NewsTalk Texas

Dallas-Fort Worth-Arlington

Census: Fort Worth fastest growing city in U.S. 

(12/18/2014 8:00:00 AM)

FORT WORTH - Fort Worth came in as the top big city in the nation for population growth between 2000 and 2013, boasting a 42.3 percent increase, according to the U.S. Census Bureau.

It dwarfed Austin, which came in third, by nearly 15 percent, and had more than double the gain of San Antonio, which came in fourth. Dallas took 24th with 2.8 percent.

The data shows a mass migration to Texas and North Texas specifically.

The region is an attractive job hub, being home to 18 Fortune 500 companies across a variety of sectors. Toyota's move is expected to bring and hire more than 3,000 workers.

"Dallas and Fort Worth have been leaders in the job gain category," said KC Sanjay, a senior real estate economist with Axiometrics. "Where there are jobs, naturally you pull in people from all over."

Most of those packing their bags for DFW are from California, according to Chuck Ehmann, a real estate economist with Axiometrics. Omnitracs and Active Networks, both headquartered in San Diego, have announced moves to Dallas.

Companies and individuals are also migrating from Florida and the Midwest.

When they arrive in North Texas, most migrants ages 36 and older are settling in suburbs to take advantage of better school districts. However, ages 22 to 35 tend to settle closer to the cities' urban cores, such as in Dallas' downtown and Oak Lawn neighborhoods, to be closer to work.

Read more at the Dallas Business Journal.

Tag: Texas housing

North Texas home sales Nov. 2014 


DALLAS-FORT WORTH - North Texas Real Estate Information Systems has released home sales facts for November 2014. Below is a snippet of cities that you might want to see. There's more at the link below!

•  The median price of existing single-family homes increased to $184,900, up 2.8 percent from October 2014.
•  Existing single-family home sales decreased 27.8 percent from October, with 4,970 units sold.
•  Condos decreased in price to $147,900, down 1.3 percent from October 2014.
•  Existing condo sales decreased 30 percent in November, with 333 sold units.

Dallas-Fort Worth Region Sales and Price Activity by Units Sold
MLS Wide Median Price
  Nov. 2014
Price Chg.
Nov. 2013
Units Sold
Nov. 2014 
Sale Chg.
Nov. 2013
NTREIS* (single-family) $184,900 12.1% 4,970 -8.9%
NTREIS(condo) $147,900 -1.3% 333 1.8%
Region Cities**        
Fort Worth $165,000 13.8% 582 -7.6%
Dallas $265,000 17.3% 492 -8.9%
Arlington $142,450 11.9% 214 -7.0%
Plano $275,000 19.6% 214 -1.4%
Frisco $300,000 3.8% 151 -1.9%
Garland $139,500 12.5% 131 -4.4%
Grand Prairie $163,000 22.6% 107 8.1%

*North Texas Real Estate Information Systems
**Data include single-family only and represent select region cities that sold at least 100 units during November 2014.

See the full report from NTREIS.

tag: Dallas-Fort Worth data, housing, apartment

$82M Renaissance Hotel presence to Plano's Legacy 

(12/17/2014 10:00:00 AM)

PLANO - A 300-room high-rise hotel is coming to Plano’s Legacy West development.

The City of Plano has approved incentives for the construction of the $82 million Renaissance Hotel project, which will be built in the new Legacy West development on the Dallas North Tollway.

The hotel project has the backing of the family that owns the hugely successful Sam Moon retail firm. The project will also include 26,200 sf of conference space.

Plano City Council approved a $4 million economic grant to support the new hotel which is to be located in the same area where Toyota is building its new North American headquarters.

The hotel is part of the 240-acre Legacy West development which will kick off in February with the construction of retail, apartments and office space.

The Renaissance will be the second new full-service hotel planned for West Plano.

In August a 299-room Hilton opened in the Granite Park project at the southeast corner of the Dallas North Tollway and SH 121.

Read more at the Dallas Morning News.

West Plano Village people coming 

(12/17/2014 8:15:00 AM)

PLANO - West Plano Village is expected to see its first residents in February 2015, followed by shoppers in spring 2015.

The mixed-use development will ultimately be comprised of 90,000 sf of retail, 60,000 sf of office and 264 apartment units. The project is along the Dallas North Tollway and Parker Rd.

The development is anchored by the European-style eatZi’s restaurant that opened in 2013, and is complemented by shadow anchor Cinemark West Plano.

The list of restaurants includes Princi Italia, Pakpao, Mi Dia from Scratch and Kona Grill.

With the residential portion of the development opening first, preleasing began in October.

Read more at Community Impact Newspaper.

Wichita Fall's United Regional to undergo $28M expansion 

(12/17/2014 8:13:00 AM)

WICHITA FALLS - United Regional Health Care System will undergo a $27.7 million renovation and expansion at the emergency department at 1617 Eleventh St.

The renovation includes upgrading 20,200 sf and adding another 25,670 sf. The project is expected to be completed in 2016.

United Regional is the region’s largest health care provider and delivers comprehensive medical care to a nine-county service area.

The care provider was named one of Truven’s Top 100 Hospitals in 2013 and 2014 and was awarded Truven’s Everest Award for performance improvement in 2013 and 2014.

United Regional has the area’s only Level II Trauma Center and Primary Stroke Center. With 350 beds, it is the only full-service hospital for the Wichita Falls community of 100,000 people.

The nonprofit hospital delivers $23.5 million in charity care annually.

Read more at the Fort Worth Business Press and Citybizlist.

Dallas 2015: retail plus 182-unit Knox Heights planned 


DALLAS - A six-story mixed-use project in Dallas’ Knox St. neighborhood is planned by Trammell Crow Co. and Northwestern Mutual Real Estate.

The project, called Knox Heights, will include 182 apartments and ground floor retail space. The development site is now occupied by old apartments and commercial buildings.

Construction will start on the project in 2015, which is located on McKinney Ave., just north of Knox St.

Crow’s project is in the same neighborhood where Sarofim Realty Advisors and Lincoln Property are building their new retail and apartment building.

It’s also just around the corner from construction of Mill Creek Residential Trust’s 208-unit, six-story apartment building.

Read more at the Dallas Morning News.

Harbor docks 3,100 units in DFW, Houston 


DALLAS-FORT WORTH - Harbor Group International, a Virginia-based real estate investment firm, has purchased ten North Texas properties as part of a larger 12-property buy.

The acquisition also includes two properties in Houston and totals 3,100 units. The new owner plans to spend $10 million to upgrade the apartments.

