Orange DART(s) to DFW airport station 

(8/18/2014)

DALLAS-FORT WORTH - The newest stop on the Orange Line at Terminal A is open, according to officials from Dallas Area Rapid Transit and DFW International Airport.

The five-mile addition to the route makes DFW Airport the world’s third-busiest airport with direct rail access.

The Orange Line extends through Dallas and continues to Plano with stops in downtown Plano and at Parker Rd. The DFW Airport station provides an alternative to parking for people wishing to take long-term trips.

A trip to the airport on DART Rail can be covered by a two-hour pass for $2.50, but longer-range travel options are available.

Read more at impactnews.com

Mill Creek adding 179 apartments to Dallas N. Central Expy. 

(8/18/2014)

DALLAS - Developer Mill Creek Residential Trust has started work on a 179-unit apartment community on N. Central Expy. and Elizabeth St. The seven-story development is being built on the site of a two-story office building that Mill Creek is currently demolishing.

The project is scheduled for completion at the start of 2016.

Mill Creek was formed in 2010 by former top officers of Trammell Crow Residential. The Dallas-based builder expects to finish more than 4,000 apartments this year.

Read more at the Dallas Morning News.

Stephenville: Tarleton State housing $38M in phase two 

(8/15/2014)

STEPHENVILLE, ERATH COUNTY - Tarleton State University will soon break ground on a $38 million second phase of student housing development. The project includes the construction of a new 502-bed facility and the renovation of an existing 80-bed facility.

The new dorm will consist of a four-story structure with four- and two-bedroom units that will include private bedroom accommodations, semi-private baths, a living room and kitchenette.

University Village, an off-campus student housing facility located at 805 N. Lillian St., will receive minor upgrades to allow for ADA compliance. Upon completion, Tarleton will maintain and operate both facilities.

In August, the university will complete construction on a $25 million residence hall at the corner of Jones St. and Lillian St. Work on the four-story hall began summer 2013. The 514-bed facility will help the university provide accomodations for an increasing student enrollment.

Read more at Student Housing Business.

For more on the soon-to-be-completed residence hall, see Tarleton State University and previous story Tarleton State readies for $25M housing.

700,000-SF JJ Lemmon Distribution starts by Crow on I-20 

(8/14/2014 11:00:00 AM)

DALLAS COUNTY - Trammell Crow, Clarion Partners and Rosewood Property Co. have purchased almost 100 acres in Far South Dallas to build a more than 700,000-sf, Class A industrial warehouse project.

The project, located at the northwest corner of I-20 and I-45, is called the JJ Lemmon Distribution Center.

“Class A industrial space in the Southern Dallas market is scarce and demand remains strong due to the efficient network of highways including I-20, I-45 and I-35 as well as the UP Intermodal,” Scott Krikorian, Crow senior managing director, said.

Work has begun on the two-building development, which is expected to be open by mid-2015.

Read more at the Dallas Morning News.

NTREIS: DFW area home sales sold July 2014 

(8/14/2014 8:45:00 AM)

DALLAS-FORT WORTH - North Texas Real Estate Information Systems (NTREIS) released home sales facts for July 2014.
Some quick facts include:

•  The median price of existing single-family homes increased to $189,900, the same as June 2014.
•  Existing single-family home sales decreased 5.4 percent from June 2014 for a July 2014 total of 8,059 units sold.
•  Condos increased in price to $164,990 up 3.8 percent from June 2014.
•  Existing condo sales decreased 14.2 percent in July 2014 over June 2014 for a total of 501 units sold.

Select region cities are represented below along with statistics from the NTREIS area as a whole.

NTREIS June 2014 Regional Sales and Price Activity
MLS Wide Median Price
  July 2014
Price Chg.
vs. July 2013
Units Sold
  July 2014
Sales Chg.
vs. July 2013
NTREIS
(single-family)
$189,900 5.6% 8,059 -7.6%
NTREIS (condo) $164,990 10.0% 501 -3.8%
Region Cities*        
Fort Worth $159,400 7.1% 894 -7.9%
Dallas $289,000 9.6% 718 -15.7%
Frisco $315,000 14.1% 315 -1.3%
Plano $275,000 10.0% 315 -19.4%
Arlington $150,000 7.1% 314 -8.7%
Garland $138,250 2.0% 192 -11.1%
Allen $249,900 4.8% 154 -6.1%
Denton $169,150 -0.4% 142 -8.4%
Flower Mound $324,950 8.5% 140 -9.1%
Carrollton $199,000 2.1% 139 -19.2%
Grand Prairie $169,900 4.2% 139 -22.3%

*Region Cities' data include single-family only and represent 11 select cities sorted by units sold.

See Housing under Dallas-Fort Worth-Arlington Market Data Sources or see the full report from North Texas Real Estate Information Systems.

REIT pays $28M for Lewisville's 163,000-SF Lake Vista Pointe 

(8/14/2014 7:00:00 AM)

LEWISVILLE - City Office REIT has purchased Lake Vista Pointe, a 163,336-sf office building located at 2911 Lake Vista Dr. The contract purchase price for the property was $28.4 million, exclusive of closing costs.

Built in 2007, Lake Vista Pointe is 100 percent leased to Ally Financial Inc. The property is part of Vista Ridge Business Park, which is home to a variety of large institutional companies such as JPMorgan Chase and TIAA-CREF.

Lake Vista Pointe is leased to Ally Financial on a triple-net basis through April 30, 2021. Ally has one five-year renewal option of the lease. The property consists of a two-story office building with 1,070 parking spaces on 13.8 acres.

Read more at Equities.com and at City Office REIT.

Hoya Optical: 102,000-SF Grapevine relocation in sight 

(8/14/2014)

GRAPEVINE - Hoya Optical will be moving in October to a 203,024-sf, Class A industrial building in Grapevine.

The leading supplier of advanced optical materials will occupy 101,817 sf at the building located at 755 Regent Blvd.

Built in 2013, the building sits right by the International Pkwy. in the International Commerce Park and in the Las Colinas industrial area.

Read more at CoStar Group.

Dallas Love to San Francisco, Oakland 

(8/13/2014)

DALLAS - Southwest Airlines has announced it will begin a daily flight from Dallas to both San Francisco and Oakland on January 6, 2015.

Right now, Southwest is limited to a handful of states that it can serve nonstop out of Dallas Love Field, and California isn’t one of them. On Oct. 13, the Wright amendment restricting Love Field expires, allowing nonstop service to any U.S. airport out of the Dallas airport.