Below are the properties purchased in Dallas-Fort Worth, their addresses, and the amount financed for each property (if applicable):

•  330-unit Abbey at Vista Ridge — 4747 N. Josey Lane (Carrollton)
•  364-unit Carrington Park — 3001 Communication Pky. (Plano), $36.3 million
•  180-unit Fieldcrest — 350 E. Vista Ridge Mall Dr. (Lewisville)
•  216-unit Fossil Hill — 5700 N. Beach St. (Fort Worth), $12 million
•  320-unit Sunset Oaks — 3550 Timberglen Rd. (Dallas), $19.7 million
•  216-unit Tall Timbers — 501 Sycamore Ln. (Euless), $3.4 million
•  238-unit Briarcrest — 1330 MacArthur Dr. (Carrollton), $17.2 million
•  224-unit Huntington Glen — 2900 Harwood Rd. (Bedford), $11.3 million
•  244-unit Villas at Waterchase — 165 N. Old Orchard Ln. (Lewisville), $4 million

The apartment communities were acquired from Canada-based England Group.

Read more at CoStar Group, Dallas Morning News and the Dallas Business Journal.

tag: Texas apartments

Frisco boom largest in North Texas 


FRISCO - With more than $5 billion in developments in the works, Frisco is arguably the most dynamic real estate market in Texas.

Ahead of Uptown, Plano, Richardson — Frisco has more huge developments these days than any other property market. Even if only half of them get built, the one-time railroad town will be ground zero for the biggest commercial real estate boom ever in North Texas.

“Just about every tract of land from SH 121 to Main St. along the Dallas North Tollway (DNT) is having plans made or is under development,” said Jim Gandy, CEO of the Frisco Economic Development Corp.

Hillwood Properties, VanTrust Real Estate and the Rudman Partnership are teaming up to build Frisco Station surrounding the Dallas Cowboys’ new headquarters at the DNT and Warren Pkwy.

The Cowboys’ 91-acre Star mixed-use project is already under construction next door to Frisco Station.

Thomas Land & Development is building its $1.6 billion Wade Park mixed-use complex on 175 just across the DNT on Lebanon Rd.

If you had to pick a point in time when the game changed for Frisco, it would be back in 1996, when developer General Growth Properties bought 130 acres at the northwest corner of Preston Rd. and SH 121 for a new shopping mall.

Some 18 years later, there is now 4.5 million sf of retail space within a mile of Frisco’s Stonebriar Center mall.

The other real estate milestone came in 1997, when developer Craig Hall broke ground on his 162-acre Frisco office park. Hall Office Park now has 2.2 million sf of office space that houses 180 companies with some 8,000 workers.

Hall Financial just finished its 16th building in the Frisco office park.

Read more at the Dallas Morning News.

For more on what is happening in Frisco, check out other stories from NewsTalk Texas.

MPF highlights DFW multifamily 3Q 2014 


DALLAS-FORT WORTH - Apartment completions have picked up significantly in DFW, but substantial growth in the economy and other drivers have spurred absorption enough to mute the effect of the elevated supply, according to the latest report from MPF Research.

Demand for new lease-ups has been strong, and middle-market demand remains strong as well.

Such demand has prevented significant occupancy declines, giving apartment operators confidence to continue pushing rents. In particular, middle- and lower-tier market segments in the Dallas metro have exceeded rent growth expectations.

What changed this quarter? Strong apartment absorption outpaced high levels of new supply. In turn, occupancy rose to 94.7 percent, a 13-year high for the region. Meanwhile, same-store rental rates jumped 1.4 percent quarter-over-quarter.

3Q 2014 DFW Apartment Trends*
Effective Rent Occupancy Annual Job Change Annual Permits Annual Demand Annual Completions
$903 94.7% 101,500 jobs 19,540 units 15,961 units 16,193 units

*Properties sampled 2,552; Units sampled 567,123; Submarkets 36

Find the report at MPF Research. Be sure to check out the Submarket Map with Zip Codes.

tag: Dallas-Fort Worth apartment

Allen's 70,000-SF Cornerstone Crossing sells 


ALLEN - The 70,145-sf Cornerstone Crossing at 1300 N. Central Expy. has been sold. The 14-year-old building sits on 5.5. acres at the corner of N. Central Expy. and Exchange Pkwy.

The Class B building is 100 percent leased to tenants including Amphenol Fiber Systems and Cosmic Jump.

Austin-based Davis/Parmer Investments L.P. purchased the office and warehouse building from Cornerstone Crossing TIC Owners.

Read more at the Dallas Business Journal and at Citybizlist.

Nurtur Health feels good with Farmers Branch office 


FARMERS BRANCH - Nurtur Health, Inc. has signed a 23,893-sf lease at 4001 McEwen Rd.

The 95,192-sf office building was constructed in 1981 in the West LBJ Fwy. submarket.

The building, along with 4101 and 4099 McEwen Rd., comprise the Centre Office Park campus, which is serviced by the DART bus and positioned 15 minutes from DFW Airport.

Read more at CoStar Group.

Dallas: Turtle Creek's 380,000-SF project next to Mansion 

(12/15/2014 6:42:00 AM)

DALLAS - Prescott Group has purchased a 5.5-acre property next door to the Mansion on Turtle Creek where it plans to build a 14-story, 380,000-sf office and retail project.

The development — called 2727 Turtle Creek — is just the latest in a series of new deals in the Oak Lawn market.

The new owners will tear down an eight-story building constructed in the 1980s. A six-story office building that dates to the 1950s will be stripped back to the beams and included in the new construction.

A ground-floor restaurant space and conference center are planned, and the project will use the existing 1,100-space parking garage on the north side of the property.

Prescott plans to start construction next year and have the building ready by the end of 2016.

Read more at the Dallas Morning News.

For more on what's going on in the Oak Lawn market, check out other stories from NewsTalk Texas.

Frisco: $1 billion twinkles around Cowboy 'Star'  


FRISCO - A development team that includes the Perot family’s Hillwood Properties and auto sales giant Van Tuyl are joining forces to build Frisco Station, a more than $1 billion development.

The almost 250-acre project will wrap around the Dallas Cowboy’s new headquarters and retail complex under construction at the Dallas North Tollway and Warren Pkwy.

The overall project will have more than 4 million sf of office space, 2,400 apartments, shops, restaurants and civic facilities. A large greenbelt and park will cut through the middle of the community.

Jim Gandy, president of the Frisco Economic Development Corp., said the two projects together will ultimately employ almost 19,000 people.

Frisco Station will include a combination of corporate office towers, shopping and entertainment plazas, mid-rise apartments, medical facilities and other buildings that will surround the Cowboy’s new “Star” project on three sides.

Hillwood and the Van Tuyl family’s VanTrust Real Estate are partnering with the Rudman family, which has owned the site for more than 50 years.

Read more at the Dallas Morning News.

For more on the Dallas Cowboys' "Star" project, see previous story Cowboys score $115M Frisco facility.

Irving's Four Seasons spring to 'Well Being' in 185,000 SF 


IRVING - The Four Seasons Resort and Club in Dallas at Las Colinas plans to develop a $3.5 million sports facility and spa totaling 185,000 sf on the resort grounds in Irving.