Southwest’s first announcement included Los Angeles, New York, Washington and Chicago. These services are set to begin on Oct. 13 and Nov. 2.

The addition of Oakland and San Francisco were part of Southwest’s new schedule, extended into March 2015.

Read more at the Dallas Morning News.

Plano 474-unit Windhaven Park purchased 

(8/13/2014)

PLANO - Dallas-based Beneke Krieg Co. has purchased the 474-unit Windhaven Park.

The rental community is located at the northwest corner of Windhaven Pkwy. and Communications Pkwy., near the Dallas North Tollway.

Built in 1991, Windhaven Park is 95 percent leased.

Read more at the Dallas Morning News.

DFW home prices up 5.2 percent in 2Q 2014 

(8/13/2014)

DALLAS-FORT WORTH - DFW home prices were up 5.2 percent in second quarter 2014 from 2013, according to a survey by the National Association of Realtors, which analyzed 173 U.S. housing markets.

Nationwide, prices were up 4.4 percent, the smallest increase since 2012, while median sales prices in second quarter were at a record $212,400.

The comparable median price in the DFW area for 2Q 2014 was $191,300, while Austin had the highest median price in the state at $247,500.

DFW home price gains cooled substantially from the 9 percent rise in first quarter 2014.

For the first seven months of 2014, North Texas median prices were up 7 percent from the same period last year.

Read more at the Dallas Morning News.

Gas Monkey to open 38,000-SF Dallas venue 

(8/13/2014)

DALLAS - Gas Monkey will be opening a 38,000-sf venue across the street from its restaurant and bar near I-35.

The venue will be called Gas Monkey Live and will include a game room with pool tables and vintage pinball machines, as well as a VIP area with booths and table service.

Gas Monkey Live’s capacity sits an estimated 2,500 people.

The venue, owned by reality TV star Richard Rawlings, will have its grand opening on October 11.

Read more at the Dallas Morning News.

Denton County opens $15.7M juvenile center expansion 

(8/13/2014)

DENTON COUNTY - Denton County has opened a $15.7 million addition to its Juvenile Detention Center at 210 S. Woodrow Lane.

The expansion consisted of two buildings totaling about 55,000 sf. The juvenile post-adjudication building is 25,000 sf, while the building for the Juvenile Justice Alternative Education Program is about 29,000 sf.

The addition added 32 beds, eight classrooms, a cafeteria with an auditorium, an administration area and a visitation area.

The 32 beds are for those who have been ordered to be in that program and that facility by the juvenile court.

The addition is part of the master plan for the entire campus, which includes the county courthouse, jail and juvenile center.

Read more at the Denton Record-Chronicle.

Pier I takes 313,000 SF of Fort Worth Chesapeake Plaza 

(8/12/2014 1:00:00 PM)

FORT WORTH - Pier 1 Imports will get its name back on the 20-story office tower it built as a headquarters a decade ago following the building’s sale by Chesapeake Energy to Houston-based Hines.

Pier 1 will expand its headquarters lease and take over 19 floors, or more than 313,000 sf of space. Chesapeake will consolidate its employees and offices to the building’s 20th floor.

The office complex on the banks of the Trinity River was built for Pier 1 Imports and later became home to Chesapeake Energy.

Chesapeake bought the building, at 100 Energy Way, from Pier 1 Imports for $104 million in 2008, renaming it Chesapeake Plaza. Pier 1 built the 460,000-sf office tower that opened in 2004, spending $90 million for the land and construction. Its original address was 100 Pier 1 Place.

The central business district has a current vacancy rate of 17.2 percent in its Class A buildings, according to market reports. Sales prices of Class A buildings in the past year have been about $170 per sf, the report said.

The building is being renamed the Pier 1 Imports Building to recognize its long-term commitment to the property.

Read more at the Dallas Morning News and Fort Worth Star-Telegram.

H-E-B doubling Cleburne location with new store 

(8/12/2014)

CLEBURNE - H-E-B has broken ground on its new store at 600 W. Henderson St., directly behind the current location.

The new store will be twice the size of the original location, showcasing 70,000 sf of products, expanded departments and new services. Construction is expected to be completed in spring 2015.

H-E-B is also adding 30,000 sf to its Waxahachie store, and is turning the Burleson location into DFW’s first H-E-B Plus! store, which will be 115,000 sf.

H-E-B has more than 350 stores across Texas and Mexico and generates $20 billion in annual sales.

Read more at the Dallas Business Journal.

Stephenville: Texas Health $14M emergency dept. underway 

(8/12/2014)

STEPHENVILLE, ERATH COUNTY - Construction is now underway to build a new $14 million emergency department at Texas Health Harris Methodist Hospital Stephenville.

The new emergency department will have 12 beds. The project also includes a new drop off canopy and ambulance entrance and renovation of the existing emergency department entrance. The construction will add 15,725 sf of new space and will renovate 3,102 sf.

Completion is expected in summer 2015.

Read more at the Stephenville Empire-Tribune.

DFW Airport terminal renovation grows to $2.7B 

(8/12/2014)

IRVING - Dallas-Fort Worth International Airport has boosted its terminal renovation project budget by $650 million to $2.7 billion. The airport has added a longer construction schedule, more asbestos abatement and the re-addition of gates to Terminal C to the project’s agenda.

The airport added a new parking garage to Terminal A as part of the project and American Airlines has asked that gates in Terminal C that were going to be demolished as part of the original project be renovated.

As a result of the budget increase, the airport will be issuing an additional $450 million in bonds. The airport currently has about $6 billion in debt from the construction of Terminal D, its Skylink train and the renovations of Terminal A, B and E.

The bonds will be paid for by an increase in fees and terminal rents on the airport’s airline tenants. American Airlines’ board has already approved the new $2.7 billion budget.

Read more at the Fort Worth Star-Telegram.

Southlake: KTR developing 335,000-SF industrial project 

(8/12/2014)

SOUTHLAKE - New York-based KTR Capital Partners is developing a two-building industrial complex — Heritage Business Park. The project will contain two office and warehouse buildings totaling 335,000 sf.

The development is located at S. Kimball Ave. and State Hwy. 26, across from Dragon Stadium.

The project is scheduled to open May 2015. MYCON General Contractors Inc. said it has been selected as the contractor.

Read more at the Dallas Morning News.

Home demand in North Texas outpaces supply 

(8/11/2014 8:00:00 AM)

DALLAS-FORT WORTH - Hopes are fading that North Texas will see an increase in housing inventory in 2014. In July, the number of houses listed for sale with real estate agents in the area was down 7 percent from July 2013.

Across the board, inventories remain at about half is what is considered normal. Housing analysts and real estate agents had anticipated that higher prices would bring a flood of new properties on the market to meet demand from eager buyers.

That hasn’t happened, as demand has continued to outpace the supply of inventory in the market.

In July, home sales were up just 3 percent from July 2013. For the first seven months of 2014, preowned single-family home sales are down 1 percent from the same period in 2013, according to data from the Real Estate Center at Texas A&M University and North Texas Real Estate Information Systems.

Prices of homes are now about 40 percent higher than at the bottom of the recession in early 2010. Because of the strong buyer interest, it only takes an average of 44 days to sell a house in the area.

North Texas Preowned Home Sales July 2014
  Single-family homes Condos/townhomes
  July 2014 Chg. from
July 2013
July 2014 Chg. from
July 2013
Resales 9,578 3% 580 5%
Median price $196,500 7% $165,000 5%
Average days on market 44 -10% 48 -19%
Pending sales 7,887 3% 479 0%
Listed for sale 22,827 -7% 1,446 -10%

Source: Real Estate Center at Texas A&M University; North Texas Real Estate Information Systems

Read more at the Dallas Morning News.

Grand Prairie's 148,000-SF Emerald Square to sparkle 

(8/11/2014)

GRAND PRAIRIE - TriMarsh Properties has purchased Emerald Square, a 148,272-sf shopping center at 2985 S. Hwy. 360.

The retail real estate investment firm is planning a big redevelopment, including refurbishing the facade and adding LED signage to increase the visibility along the highway.

"I'm confident that investing in improvements including the property's curb appeal and other features will pay huge dividends in the future," said Bo Avery, TriMarsh's president.

Read more at the Dallas Business Journal.

Mixed-use Village of Rowlett planned by Atlanta firm 

(8/11/2014)

ROWLETT - The Village of Rowlett — a $30 million urban village with 254 residential units, shops and a new public library — will be underway at the beginning of 2015.

The Village will carry forward the city’s “new urban energy” to the edges of Hwy. 66 and the President George Bush Turnpike.

Integral is doing the Rowlett project in partnership with local firm Catalyst Urban Development.

Read more at the Dallas Morning News.

Scottish Rite to build 100,000-SF facility in Frisco 

(8/11/2014)

FRISCO - Dallas-based Texas Scottish Rite Hospital for Children (TSRHC) has chosen Frisco to build its first branch facility — a 100,000-sf ambulatory care center.

Construction could begin as early as spring 2015 on the northeast corner of Lebanon Rd. and the Dallas North Tollway. The site is across from the Wade Park development, which broke ground last week.

The new care center will be an extension of the original Dallas campus and will initially be used for outpatient services and day surgeries for children with orthopedic issues.

TSRHC hopes to “impact the community in this new era of health care reform” and “better serve the families” that they take care of with the new facility.

About 25 percent of the hospital’s patients are from areas of North Dallas.

TSRHC is based in downtown Dallas at Oak Lawn Ave. and Maple Ave., right off the Dallas North Tollway and 23 miles from Frisco.

Read more at impactnews.com

Dallas 1.4M-SF 1700 Pacific to Canadian Montreal Olymbec 

(8/8/2014)

DALLAS - Olymbec of Montreal has made a big growth spurt of its assets in the United States with the buy of the 49-story, 1.4 million-sf 1700 Pacific Ave. skyscraper.

It is expected that the new owner of the Pacific 1700 on Pacific Ave. in Dallas will in turn invest "millions of dollars" in renovations in order to attract new business tenants.

The office building, built in 1983, is valued at $51 million according to the City of Dallas.

The Class A skyscraper has an underground parking garage, as well as an off-site garage connected to the building via air-conditioned sky bridges.

A Chase bank branch, a large food court, a fitness center and an underground tunnel system connecting the tower to nearby buildings are also present within the property.

Since being placed on the market, the building occupancy sits at 50 percent, with Akin Gump Strauss Hauer & Feld LLP anchoring the property, along with Neiman Marcus. The tower also serves as the corporate offices for tech company APEX Clearing Corp.

Read more at Affaires LaPresse Ca. and Dallas Business Journal.

DFW far outpaces rest of Texas in industrial construction 

(8/8/2014)

DALLAS-FORT WORTH - Almost twice as much industrial space is under construction in North Texas as there is being built in the other top Texas markets combined, according to a new report by CBRE Group.

More than 18.5 million sf of warehouse space is being built in the Dallas-Fort Worth area, CBRE estimates.

The other top Texas industrial building markets — Houston, Austin and San Antonio — together have only about 10.5 million sf of industrial space being built.

Most of the warehouse construction underway in the area is in southern Dallas County, in North Fort Worth and near DFW International Airport. A majority of the local industrial space started to far in 2014 has been speculative with no tenants signed to leases.

Read more at the Dallas Morning News.

See the Industrial category under DFW Market Data Sources for current data.

500,000-SF Meacham Crossing to deliver in Fort Worth 

(8/8/2014)

FORT WORTH - New York City-based KTR Capital Partners is nearing completion on Meacham Crossing, a 502,320-sf industrial building.

Meacham Crossing is located on 28 acres at 4601 Gold Spike in Railhead Industrial Park near Loop 820 and I-35W. The project is expected to be completed by the end of the year.

At completion, the Class A facility will be available for lease to multiple tenants.

Read more at the Dallas Business Journal.

Frisco's Wade Park project underway with 2M SF of office 

(8/7/2014 11:00:00 AM)

FRISCO - The developer behind the mixed-use development Wade Park has expanded the project's plans by 65 acres, bringing more office space to the growing city.

Georgia-based Thomas Land & Development LLC broke ground on the 175-acre development at the Dallas North Tollway and Lebanon Rd., which was originally designed to cover 110 acres.

The initial phase of the development includes a 45,000-sf Whole Foods Market. In the coming weeks, Thomas plans to announce entertainment venue tenants, as well as a hotel.

The first phase also includes the development of more than 2 million sf of Class A office space. Thomas also plans to develop 1,300 apartments, 50 condominiums and 127 single-family homes with luxury amenities and concierge services.

The initial phase of Wade Park is scheduled to open in spring 2016.

Read more at the Dallas Business Journal.