The luxury fitness center and spa — dubbed Well & Being — will become the recreational centerpiece of the Las Colinas hotel, with workout classes and specialized spa concepts, including acupuncture, shiatsu and other healing therapies.

Construction is underway on the new facilities with its debut in late spring 2015.

Earlier this year, the 431-room resort and club sold for an estimated $150 million to Blackstone Real Estate Advisors after lenders foreclosed on the property. The previous owners defaulted on a $175 million loan on the hotel.

Read more at the Dallas Business Journal.

For more on the sale of the resort, see previous story Las Colinas' Four Seasons Resort sold for $150M.

311-Unit Union at Carrollton Square sold to Olympus 


CARROLLTON - Olympus Property has purchased the 311-unit Union at Carrollton Square in downtown.

The five-acre, transit-oriented project is adjacent to downtown Carrollton’s DART light rail station. It offers one- and two-bedroom units ranging from 580 sf to 1,182 sf.

Opened in 2013 and 2014, the project includes 4,700 sf of ground level retail space.

Olympus — which is based in North Texas and San Francisco — just bought the 440-unit Mosaic loft apartment project at Akard St. and Bryan St. in downtown Dallas. That project was expected to sell for near $80 million.

Founded in 1992, Olympus owns and manages more than 9,000 apartments in nine states.

Read more at the Dallas Morning News.

For more on the Mosaic loft purchase, see previous story Dallas' 440-unit Mosaic paints a new picture with sale.

tag: Dallas apartment, apartment

Arlington's Park Row East sells for $6 million 


ARLINGTON - The 205-unit Park Row East at 3201 E. Park Row Dr. has be sold to Darcorp Properties. Clear Real Estate and The PPA Group sold it for slightly more than $6.285 million, or approximately $31,000 per unit.

Built in 1972, the multifamily community is spread across 28 buildings in the Outer Arlington Multifamily submarket.


Dallas: 330-Unit Elan City Centre acquired 

(12/11/2014 7:28:00 AM)

DALLAS - Elan City Centre, a 330-unit, Class A multifamily community in North Dallas has been purchased. The buyer is Newport Beach, Calif., MIG Real Estate.

Elan City Centre consists of four three-story buildings with one- and two-bedroom floor plans, 12 townhome units and a two-story parking structure.

Elan City Centre is located at 13301 Galleria Place, with access to I-635, the Dallas North Tollway, President George Bush Turnpike and US 75.

The multifamily community is within walking distance of shopping, dining and entertainment venues within the nearby Galleria Mall. The neighboring Valley View Center, currently undergoing a major redevelopment, will provide a variety of additional venues.

Elan City Centre is the company’s sixth investment in Texas multifamily properties.


Canadian firm buys Dallas Turtle Creek land for tower 


DALLAS - Great Gulf Homes has purchased property on the west side of Fairmount St. at Turtle Creek Blvd. where it plans to build an apartment project.

The building site is located right across the street from where the Toronto-based firm intends to construct a 22-story, 60-unit condominium building at 2505 Turtle Creek Blvd.

Great Gulf is one of North America’s biggest builders of residential towers. The company has said it wants to do more than one project in the Dallas area.

Read more at the Dallas Morning News.

348,000-SF Mesquite Market East sells to Fidelis 

(12/10/2014 6:45:00 AM)

MESQUITE, FRISCO - Fidelis Realty Partners has purchased the Market East Shopping Center on Town East Blvd.

The property totals about 348,000 sf of retail and includes about 12 acres that the firm can develop.

Earlier this fall, the firm also bought Eldorado Marketplace in Frisco, a 163,000-sf shopping center in Frisco.

Fidelis now has about 50 retail centers in Texas, primarily in Houston.

Read more at the Dallas Business Journal.

For more on the Eldorado sale, see previous story Snapping up Frisco's 162,000-SF Eldorado Market Place.

$40M venue set for The Music Factory in Irving 


IRVING - Live Nation Entertainment Inc. is building a $40 million convertible concert venue at The Music Factory, which is under construction in the 300 block of W. Las Colinas Blvd. near the Irving Convention Center.

The development is being built in partnership with the Ark Group, which owns The Music Factory. Live Nation recently signed a ten-year agreement with the entertainment developer.

The venue, which converts easily from an intimate 4,000-seat concert hall to an 8,000-seat amphitheater, is being called the Pavilion at The Music Factory.

The ability to convert the facility into a heated and air-conditioned indoor theater into an open-air amphitheater within 30 minutes gives Live Nation the ability to showcase performers year round, according to Bob Roux, Live Nation's president of North American concerts.

Live Nation plans to hold 60 to 70 concert events at The Pavilion at The Music Factory each year. In addition to live concerts, Live Nation plans to work with The Ark Group to develop festivals on the 17-acre entertainment-anchored development.

The Pavilion at The Music Factory is scheduled to open on April 1, 2016. Live Nation plans to begin marketing shows at the concert venue in fall 2015.

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.
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Dallas 22-story Frost Tower thaws for spring opening 


DALLAS - Harwood International has topped out construction on Frost Tower, the 167,000-sf tower at the corner of McKinnon St. and Wolf St.

The 22-story office building is scheduled to open spring 2015.

Frost Tower is already fully leased to tenants including Frost Bank, Polsinelli, and Rochon Family Office.

Read more at the Dallas Morning News.
EZ find Texas real estate news

EnLink Midstream flows to 158,000-SF Dallas office 


DALLAS - EnLink Midstream has leased 157,658 sf at 1722 Routh St. in downtown. EnLink Midstream plans to relocate its corporate headquarters to the new location by summer 2016.

The firm was established through the merger of Crosstex Energy and the U.S. midstream assets of Devon Energy.

Also known as One Arts Plaza, the 18-story property is located in the Dallas Arts District and consists of 530,236 sf of retail and office space.

EnLink will occupy the former headquarters space of 7-Eleven, which will be relocating to a new office space in Cypress Waters.

Read more at CoStar Group.

For more on 7-Eleven’s move, see previous story Irving thanks heaven for 7-Eleven HQ.
EZ find Texas real estate news

Irving buy: Parc 114 near DFW airport 


IRVING - Houston-based developer Hines has purchased the 52-acre Parc 114 business park in partnership with AEW Capital Management.

Parc 114 includes six industrial buildings and more than 18 acres of development land at the north end of Dallas-Fort Worth International airport on Belt Line Rd.

“The tenant base in the project is unmatched and provides a foundation to expand the project with two additional buildings,” said Blake Kendrick, managing director for Stream Realty.

The two new buildings with 191,262 sf are scheduled to open in mid-2015.

The current buildings are fully leased to Chrysler Group LLC, Nautilus Hyosung America, Nissan and Walgreens.

Read more at Dallas Morning News

Being sold: Historic Hartford Building in Dallas 


DALLAS - Olympic Property Partners is acquiring the historic Hartford Building at Bryan St. and Harwood St.