Dallas: Calif. firms take 300,000 SF in KPMG's skyscraper 

(8/7/2014)

DALLAS - Two companies relocating from Southern California to downtown Dallas will rent at least 300,000 sf in the KPMG Centre skyscraper. The two companies are bringing 1,450 jobs to downtown Dallas.

They will also receive almost $14 million in incentives from the city and state.

Active Network LLC signed a 200,000-sf, ten-year lease in the office tower at 717 N. Harwood St., according to filings with the City of Dallas. The San Diego-based software company plans to start moving 1,000 jobs into the 34-story high-rise starting in September.

A related company, fleet management services firm Omnitracs, is renting 100,000 sf in the KPMG Centre where it will locate its world headquarters and 450 workers — also moving from San Diego.

Investment firm Vista Equity Partners, which has offices in San Francisco and Austin, owns both companies.

Read more at the Dallas Morning News.

Richardson CityLine gaining 532 apartments  

(8/6/2014)

RICHARDSON - Developers KDC and JLB Partners have broken ground on 532 apartments located in the 186-acre CityLine development on Plano Rd. The first units will be ready summer 2015 and are part of a mixed-use development next door to a DART commuter rail station.

A four-story complex will have 233 apartments on top of 20,000 sf of retail space, and further south at CityLine Dr., a five-story rental project will contain another 299 units.

JLB Partners’ new apartments will range in size from 573 to 1,550 sf. Another 300 rental units are planned in a second phase of development.

The $1.5 billion CityLine project is the largest real estate development in North Texas and will house more than 8,000 State Farm workers plus almost 1,700 Raytheon employees in two large office campuses. A 250-room Aloft Hotel and shopping center anchored by Whole Foods Market grocery are also part of the project, which has been under construction for more than a year.

The entire development is planned to ultimately contain 6 million sf of office space, two hotels, 3,925 apartments, 300,000 sf of retail space, and three parks.

Read more at the Dallas Morning News.

Red River grabs Irving's 95,000-SF Decker Hills 

(8/6/2014)

IRVNG - Red River Asset Management has purchased Decker Hills, a 95,875-sf office building at 104 Decker Court. The property is valued at $5.7 million, according to the Dallas Central Appraisal District.

Red River purchased the property in a joint venture with Tennessee-based Chestnut Development Partners and the building’s new lead tenant, DW Energy.

The building has a built-in competitive advantage being adjacent to the ninth hole at Las Colinas Country Club, which offers spectacular views for tenants, according to Bruce Stern, principal at Red River.

"Our renovation plan will leverage the natural beauty of the setting and provide a jewel box office opportunity in a desirable submarket," Stern said. Plans for renovating the property include upgrading the lobby and restrooms.

Read more at the Dallas Business Journal.

Arlington: GM Financial buys 240,000-SF property 

(8/4/2014)

ARLINGTON - General Motors Financial Company Inc. (GM Financial) has completed the purchase of a 240,000-sf property to expand its Arlington Operations Center campus. The facility is located on 22 acres near the intersection of I-20 and Collins St.

The facility will accommodate approximately 800 to 900 employees, most of whom will be new hires over the next two to three years. The company plans to upgrade the exterior, parking lot and interior of the building.

Although the company will begin occupying the space in the next few months, the renovations are expected to take nearly 24 months to complete. When finished, GM Financial will use the new office space for operations and as a training and conference center.

The new facility is located one block east of two buildings currently occupied by nearly 2,150 GM Financial employees and used for operations and customer service. The company employs 6,200 team members worldwide and is headquartered in downtown Fort Worth.

Read more at Fort Mill Times.

Grand Prairie: $43M apartments slated for Mira Lagos 

(8/1/2014)

GRAND PRAIRIE - A $43 million apartment community, the Enclave at Mira Lagos, will be built near Joe Pool Lake. This project will become part of a larger master-planned community, Mira Lagos.

The 310-unit apartments will be built in phases, beginning with 199 apartment homes. The community will feature a clubhouse, fitness center, pool and outdoor patios.

Hanover Property Co. and Alpha-Barnes Real Estate Services are developing the apartments.

Read more at the Dallas Business Journal.

Dallas: Crow flies to 1.3M-SF distribution/warehouse on I-20 

(7/31/2014)

DALLAS - Another warehouse project is slated for construction in the I-20 corridor in southern Dallas County. Crow Holdings Capital Partners LLC has announced that it is developing Mountain Creek, a two-building, 87-acre industrial park on I-20 at Grady Niblo Rd.

The project is planned to contain 1.3 million sf of distribution and warehouse space.

The first building in the new Mountain Creek project will contain 630,000 sf.

Read more at the Dallas Morning News.

Austin investor buys 91,000-SF Farmers Branch building 

(7/30/2014)

FARMERS BRANCH - Capital Commercial Investments Inc. has acquired the 91,117-sf Two Hickory Centre at 1750 Valley View Ln., north of LBJ Fwy.

The Austin investor purchased the property from Los Angeles-based Cathay Bank.

The property is about 40 percent leased to tenants including Beazer Homes, Bartlett Cocke and Border Foods.

Read more at the Dallas Morning News.

DFW midyear 2014 retail report: Weitzman 

(7/29/2014)

DALLAS-FORT WORTH - The Weitzman Group and Cencor Realty Services have released their midyear retail report highlighting DFW’s 90.5 percent occupancy rate.

The occupancy rate is a notable improvement compared with midyear 2013, when the market reported 89.3 percent.

In terms of construction, grocery stores dominate new projects. Only a few projects have non-grocery anchors. Approximately 40 new traditional and specialty grocery store locations are opening in 2014 and 2015 across the Metroplex.

The new space in the market is opening basically fully leased. Based on projects opening or scheduled for completion by year-end, the DFW retail market is on track to add approximately 1.9 million sf of new retail space during 2014.

That job and population growth has captured the attention of retailers, restaurants, service merchants and medical users. As a result, the majority of Class A retail centers have occupancies in the 95 percent or better range.

Read more at The Weitzman Group and Cencor Realty Services.

Costco ID's Dallas site for 146,000-SF store 

(7/29/2014)

DALLAS - Costco has identified a site to build a 146,000-sf store just south of LBJ Fwy. and west of North Central Expy., near Coit Rd.

The Seattle-based warehouse club has stores all around North Texas, but this would be the first in the City of Dallas.

Recently it has opened stores in Duncanville, Fort Worth, Arlington, Southlake, Lewisville, West and East Plano, Frisco and Rockwall.

Costco stores generate twice the sales of an average Sam’s Club.

Read more at the Dallas Morning News.

DFW: office construction pipeline increases 309 percent 

(7/29/2014)

DALLAS-FORT WORTH - The office sector for the Dallas-Fort Worth area has experienced a construction pipeline increase of 309 percent, according to the second quarter 2014 market report by PM Realty Group.

DFW has increased to more than 5.4 million sf under development, with nearly 70 percent of the space already preleased. During 2Q 2014, more than 1 million sf of new construction entered the market.

DFW’s office market recorded 460,495 sf of direct net absorption during 2Q 2014, bringing the 12-month total to 3.2 million sf.

Due to the strong leasing demand, occupancy levels have climbed to an 11-year high and asking rents have risen to their highest level since 2008.

The current pace of job growth is expected to continue throughout 2014 and forecasted to improve significantly for 2015, according to Kurt Cherry, PM Realty Group’s EVP.

Read more at GlobeSt.

New Jersey tech firm calls 1,200 to new Allen HQ 

(7/29/2014)

ALLEN - CVE Technology Group Inc. has moved its headquarters to Allen where it plans to employ 1,200 people in a 196,000-sf building at Enterprise Business Park.

The New Jersey tech firm currently has about 300 workers occupying 40 percent of the building at 915 Enterprise Blvd. The building is being used by the tech firm as offices and a service center.

CVE plans to have 600 workers in the facility by the end of this year and 1,200 by the end of 2015.

CVE, an after-market service provider for cellular handsets and consumer electronics, moved from Riverdale, N.J., to the DFW region because it "is the epicenter of cell phone growth and activity," according to CVE Vice President Ruben Alvarado.

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

Encore Wire growing McKinney operations with $30M investment 

(7/29/2014)

MCKINNEY - Encore Wire Corp. will spend more than $30 million to expand its McKinney plant to a 450,000-sf facility.

Along with more than doubling its size, Encore plans to hire 125 people through the expansion.

Encore has been in business since 1989, has grown from 12 to almost 1,200 workers. 

The plant expansion is scheduled for completion by the end of 2015.

Read more at the Dallas Morning News.

Fort Worth's downtown Ashton Hotel sold, upgrades planned 

(7/29/2014)

FORT WORTH - The Ashton Hotel, a 39-unit historic boutique hotel in downtown, has been sold.

Located at 610 Main St., the hotel first opened in 1890 (two-story) and 1915 (six-story). Following a complete renovation, the hotel reopened in 2001. Then, in 2008, another $1 million in upgrades were done.

Ashton Hotel Partners sold the property to Ashford Hospitality Trust, a Dallas-based hotel REIT, which plans additional renovations.

Read more at Realty News Report.

Plano-based firm looking to hire 400 companywide 

(7/28/2014)

PLANO - Tyler Technologies Inc. expects to hire almost 400 people this year, including about 95 in Plano.

The company, which contracts exclusively with the public sector, added about 50 positions in Plano during first half 2014, which were part of 162 positions added companywide.

About 225 more new positions are expected to be added by Tyler Technologies for second half 2014. Of these 225, 45 will be hired in Plano and will be mainly software engineering and project manager positions.

Tyler Technologies was also looking to add positions in Lubbock, Georgia and Maine.

The company recently reported second quarter 2014 net income of $14.7 million and revenue of $124.4 million.

Read more at the Dallas Morning News.

PSW Homes thinks small, urban housing in older Dallas 

(7/28/2014)

DALLAS - An Austin-based home builder that’s expanding to the Dallas area is kicking off construction on its first five projects.

PSW Homes is building new communities which will focus on being smaller, more affordable homes in older Dallas neighborhoods.

PSW is building two neighborhoods in North Oak Cliff and two more near White Rock Lake.

The home builder has a building site in North Dallas.

PSW’s single-family homes will range in size from 1,700 to 2,700 sf and have three and four bedrooms. Prices start near $350,000 and rise to over $500,000.

Read more at the Dallas Morning News.

Legacy Preparatory acquires 55,000-SF Plano furniture store 

(7/25/2014)

PLANO - A North Texas-based charter school, Legacy Preparatory Charter Academy, has purchased a 54,558-sf former Havertys furniture store at 601 Accent Dr.

This is Legacy Preparatory's first Plano location. The store will be located near Collin Creek Mall.

According to the Collin Central Appraisal District, the property is valued at nearly $3.4 million.

Read more at the Dallas Business Journal.

Canadian buyer purchases 1700 Pacific Dallas skyscraper 

(7/25/2014)

DALLAS - Montreal-based Olymbec Group has acquired the 49-story, 1.3 million-sf 1700 Pacific tower at Pacific Ave. and St. Paul St.

The tower is more than 40 percent leased and major business tenants in the tower include Akin Gump Strauss Hauer & Feld LLP, Neiman Marcus, Mary Crowley Medical Research Center and Southcross Energy.

Built in 1983, 1700 Pacific is across the street from the site of the planned Pacific Plaza park.

Read more at the Dallas Morning News.

CityLine Whole Foods Market will open in Richardson in 2016 

(7/25/2014)

RICHARDSON - Whole Foods Market has confirmed a 40,000-sf store will open in the big CityLine development at Plano Rd. and Renner Rd.

The supermarket will anchor a 66,000-sf retail strip located on 8.5 acres in developer KDC’s project.

The $1.5 billion CityLine project includes State Farm Insurance’s regional office campus and an office complex for Raytheon Co.

The new Whole Foods Richardson store will open in spring 2016.

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

$1.3B Dallas' Parkland Hospital May 2015 finish line 

(7/24/2014 8:08:00 AM)

DALLAS - Construction on the new 2.1 million-sf Parkland Memorial Hospital is nearly complete. The $1.3 billion public hospital is 98 percent done and is finishing about two weeks ahead of time.

The new hospital will have 23 operating rooms, five more than the current facility.

If the 865-bed facility stays on schedule, it will open next May. Between now and then, equipment will be installed, all processes will be tested, and the staff will be trained to use the new building.

The hospital will move only its inpatients across Harry Hines Blvd. next spring. Other than the emergency department, all outpatient clinics and administrative offices will remain on the current hospital campus.

In addition, a medical-surgical outpatient clinic is expected to open on the new campus next year.

The hospital is expected to be complete by May 2015.

Read more at the Dallas Morning News.

240,000-SF Kohl's Dallas operations center set to open 

(7/24/2014 8:00:00 AM)

DALLAS - Kohl’s Department Stores will be opening its three-story 240,000-sf customer service operations center on July 29. It is expected to create more than 1,500 full-time and part-time jobs within the next four years.