The 14-story office tower — opened in 1959 — was the first downtown high-rise built by legendary developer Trammell Crow.

Olympic has plans to upgrade the office space in the property.

The old high-rise is just across the street from the One Dallas Center tower, which has been remodeled into first-class office space and apartments.

Read more at the Dallas Morning News.

CoStar: DFW retail construction 3Q 2014 

(12/9/2014 6:00:00 AM)

DALLAS-FORT WORTH - During third quarter 2014, 29 buildings totaling 576,007 sf were completed in the DFW retail market. Over the past four quarters, 2,769,129 sf of retail space has been built.

There was 4,059,413 sf of retail space under construction at the end of 3Q 2014.

Some of the notable 2014 deliveries include:

  • 8900 Tehama Ridge Pkwy., a 153,847-sf facility that delivered in 2Q 2014 and is now 100 percent occupied, and
  • 600 N. Burleson Blvd., a 136,000-sf building that delivered in 3Q 2014 and is now 100 percent occupied.

Total retail inventory in the Dallas-Fort Worth market area amounted to 386,412,942 sf in 27,414 buildings and 3,696 centers as of the end of the 3Q 2014.

This trend is compared to U.S. National Retail deliveries and construction, which saw 542 buildings totaling 13.9 million sf complete construction, with an additional 53.3 million sf of retail space still under construction at the end of 3Q 2014.

Read more at CoStar Group.
Texas real estate news

Trunk Club styling to 33,000-SF Dallas office in Deep Ellum 


DALLAS - Trunk Club has purchased the 32,382-sf building at 333 First Ave. in Deep Ellum.

The building, which was built in 1926, was recently remodeled into loft-style business space.

The five-year-old firm is an online company that provides men’s clothing and style advice to its customers. The Chicago-based company was purchased in August by Nordstrom in a deal valued at $350 million.

Trunk Club is also looking to buy a smaller adjacent property to add to its holdings on the block.

Read more at the Dallas Morning News.

North Texas housing: inventory down, prices up 


DALLAS-FORT WORTH - With the number of houses for sale in North Texas at the lowest level in more than a decade, prices jumped in November as demand for properties surpassed supply.

Median home prices in the area rose 12 percent from November 2013. It was the second-largest annual price increase in 2014.

Real estate agents sold 5,994 preowned single-family homes through their multiple listing service, according to data from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems.

November’s sales were down 1 percent from the same month last year.

So far in 2014, preowned home sales in North Texas are unchanged from a year ago and median prices are up 7 percent from the first 11 months of last year.

Annual home price gains are running more than twice the average rate of increase in this market.

“We are going to continue to see aggressive price increases,” said Dr. James Gaines, an economist with the Real Estate Center. “You do run the risk of having artificially high prices.”

In November, only 18,461 single-family homes were listed for sale with real estate agents — the fewest number of properties on the market in more than 15 years.

Only a 2.5-month supply of houses was available in North Texas. A six-month inventory is considered a normal market.

Read more at the Dallas Morning News.

For more on housing and other sectors, check out Dallas-Fort Worth-Arlington Market Data Sources.
Texas real estate news

PGA TOUR eagles 45,000-SF Southlake store 


SOUTHLAKE - PGA TOUR Superstore is opening its third North Texas location this month at 2241 E. Southlake Blvd. The 45,000-sf interactive store represents the company’s 22nd location and third in Texas.

The store will offer certified golf pros with personalized golf lessons, six swing simulators for lessons and custom club fittings, five performance practice bays with swing analysis, a 2,000-sf putting green, and golf and tennis apparel and equipment.

The Southlake opening follows new stores in Arizona and Florida and positions Dallas-Fort Worth as one of the company's top markets, Sullivan said.

PGA TOUR is owned and operated by Golf & Tennis Pro Shop Inc., owned by Arthur Blank, retired co-founder of The Home Depot and owner of the Atlanta Falcons and MLS Atlanta.

Read more at the Dallas Business Journal.
Texas real estate news

ProPac Marketing HQ, warehouse to Plano 

(12/8/2014 7:20:00 AM)

PLANO - MYCON General Contractors has broken ground on a new corporate headquarters for ProPac Marketing in Plano.

The design-assist project, located at 6220 Communications Pkwy., to the west of the Dallas North Tollway, will comprise 52,000 sf of flexible space, including 16,000 sf of finished office space and 36,000 sf of warehouse space.

Approximately 11,000 sf of the warehouse space will be available for other tenants, according to Charles Daigle, owner of ProPac Marketing.

The project is slated for completion in the summer of 2015.

SOURCE: Globe St.
Texas real estate news

$28M redevelopment of Park Cities YMCA 


DALLAS - Construction is scheduled to begin on the new $28 million Park Cities YMCA in April 2015, replacing the current 60-year-old facility at 6000 Preston Rd.

The new 58,000-sf complex, named the Moody Family YMCA in the Park Cities, will replace the current YMCA on the same tract. The expansion gives the YMCA room to add more exercise space, preschool classrooms, locker rooms and a lobby area.

The new development will also include an indoor therapy pool and an underground parking garage.

The Galveston-based Moody Family Foundation donated the $8 million for the new YMCA.

The project is expected for completion summer 2016.

Read more at the Dallas Business Journal.
Texas real estate news

Bedford Boys Ranch $3 million makeover for 68-acre park 


BEDFORD - A $3.2 million makeover of Boys Ranch Park is expected to change the look and feel of the city by reshaping the lake, building bridges and adding a disc golf course, among other improvements.

Construction will begin in January on the first phase of a master plan to transform the 68-acre park located at 2801 Forest Ridge Dr.

The park is an integral part of the Bedford Commons development, which will incorporate the library, Old Bedford School and the Boys Ranch, according to Mayor Jim Griffin.

Improvements in the first phase are funded by a $3.2 million bond package that voters approved in November 2013 and a $100,000 grant from the Texas Parks and Wildlife Department.

The improvements include dredging and reshaping the lake to make it more attractive to visitors; building a fishing pier; installing three steel bridges across a drainage channel to make it easier to get from one side of the park to another; and adding three pavilions, a disc golf course and a playground.

Other improvements include lighting, irrigation and water fountains. Later phases include improvements to the sports fields, the activity center and parking.

Read more at the Fort Worth Star-Telegram.
Texas real estate news

State Farm still there at 63,000-SF Allen office 


ALLEN - State Farm Mutual Automobile Insurance Co. has renewed a 62,791-sf lease at Allen Station.

The 220,326-sf Allen Station is located at 381 E. Exchange Pkwy. and was built in 2001.

State Farm has occupied the building since 2004.

Read more at Texas Real Estate Business.
Texas real estate news

Behringer pays $60M for 435-unit Lakewood Flats in Dallas 

(12/7/2014 3:00:00 PM)

DALLAS - The 435-unit Lakewood Flats apartment complex at 7425 La Vista Dr. has been sold for $60.5 million.