The two-building facility at 17657 Waterview Pkwy. will be used to support the Kohl’s Charge payment program and Kohls.com.

The other sites that will serve Kohl’s Charge and Kohls.com customers are located in San Antonio and Menomonee Falls, Wisconsin.

Read more at the Dallas Business Journal.

DFW August home foreclosure filings down 50 percent 

(7/24/2014 7:49:00 AM)

DALLAS-FORT WORTH - Dallas-Fort Worth home foreclosure filings for August are the highest in three months, but are still down more than 50 percent from 2013, according to data from Foreclosure Listing Service.

Lenders have scheduled 1,480 DFW homes for August’s foreclosure auctions, which is a 52 percent reduction from August 2013 totals.

The largest declines are in Denton County (down 58 percent from 2013) and Tarrant County (down 54 percent).

Collin and Dallas County foreclosure postings are 50 percent less than in August 2013, according to the Addison-based foreclosure tracking firm.

So far in 2014, foreclosure filings in the four-county area are almost 40 percent less than in the first eight months of 2013 and substantially less than in 2010, when almost 64,000 North Texas homes were posted for foreclosure.

Read more at the Dallas Morning News.

Omnitracs' fleet will move from San Diego to Dallas 

(7/23/2014)

DALLAS - Omnitracs LLC will relocate its headquarters from San Diego to Dallas, creating 450 jobs and $10 million in capital investment.

The fleet management software company will move into KPMG Centre downtown. Active Network, another California-based firm, will be joining Omnitracs in the downtown building.

The Texas Enterprise Fund is providing a $3.9 million incentive to attract Omnitracs to the Dallas-area. The new headquarters will house jobs in engineering, research and development and finance.

Omnitracs services include software applications, GPS fleet tracking, platforms and information services.

Read more at the Dallas Business Journal and GlobeSt.

Bottle Rocket shoots to new Addison HQ 

(7/23/2014)

ADDISON - Bottle Rocket is expanding to a new Addison location by leasing 49,570 sf in the Aberdeen building located at 14841 Dallas Pkwy.

The mobile software application developer will house its new headquarters in the former head offices of Pizza Hut. The company will move from the nearby Wellington Centre building, where it leased 15,000 sf in 2011, by the end of this year.

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

656-Unit Honey Creek buzzes North Dallas sale 

(7/22/2014 10:00:00 AM)

DALLAS - Drever Capital Management has sold Honey Creek, a 656-unit workforce housing community in North Dallas, after a $3.7 million, seven-year redesign and repositioning that saw the occupancy rise from 80 percent to 94 percent.

The three-story, 22-acre multifamily community was acquired by B.H. Management. By transforming the Class C property to a Class B property, Drever Capital was able to generate a healthy amount of attention from across the nation.

Honey Creek, which sits at 11611 Ferguson Rd. off I-635, was purchased by Drever in 2007.

A new children’s playscape was installed, the leasing office and clubroom were modernized, a resident computer equipped business center was added, along with a new camera-equipped security system, privacy access gates, and reserved parking.

Honey Creek primarily serves families with workforce incomes.

Read more at GlobeSt. and the Dallas Business Journal.

NTREIS: DFW home sales by units sold June 2014 

(7/22/2014 7:01:00 AM)

DALLAS-FORT WORTH - North Texas Real Estate Information Systems (NTREIS) released home sales facts for June 2014.
Some quick facts include:

• The median price of existing single-family homes increased to $190,150 up 5.6 percent vs. May 2014.
• Existing single-family home sales increased 0.8 percent from May 2014 for a June 2014 total of 8,073 sold units.
• Condos decreased in price to $157,150 down 0.2 percent vs. May 2014.
• Existing condo sales decreased 0.5 percent in June 2014 over May 2014 for a total of 556 sold units.

Select region cities are represented below along with statistics from the NTREIS area as a whole.

NTREIS June 2014 Regional Sales and Price Activity
MLS Wide Median Price
  June 2014
Price Chg.
vs. June 2013
Units Sold
  June 2014
Sales Chg.
vs. June 2013
NTREIS
(single-family)
$190,150 5.9% 8,073 -2.0%
NTREIS (condo) $157,150 1.4% 556 16.3%
Region Cities*        
Fort Worth $164,900 14.2% 918 -1.7%
Dallas $287,000 4.7% 770 -13.3%
Arlington $151,000 7.9% 358 14.7%
Frisco $307,000 9.1% 335 2.1%
Plano $275,000 3.4% 324 -6.9%
McKinney $260,000 6.1% 240 -2.0%
Garland $140,000 10.7% 172 -12.7%
Abilene $142,000 6.0% 157 16.3%
Flower Mound $308,200 8.7% 148 12.1%
Denton $179,900 9.7% 145 -1.4%
Allen $265,000 8.4% 141  -16.6%

*Region Cities' data include single-family only and represent 11 select cities sorted by units sold.

See Housing under Dallas-Fort Worth-Arlington Market Data Sources or see the full report from North Texas Real Estate Information Systems.

Key starts 232,000 SF lease in Flower Mound 

(7/22/2014)

FLOWER MOUND - Keystone Automotive Operations has leased 231,754 sf at 351 Lakeside Pkwy.

Keystone Automotive will occupy all of Lakeside 1, a single-tenant industrial building that was constructed in May 2014.

Keystone Automotive Operations started as a distribution center for other enthusiasts and small local repair shops in Pennsylvania. In 1971, the business evolved into Keystone Automotive Operations. The company now has 25 locations across the United States.

Read more at CoStar Group.

Walton purchases Fort Worth land for 1,100-home community 

(7/22/2014)

FORT WORTH - Walton Group of Cos. has purchased 268 acres recently opened by the Chisholm Trail Pkwy. to develop a 1,100-home master-planned community which will include commercial real estate.

In June, Walton Group purchased 1,775 acres in Fort Worth from the Texas General Land Office in Tarrant County for a development project off Chisholm Trail Pkwy.

The two land purchases are in close proximity and will be sharing development resources.

Walton is working with Crowley ISD on a planned elementary school site for the first phase of the community's development.

Home lots for the community are expected to begin delivering by the end of 2015.

Read more at the Dallas Business Journal.

Frisco dealership purchased by Florida-based auto group 

(7/22/2014)

FRISCO - Orlando-based Greenway Auto Group has purchased Toyota dealer Pat Lobb’s 50,000-sf Chrysler-Jeep-Dodge-Ram store.

The Frisco dealership was opened about 15 months ago.

The dealership off of SH 121, called Frisco Chrysler Dodge Jeep Ram, kept “90 to 95 percent” of the employees and is “running at full speed," according to an operating partner at Greenway Auto Group.

In 2013, the dealership sold 909 vehicles.

Read more at the Dallas Morning News.

Elan Oaks assisted-living facility budding in Flower Mound 

(7/22/2014)

FLOWER MOUND - The 82-unit Elan Oaks is well underway. The assisted-living and memory care facility is located at 3281 Long Prairie Rd.

When open, the property will feature 58 studio, one-bedroom, and two-bedroom assisted-living apartments as well as 24 private and semi-private memory care suites.

Elan Oaks is expected to create more than 100 new jobs once completed.

The facility marks the first project of a property portfolio that StoneCreek Real Estate Partners has under development.

Read more at the Fort Worth Business Press.

FedEx's consolidating HQ ship with 265,000 SF in Plano 

(7/21/2014 10:00:00 AM)

PLANO - FedEx Office & Print Services Inc. has broken ground on its 265,000-sf corporate campus, which will consolidate its North Texas operations.

The Dallas-based company, a subsidiary of Memphis-based FedEx Corp., will sit on former J.C. Penney Co. land in West Plano.

The campus will consolidate FedEx Office's 310,000-sf footprint that's spread between its Dallas headquarters and Plano support office.

The company will vacate about eight floors at Three Galleria Tower at 13155 Noel Rd. upon its move into the new headquarters, which will be completed at the end of 2015.

Read more at the Dallas Business Journal.

Lewisville Lake Vista Pointe is $28M buy update 

(7/21/2014)

LEWISVILLE - The 163,000-sf Lake Vista Pointe office property has been purchased for $28.4 million by City Office REIT Inc. The office is fully leased to Ally Financial Inc. through 2021. Previously, the property was previously under contract.

Located in a Lewisville business park, the complex is situated in close proximity to the Dallas-Fort Worth International Airport and three of Dallas' major highway systems including the Sam Rayburn Tollway (SH 121), I-35 and Texas State Hwy. 114.

Read more at PRNewswire. Listen to Podcast 220 for more Small Towns, Big Deals.

PMRG: Dallas office market 2Q 2014 

(7/18/2014 7:00:00 AM)

DALLAS-FORT WORTH - DFW’s office market recorded 460,495 sf of direct net absorption during second quarter 2014, bringing the trailing 12-month total to 3.2 million sf. PM Realty Group released the report.

As overall occupancy rates have reached an 11-year high, numerous speculative construction projects have kicked off across the Metroplex, which will provide an abundance of new, high-quality space options for tenants as the local economy continues to expand at a healthy pace.

The office construction pipeline has skyrocketed by 309 percent within the past year to over 5.4 million sf under construction, with roughly 70 percent of the new space already preleased.

Largest Submarkets Ranked by Total SF
Submarket Inventory
SF (Total)
Direct SF
Available
Occ. Under
Construction
Class A
Asking Rent
(per SF)
Class B
Asking Rent
(per SF)
Las Colinas 27,873,400 5,904,699 82.6% 782,009 $24.70 $19.43
Dallas CBD 27,430,142 8,731,406 72.6% 450,000 $22.49 $17.77
Quorum / Bent  Tree 18,944,792 3,643,738 82.9% 120,000 $24.82 $17.51
East LBJ        15,812,405 4,598,874 74.6% 0 $21.69 $17.05
Upper Tollway / West Plano 14,667,318 1,870,518 87.6% 746,816 $30.26 $24.36
Richardson 12,551,989 2,407,346 88.4% 1,500,000 $21.68 $17.49
Central Expy. 11,467,136 2,683,069 80.9% 149,510 $23.77 $18.96
Total* 218,295,796 45,844,093 81.9% 5,404,959 $24.32 $18.37

*Includes all DFW submarkets.

Source: PM Realty Group

Read more at PM Realty Group. For the full report and similar reports, see Office under DFW Market Data Sources.

DFW apartment stats 2Q 2014: Hendricks-Berkadia 

(7/18/2014 6:30:00 AM)

DALLAS-FORT WORTH - Apartment demand was healthy in the first two quarters 2014, despite a 12.1 percent decrease in leasing activity compared to the first half 2013. Renters occupied 7,250 additional units since the beginning of 2014.

Asking rents advanced 2.4 percent year over year to $950 per month 2Q 2014.

Class A asking rents rose modestly, increasing 0.3 percent to $1,385 per month. Average rent at Class B/C communities appreciated 2.9 percent.

Through mid-2014, completions were 20.9 percent greater than in the first half of 2013. Builders delivered 6,200 apartments year to date, of which 3,330 apartments came online in second quarter. Deliveries averaged 8,610 units annually during the last five years.

DFW Multifamily 2Q 2014 / 2Q 2013 Comparison by Vacancy
Submarkets* Vacancy Average Rent
2Q 2014 2Q 2013 2Q 2014 2Q 2013
Ellis County 1.2% 4.4% $914 $858
Grand Prairie 3.6% 5.8% $760 $720
Far Northwest/Farmers Branch 3.9% 4.4% $895 $875
Garland 3.9% 4.2% $818 $778
Hunt County 4.0% 5.0% $677 $677
Hurst/Bedford/Euless 4.2% 4.6% $843 $822
Richardson 4.2% 4.1% $1,010 $974
Southeast Fort Worth 4.2% 4.1% $875 $832
Far North Dallas 4.4% 4.9% $915 $878
Plano/Allen/McKinney 4.6% 4.5% $1,056 $1,018
Northwest Fort Worth 4.6% 5.4% $1,085 $1,064
Market total** 5.3% 5.5% $950 $929

*Chart represents top 11 submarkets ranked by lowest vacancy.
**Total includes all submarkets within DFW.

View the full report at Hendricks-Berkadia. For more stats, see Multifamily under DFW Market Data Sources.

National Powersport Auctions remains in Carrollton 

(7/18/2014)

CARROLLTON - National Powersport Auctions (NPA) will remain in its current location after signing a lease renewal for 107,500 sf at 1809 W. Frankford Rd.

The Class A industrial building, named the Frankford Interchange, was built in 1997 on slightly more than 21 acres.

The 380,000-sf building has 59 loading docks, four grade-level doors and offers a 28-foot clear height.

Read more at CoStar Group.