The property, which was constructed in 2013, contains approximately 339,000 net rentable sf.

The property has 318 one-bedroom apartments with an average size of 645 sf and 117 two-bedroom apartments with an average size of 1,141 sf.

Lakewood Flats is situated on a 13.5-acre site.

The community was approximately 97 percent leased as of October 7, 2014.

Behringer Harvard Opportunity REIT II Inc. purchased Lakewood Flats from an unaffiliated third party.

Read more at the U.S. Securities and Exchange Commission.

310,000-SF industrial bldg. sells for $17M in CentrePort 

(12/7/2014 8:00:00 AM)

FORT WORTH - A 310,000-sf industrial center at 14900 Trinity Blvd. within the Campus @ CentrePort has been sold for $16.7 million.

The property, which sits on 14.3 acres, is 100 percent leased to Pier 1 Imports. It was completed in 1994 and features 30-foot clear height, ESFR sprinkler system, 3.5 percent office finish and a cross-dock configuration with four points of ingress/egress off Trinity Blvd. and Frye Rd.

IDI Gazeley, a part of Brookfield Logistics, sold the property to Industrial Property Trust.

Read more at and SEC filings.
(Texas real estate news)

Fort Worth Neiman's to move to 500,000-SF Clearfork project 

(12/5/2014 11:00:00 AM)

FORT WORTH - Neiman Marcus, the Dallas-based luxury department store famous for its annual list of unique and ultra-expensive Christmas gifts, will anchor The Shops at Clearfork, a new open-air shopping center being built in the Edwards Ranch in southwest Fort Worth.

Simon, the nation’s largest owner of shopping malls, said it has partnered with Cassco Development Co. to develop the first phase of retail in the $300 million Clearfork development.

In addition to Neiman’s, the 500,000-sf shopping center will have about 100 high-end specialty stores, a premium luxury theater and restaurants.

The new Neiman Marcus will be a two-story, 90,000-sf store, about 25 percent smaller than its current location at Ridgmar Mall. Construction on the Clearfork location is scheduled to start next spring, with an opening in February 2017. Neiman’s Ridgmar store will then close and store employees will shift to the Clearfork location.

Clearfork is a 270-acre development on the Edwards Ranch, between Hulen St. and Bryant Irvin Rd. Shoppers will have access to The Shops at Clearfork from the Chisholm Trail Pkwy.

The Neiman Marcus store will face the Chisholm Trail Pkwy. just north of a new Forest Park Hospital.

Read more at the Fort Worth Star-Telegram. (Texas real estate news)

Forest Park Southlake ready to debut $20M MOB 


SOUTHLAKE - Only 18 months after its grand opening, Forest Park Medical Center Southlake (FPMCS) is preparing for the opening of its 82,000-sf Medical Office Building.

The $20 million, four-story building will have 30 tenants after it is completely leased out, with the first tenant moving in early 2015, according to Charles Nasem, CEO of FPMCS.

“The building will have some of our partner physicians in it, a spa-like women’s imagining center and an urgent care clinic,” Nasem said. “We are 50 percent leased right now.”

The office building is connected to the hospital on two levels and shares the four-level parking garage.

Nasem said the new building is a part of a master plan that was designed before the hospital was built.

“We have a master plan that doubles the size of the hospital,” he said. “That doesn’t necessarily mean we are doing that anytime soon. It’s just there for us when we do decide to expand so that everything will be strategically planned.”

This year, the hospital also created a Spine Care Institute, which consists of 12 physicians who specialize in spine, disc and nerve conditions.

Read more at Community Impact Newspaper.

$43M Mixed-use project to replace Arlington library 


ARLINGTON - Construction will begin summer 2015 on a $43 million, five-story mixed-use development where downtown Arlington’s Central Library has stood for four decades.

The project, 100 Center, will include 40,000 sf at street level for uses such as shops, offices and restaurants, as well as about 240 market-rate apartments wrapped around a parking garage.

City officials say they believe that 100 Center, expected to open east of City Hall in 2017, will be a centerpiece for downtown’s redevelopment potential and help bring even more vibrancy to the area.

Arlington, which will retain ownership of the library land, has approved a long-term ground lease and parking lease with the developers. Revenue from those leases will help offset a portion of the larger public library set to open north of City Hall in 2017.

The city has said it expects to receive about $4.2 million in lease revenue from the project. The ground lease starts at $60,000 a year, with regular increases and can be extended for up to 99 years.

Read more at the Fort Worth Star-Telegram.
(Texas real estate news)

Hotel ZaZa zooms to Frisco's Wade Park project 


FRISCO - Hotel ZaZa, a luxury lifestyle hotel, is planning its second Dallas-area location for the 175-acre Wade Park development.

Hotel ZaZa at Wade Park will feature about 175 guest rooms including ten signature suites, 10,000 sf of meeting and function space, a pool with bars and individual cabanas, and a chef-driven destination restaurant.

Known for its contemporary design and upscale amenities, Hotel ZaZa will be among the highlights of Thomas Land & Development’s $1.6 billion upscale mixed-use development, taking shape at the Dallas North Tollway and Lebanon Rd.

Thomas Land & Development will develop the new hotel, which is slated to open with the first phase of the development in the fall 2016.

The hotel also will have a 1,000-sf fitness center and a ZaSpa.

It will be the third Hotel ZaZa in Texas, joining locations in Uptown Dallas and in Houston. Hotel ZaZa also recently broke ground on a location in downtown Austin.

The new Hotel ZaZa will be positioned along the main street of Wade Park’s retail village, surrounded by 600,000 sf of high-end shopping, dining and entertainment.

The center also will feature 6 million sf of office space, as well as apartments, condominiums, and single-family homes supported by “numerous luxury amenities and concierge services,” the company said.

Read more at the Dallas Morning News.

For more on Hotel ZaZa's Austin location, see previous story Hotel ZaZa high-end apartments, hotel to downtown Austin.
Texas real estate news

Grenadier to bring 98 homes to Flower Mound 


FLOWER MOUND - Grenadier Homes has begun construction on a 24-acre master planned community near the corner of FM 3040 and Orchard Rd.

The Dallas-based home builder will build 98 single-family homes on the tract.

Grenadier Homes will market the development to "mature homeowners" who want to live in a "walkable, gated community," co-founder and President Anthony Natale said.

The homes will feature large back porches and patios ideal for residents to spend time outdoors without the burden of a lot of yard work. The development's homeowners association will take care of the trimming, edging and weeding of the yards.

The Dallas-Fort Worth housing market has been hot lately, with home prices continuing to outpace the rest of the United States. In October, Dallas area home prices rose 9.1 percent year-over-year.

That has a number of developers and home builders looking to bring more homes into the market to meet the increasing demand for new homes.