Arlington $16M Texas Rehabilitation Hospital going up 

(7/17/2014)

ARLINGTON - Sanders Trust has started work on the $16 million, 48,000-sf Texas Rehabilitation Hospital just off of I-20 near The Parks at Arlington.

The 40-bed hospital will serve patients who require rehabilitation following a stroke, traumatic brain injury, spinal cord injury or similar medical conditions.

The medical building is set to open summer 2015.

Read more at the Dallas Morning News.

Dallas: 102-unit Aura on McKinney coming to Fitzhugh Ave. 

(7/17/2014)

DALLAS - Trinsic Residential Group has completed its purchase of a key development site near Highland Park. The company purchased the former Hope Cottage building and parking lot at McKinney Ave. and Fitzhugh Ave.

The developer plans to build a six-story, 192-unit luxury rental community on the 1.7-acre site, which is just west of North Central Expressway.

Hope Cottage, Dallas’ oldest non-profit organization, sold the two-story commercial building and is relocating to a new office and family services building at the corner of Texas St. and Florence St., near downtown.

Read more at the Dallas Morning News.

State Farm doubles DFW employment base to 5,000 

(7/17/2014)

DALLAS-FORT WORTH - State Farm has doubled its North Texas employment base to 5,000 in the past year and expects to hire 8,000 more when its regional hub opens up in Richardson.

The Bloomington, Illinois-based insurance company’s employees will span 2 million sf in four office towers at the $1.5 billion CityLine development.

State Farm has held numerous job fairs to recruit DFW employees.

State Farm plans to begin moving its employees into the new CityLine regional campus in early 2015.

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

Hard Rock to diamond with One Dallas 20-story highrise 

(7/16/2014 6:30:00 AM)

DALLAS - Construction is set to begin next week on the 20-story building on the former site of the Hard Rock Cafe on McKinney Ave. at Routh St. The Class A One Dallas tower will contain about 200 apartments plus extensive retail on the first two floors.

The Uptown Dallas development will feature six levels of underground parking, charging stations for electric vehicles and rooftop pool.

Dallas’ Cheng Investments and Stoneleigh  Cos are building the project, which will host its groundbreaking on July 23.

The project is expected to be completed in March 2016. The One Dallas tower will be constructed across the street from where Gables Residential is building a Whole Foods Market with apartments built above the grocery store.

Read more at the Dallas Morning News.

Burleson Sam's Club opens 136,000 SF 

(7/16/2014)

BURLESON - Sam’s Club has opened a 136,000-sf store at 600 N. Burleson Blvd.

The warehouse club a fresh bakery, tire and battery center, cafe and fuel station, as well as a host of other special members-only values. Members can also receive free vision and eye screenings or oven-ready dishes and groceries.

The store has 197 employees, 25 of which are new hires. Most of the employees are those who came from the now-closed Sam's Club on Campus Dr. in Fort Worth.

Read more at the Burleson Star.

Plano: Heartland leases 82,000 SF in Granite Park IV 

(7/16/2014)

PLANO - Heartland Payment Systems Inc. has signed a lease for 81,675 sf for three floors in the newly completed 12-story office tower at the Sam Rayburn Tollway and the Dallas North Tollway.

Heartland will bring 375 employees to Granite Park IV from its current 6860 Dallas Pkwy. Plano location, which houses a corporate information technology department.

The Princeton, New Jersey-based company’s lease is the biggest lease to date at Granite Park IV office tower in northwest Plano.

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

DFW home lots deliver highest point since 2008 

(7/15/2014 10:00:00 AM)

DALLAS-FORT WORTH - According to a report by Metrostudy, North Texas' new home lot deliveries exceeded the new home starts pace during second quarter 2014 for the first time since early 2008.

"Lot development activity has lagged new home starts in Dallas-Fort Worth since inventory hit a peak of over 90,000 lots in March 2008," David Brown, regional director of Metrostudy's Dallas office, reported.

"The most active submarkets in Dallas-Fort Worth that account for 75 percent of the new home demand only have a 14.6 month supply, which is well below the 20 to 24 months considered to be equilibrium," Brown added.

The demand for housing in the region increases as more and more companies expand and relocate into the DFW area.

In the DFW area, the median price of a new home rose 24 percent over the past three years to $269,400 in 2014 and 25 percent of new home closings in 2Q 2014 were under $200,000, which is a 40 percent increase since 2011.

Read more at the Dallas Business Journal.

Coppell: Duke 'puts up' 270,000-SF Point West VIII 

(7/15/2014 7:15:00 AM)

COPPELL - The 270,498-sf Point West VIII industrial building is being built in the Point West business park. The project, led by developer Duke Realty Corp., is located north of I-635 near Dallas-Fort Worth International Airport.

Duke has already leased 127,189 sf in the building. It is 47 percent preleased to Insight Merchandising.

Duke Realty's entire 15 million-sf Dallas portfolio is 97.7 percent occupied.

The Point West VIII building is scheduled to open early 2015.

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

Irving thanks heaven for 7-Eleven HQ 

(7/15/2014)

IRVING - Construction has kicked off on 7-Eleven Inc.’s 325,000-sf headquarters campus on I-635 at Belt Line Rd. The four-story office campus Billingsley Co. is building will have two connected buildings plus a parking garage on the north side of I-635.

The same development for the retailer’s new headquarters will house Nationstar Mortgage and Cheddar’s Fast Casual Café headquarters.

Other companies moving into the area include Envoy Air Inc., which is moving its operations from Fort Worth to two buildings on Regent Blvd., just south of I-635.

According to estimates by Cushman & Wakefield, Irving currently has 725,000 sf of office space under construction and 18 percent of the city’s office space is empty.

The project that will house 7-Eleven will be ready in fall 2015.

Read more at the Dallas Morning News. See previous story 300,000-SF Big Gulp swallow for Irving,

Far North Dallas: 310-unit VV&M rental community opens 

(7/15/2014)

DALLAS - A 310-unit, four-story apartment community in Far North Dallas, called VV&M, has just opened at 5225 Verde Valley Ln. and Montfort.

The property developed by Criterion Property Co. is just south of the Village on the Parkway shopping center.

VV&M has a variety of studios, one-, two- and three-bedroom apartments.

Studio floor plans range from $1,050 to $1,295, one-bedroom plans range from $1,050 to $1,480, two-bedroom plans range from $1,655 to $2,005 and three-bedroom plans range from $2,475 to $3,035.

Read more at the Dallas Morning News.

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