Read more at the Dallas Business Journal.
Texas real estate news

Arlington Park Row East apartments sold 


ARLINGTON - Park Row East, a 205-unit apartment complex located at 3201 E. Park Row Dr., has been sold.

The property was built in 1972 and consists of 28 buildings. The new owner plans to make improvements to the property to make it more competitive in the rental market.

Park Row East offers one- and two-bedroom units ranging in size from 645 sf to 952 sf and in price from $479 to $866, according to its website.

PPA Group of Austin purchased the complex from a local investor.

Read more at Texas Real Estate Business.

SMU to open 33,000-SF Health Center 


DALLAS - Southern Methodist University has broken ground on its new Dr. Bob Smith Health Center, a 33,000-sf center at 6211 Bishop Blvd. that is designed to serve more than 11,000 university students throughout the school year.

The new two-story health center was made possible with a $5 million gift from the Dr. Bob and Jean Smith Foundation, which is why the health center is named after the longtime Dallas pediatrician and alumnus of SMU.

The new center will include outpatient medical care, a laboratory, radiology and pharmacy service. It will also include part-time specialists in dermatology, gynecology, dental services and sports medicine.

The center is scheduled for completion in spring 2016.

Read more at the Dallas Business Journal.

Garland's 200,000-SF Firewheel rolls into sale 

(12/3/2014 7:45:00 AM)

GARLAND - The two-building Firewheel Distribution Center on Crist Rd. has been purchased by Dallas-based real estate fund Atlas CP.

Built in 2008, the project has more than 200,000 sf. It is fully leased to tenants including Atlas Copco Drilling, Milestone Electric, Accent Foods and The City of Garland.

Dalfen America Corp., which had owned the property since 2010, sold the buildings. They were unfinished and only 15 percent occupied when Dalfen bought the property four years ago.

Read more at the Dallas Morning News.

Dallas sale! 33,000-SF Cedar Springs Business Park 


DALLAS - The 33,248-sf Cedar Springs Business Park, located on Cedar Springs Rd. south of Mockingbird Lane, has been sold.

Dallas-based Berlin Interests bought the property from developer Carlisle Interests. Cedar Springs Business Park is fully leased to tenants including Park Cities Petals, Oxshott, SEI Metal Tek and TLC Event Rentals.

“Delivered in 2013, Cedar Springs Business Park is a unique office-industrial asset located seconds from Dallas Love Field,” said CBRE Group’s Jennifer Pierson. “The property provides businesses with a modern work environment in a very convenient location.”

Read more at the Dallas Morning News.

Hawaii investor snags 2M SF in DFW industrial facilities 


DALLAS-FORT WORTH - Six North Texas industrial facilities totaling 2 million sf have been sold to Hawaii-based James Campbell Co.

The properties include:

  • the two-building, 505,000-sf Forum 303 Crossing in Arlington;
  • the two-building industrial complex at 4800 and 4900 Langdon Rd. in South Dallas; and
  • the two-building, 702,274-sf property at Railhead Industrial Park in Fort Worth.

Campbell Co. purchased the assets from Weeks Robinson Properties.

Since 2011, Weeks Robinson has boosted the average occupancy rate of the six properties to 96 percent from original occupancy levels between 35 and 50 percent.

Read more at the Dallas Business Journal.

Lewisville bound: $75M Discovery at the Realm 

(12/2/2014 7:00:00 AM)

LEWISVILLE - Bright Realty will break ground this month on Discovery at the Realm, a $75 million multifamily project.

The Class A property will be located at the southeast corner of Windhaven Pkwy. and Castle Hills Dr.

The community will consist of 423 units developed across three buildings on more than 20 acres. Discovery at the Realm is Phase I of a planned multifamily community within Castle Hills.

The first available units are planned February 2016 delivery, with all Phase I units planned for August 2016 delivery.


New forecast: DFW commercial real estate outlook positive 


DALLAS-FORT WORTH - A new forecast from CBRE Group predicts continued strong demand for buildings during the next few years.

The bottom line: Expect real estate demand in DFW to continue to grow along with jobs and population.

“The local economy is expected to support healthy demand across property sectors,” Sara Rutledge, CBRE’s director of research and analysis said. “Industrial will likely moderate slightly given limited availability until new construction comes online.”

“Multifamily is also expected to moderate given that it is later in the cycle,” she said.

“Going forward the Metroplex should remain an attractive place for corporate users — Toyota is a prime example of that.”

CBRE’s research shows that since 2010, 106 companies — the highest number for any Texas office market — expanded or relocated into space in the DFW area.

Most of the leases were by companies in insurance (27 percent), financial services (15 percent) and technology (13 percent).

Insurance is at the top of that list mainly because of State Farm’s new 1.3 million-sf office complex under construction in Richardson.

Read more at the Dallas Morning News.

For more on Toyota’s move, see previous story Toyota 'Going Places' with $350M Plano HQ. For more on the CityLine development, check out previous story State Farm-anchored $1.5B Richardson project details.

Collins Square office sold in Richardson 


RICHARDSON - Pillar Commercial has acquired Collins Square, a 213,864-sf office building on Collins Blvd. east of US 75. Pillar purchased the building with Origin Capital Partners.

The four-story Collins Square is almost fully leased to The Travelers Cos. The building was constructed in 1986 and renovated in 2002.

The new owners plan to make upgrades to the building over the next six months.

Read more at the Dallas Morning News.

DFW foreclosure filings at 13-year low 

(12/1/2014 10:00:00 AM)

DALLAS-FORT WORTH - DFW home foreclosure filings in 2014 were at the lowest level since 2001, according to data from Foreclosure Listing Service.

For the 12-month period, lenders scheduled more than 18,500 homes in the four-county area for forced sale. Posted foreclosures were down 34 percent from 2013 totals.

December’s foreclosure auctions in Dallas, Collin, Tarrant and Denton counties show 1,460 properties up for sale — a drop of 26 percent from December 2013.

Foreclosures in 2014 were less than a third of what they were during the worst of the housing sector shakeout. DFW home foreclosures hit an all-time high in 2010 when almost 64,000 homes were posted for forced sale.

December’s postings show the biggest declines from the same month in 2013 were in Denton County (down 33 percent) and Dallas County (down 29 percent).

Foreclosure filings for the month are 26 percent lower in Collin County and 19 percent less in Tarrant County than in December 2013.

Real estate analysts credit this year’s sharp decline in foreclosures to rising home values, which have made it easier for owners to sell or refinance problem properties.

Read more at the Dallas Morning News.

Dallas' 33-story Bleu Ciel kick off Dec. 8 


DALLAS - Gabriel Barbier-Mueller plans to kick off the ultra-luxury Bleu Ciel project on Dec. 8.

The 33-story residential tower will incorporate 158 residences. Units will feature two- and three-bedroom floor plans ranging in size from 1,300 sf to more than 7,000 sf. The tower will also have about 12,000 sf of retail space on the ground floor.

This will be the Dallas development firm's second condo tower within the European-styled community adjacent to Uptown. Azure, its first, proved successful, prompting plans for Bleu Ciel.

The high-rise is expected to create more than 800 jobs.

Read more at the Dallas Business Journal.

For more, see previous story Bleu Ciel view: 33-story lux living to Dallas blue sky.

New York invests in Plano's 346-unit Legends at Chase Oaks 


PLANO - The 346-unit Legends at Chase Oaks on Legacy Dr. near US 75 has been sold.

Legends at Chase Oaks offers one-, two- and three-bedroom units ranging in size from 692 sf to 1,367 sf, according to The apartments are located on the Watters Creek Golf Course.

New York-based The Praedium Group purchased the community and plans to upgrade the units. It now has six Texas properties with more than 1,800 apartments.

Read more at the Dallas Morning News.

Flurry activity? Midtown Park mixed-use project to restart 


DALLAS - The 83-acre Midtown Park project that has been stalled for more than five years is about to see a flurry of construction. The project was originally started almost ten years ago on Meadow Rd., just east of N. Central Expy.

Two development sites in the project have just sold to builders, and several more transactions are about to close.

“We have basically sold everything,” said Leon Backes, head of Provident Realty. Provident is development partner with Missouri-based Kroenke Holdings, which owns the land. “This time next year there will be a huge amount of construction going on over there.”

San Antonio-based developer Embrey Partners has purchased 15 acres in the project where it will construct a large rental community.

Developer Hines has purchased another tract for more than 250 townhomes.

Plans include health care facilities, apartments, townhomes, a large rental community and a retirement center.

Read more at the Dallas Morning News.

Keller's 187-unit Arthouse draws sale 


KELLER - The 187-unit Arthouse property at 251 Town Center Lane has been sold by Amstar. Arthouse is 100 percent leased.

The Class A, mixed-use apartment community includes 26,500 sf of ground floor retail space. It was constructed in 2008.

Arthouse offers one-, two- and three-bedroom units ranging in size from 573 sf to 1,490 sf.

The facility contains a resort-style saltwater pool and spa, fire pit, outdoor kitchen, fitness center, and billiards room, in addition to 11 retail tenants.

Read more at PRWeb.

Alliance Residential grabs 7.5 acres in Dallas' CBD 


DALLAS - National multifamily developer Alliance Residential Co. acquired 7.5 acres at 835 S. Good Latimer Expy. from Madison Realty Investors.

Located in the Dallas CBD submarket, the developed site will be demolished to make way for a 340-unit urban-style apartment community.

Read more at CoStar Group.

Stream Realty buys 61 acres in Northlake for industrial park 


NORTHLAKE - Developer Stream Realty Partners has bought a 61-acre building site where it plans to construct an industrial park. The property is near the intersection of I-35W and SH 114.

The Northport 35 Business Center will contain 945,035 sf of industrial space in three buildings, according to Cannon Green, managing director & partner for Stream Realty Partners.

Stream Realty is teaming up with Clarion Partners on the project. The first building will be ready in December 2015.

Read more at the Dallas Morning News.

DFW: Marcus & Millichap 4Q 2014 apartment report 


DALLAS-FORT WORTH - While apartment completions in DFW have surged, the vacancy rate has retreated to its lowest level on record since 2001, according to Marcus & Millichap's Fourth Quarter 2014 ApartmentResearch Market Report.

This tightening in the market can be attributed to strong job creation and nation-leading net migration and household formation driving renter demand to new heights.

During the past 12 months, the multifamily sector recorded a 46 percent increase in permits issued to approximately 19,540 units.

Builders will deliver 18,200 apartments to the Metroplex this year. The forecast reflects a 40 percent increase from 2013 and the most sizable annual addition since 2000.

Here are the top five submarkets ranked by vacancy rate:

Submarket Vacancy Ranking
Submarket Vacancy
Rockwall/Rowlett/Wylie 2.7% $1,121 5.3%
Richardson 3.6% $1,080 4.4%
Garland 3.6% $778 5.1%
Far North Dallas 3.7% $838 5.0%
Northwest Dallas 4.1% $803 6.8%

Source: Marcus & Millichap

Click here to see the full ApartmentResearch Market Report for 4Q 2014 from Marcus & Millichap. Also, see Multifamily under Dallas-Fort Worth Market Data Sources for more apartment info!

Prosper next boomtown? Star Trail paves way to 1,850 homes 


PROSPER - Work will soon begin on the 979-acre Villages of Star Trail, an 1,850-home community along the future Dallas North Tollway route.

The project is expected to break ground in first quarter 2015, according to developer Blue Star Land Co., which is owned by Dallas Cowboys owner Jerry Jones.

The first phase of the community will include about 300 homesites, according to Joe Hickman, who leads Blue Star Land Co.

New houses in Prosper don’t come cheap. Most of the homesites in the town cost $100,000 or more, according to housing analyst Ted Wilson of Residential Strategies.

“The average new home value is in excess of $400,000,” said Robert Winningham, who heads the Prosper Economic Development Corp. “We have held to pretty high standards here."

The Villages of Star Trail is just part of the housing boom going on in Prosper. “We will hit close to 500 new homes this year,” said Winningham.

Read more at the Dallas Morning News.

Dallas' 440-unit Mosaic paints a new picture with sale 

(11/21/2014 6:44:00 AM)

DALLAS - Downtown Dallas’ largest loft apartments — the 440-unit Mosaic — has a new owner. 

The two-building rental community, at Akard St. and Bryan St., has been for sale for several months. The Mosaic cost more than $90 million to develop in 2006 and 2007. The new owner says it plans a multimillion-dollar renovation.

The former office buildings — a 21-story building constructed in 1952 and a 31-story tower added in 1962 — previously housed Fidelity Union Life Insurance Co.

“Mosaic is a huge milestone for Olympus Property,” co-founder Anthony Wonderly said. “The Mosaic is our first high-rise and located close to our corporate headquarters.”

Olympus Property purchased the project from Chicago real estate investors who acquired the buildings in 2010.

Read more at the Dallas Morning News.

Farmers Branch: Duke's spicy deal for two HQ's in 93,000 SF 


FARMERS BRANCH - Duke Realty Corp. will soon begin work on a new project for two tenants: Advanced Spice & Trading and Valdez Corp.

The Indianapolis-based developer plans to build a 93,000-sf, build-to-suit industrial building on 5.5 acres in Valwood Park for the two companies to distribute spices and seasoning to customers. Both companies currently operate from Carrollton.

The new facility will serve as the new corporate headquarters for both companies. Advanced Spice will set up shop in 55,100 sf and Valdez will occupy the remaining 37,900 sf.

Along with the tract, Duke Realty also owns an additional 217 acres throughout Dallas-Fort Worth, including South Dallas, North Dallas and DFW International Airport. The developer has the ability to build 4.4 million sf of industrial and office space.

Read more at the Dallas Business Journal.

345,000-SF industrial center to 'Park' in Grand Prairie 


GRAND PRAIRIE - Avera Companies is building a 345,150-sf distribution complex at the northwest corner of SH 161 and January Lane, south of I-30.

Park 161 Distribution Center will be on 18.8 acres and is scheduled to open in early 2015.

Avera has more than 800,000 sf of properties in the Dallas-Fort Worth area.

Read more at the Dallas Morning News.

$250M Stoneleigh tower adds 70 luxury condos in Dallas 


DALLAS - The $250 million Residences of the Stoneleigh at the southwest corner of Maple Ave. and Wolf St. is nearly completed.

At build-out, the 22-story condominium project will house about 70 residences that will be custom built by custom home builders, such as Crescent Estates Custom Homes and Sharif Munir Custom Homes.

The average home is 3,500 sf, with many homeowners seeking to enlarge their footprint by taking double units or more-square footage.

The condo prices range from $350 to $800 per sf, depending on the customized build-out of the home.

Right now, the tower is roughly 25 percent to 30 percent occupied on a per-sf basis, according to developer Mehrdad Moayedi said.

The Stoneleigh tower also includes a 30,000-sf park — larger than most condo towers — an infinity pool, cabana area and a hot tub.

The Residences at the Stoneleigh weren't always an easy bet. In 2009, the tower was abandoned when its then-owners landed in bankruptcy court.

Moayedi bought the project out of bankruptcy for $4.55 million in 2010.

Read more at the Dallas Business Journal.

Bedford revs to 80,000-SF Harley-Davidson dealership 

(11/20/2014 7:00:00 AM)

BEDFORD - Adam Smith's Texas Harley — one of the largest Harley-Davidson dealerships in the nation — has begun construction on its new Texas Harley store in the 1800 block of Airport Fwy.

The new 80,000-sf flagship store and will consolidate the dealership's three-building setup.

The expansion will consolidate the dealership's sales, service area and administrative offices under one roof in a new two-story building.

Along with the new space, Texas Harley will have 35,000 sf under roof for outside event space for the store's weekly social events that range from community fundraisers to live concerts.

Smith, who has owned Texas Harley-Davidson since 2011, also owns Texoma Harley-Davidson.

Adam Smith's Texas Harley-Davidson is already among the top ten Harley dealerships in the United States in terms of service, finance and sales volume. The flagship store is set to open fall 2015.

Adoptable dogs from the Bedford Animal Shelter were at the event in Harley gear. A fearful black chihuahua had been hiding on the lot for several months. After being rescued and dressed in Harley gear, he was ready to be adopted.

The facility's signage will include "You'll never ride alone" in true Texaas Harley-Davidson fashion.

A grand finale of 150-foot-high orange and black explosives was used to "break ground," along with a custom-made shovel topped with Harley handlebars for Smith.

Read more at the Dallas Business Journal, PRNewswire and the Fort Worth Star-Telegram.

Listen to Podcast 236 for more Small Towns, Big Deals.

Flower Mound's Lakeside DFW 76 percent leased 


FLOWER MOUND - Realty Capital Management LLC, developer of the Lakeside DFW mixed-use development, has leased 76 percent of the project’s first phase.

Phase I consists of six buildings with 50,000 sf of commercial space on the ground floor, plus a 45,000-sf movie theater.

Tenants who have signed leases include Cavaro Prime Brazilian Steakhouse, Paradise Bistro and Coffee Co., Taverna del Lago, Bottle & Bottega, Elite Pups Luxury Dog Daycare & Spa, Majestic Nail Spa, The Lodge Barbershop, Amber Michelle Salon, Engel & Volkers and State Farm Insurance.

Phase I is set for completion early 2015, with businesses opening throughout the first half of 2015.

Lakeside DFW is located at the intersection of FM 2499 and Lakeside Pkwy.

Read more at Texas Real Estate Business.

Dollar-Flowers bloom in 680,000-SF Garland property 

(11/19/2014 7:00:00 AM)

GARLAND - Dollar-Flowers Realty Partners has purchased the former Navistar International Corp. manufacturing facility and warehouse at 4030 Forest Lane.

The property totals 681,354 sf of space on about 50 acres. It had been vacant since early 2013 when Navistar closed the facility and laid off 900 workers.

The property includes heavy power, modern lighting, about 35 acres of concrete paving and frontage along Forest Lane, which Dollar-Flowers hopes will appeal to industrial tenants in Dallas-Fort Worth.

Read more at the Dallas Business Journal.

Ulta cosmetics eye 670,000 SF in Dallas' Mountain Creek 

(11/19/2014 6:43:00 AM)

DALLAS - Ulta Inc. will build a 670,000-sf distribution center in the Mountain Creek Business Park on the north side of I-20 at Mountain Creek Pkwy.

The $18 million distribution center development will ultimately employ 450 workers starting in 2016, according to documents filed with the City of Dallas’ Economic Development Committee.

Construction will start on the building before the end of the year, with completion in late 2015.

Ulta is projecting that the new facility will generate almost $14 million in taxable sales from e-commerce transactions in the first year of operation.

Ulta is the second major cosmetics firm to locate a distribution center in the I-20 corridor. L’Oreal recently opened a 513,000-sf warehouse on Dallas Ave. and Telephone Rd., south of I-20.

Read more at the Dallas Morning News.

For more on L’Oreal’s new facility, see previous story New $18M face in Dallas walks the L'Oreal of Paris runway.

Dallas County OKs $1.9M abatement for Proctor & Gamble 


WILMER - Dallas County has approved a tax abatement worth about $1.9 million for Procter & Gamble’s new distribution facility.

The $50 million facility near I-45 and Mars Rd. is currently under construction and is set to open in early 2015.

The county will rebate 75 percent of the site’s real property taxes, plus 50 percent of the taxes collected from the business personal property held in the site. Those rebates are estimated to total about $191,000 each year. That amount will be abated annually for ten years.

The facility is expected to add more than $100 million to the tax rolls. During the abatement period, the county expects to collect about $130,000 in new revenue each year.

Procter & Gamble has also promised to create at least 390 jobs at the facility with an average salary of $29,500.

Read more at the Dallas Morning News.

For more on the new facility, see previous story Proctor & Gamble wrapping up Wilmer project, hiring 500.

Dallas buildings in Oak Lawn and on North Central sold 


DALLAS - Caddo Holdings LLC has sold two office properties to Westdale Real Estate Investment & Management Co.

The first is the 3500 Oak Lawn Ave. building at Lemmon Ave. — a 101,541-sf building constructed in 1980.

The second is 4245 N. Central Expy. — an 87,292-sf building that was built in 1986 near Fitzhugh Ave.

Caddo acquired both properties in February 2013.

Westdale is a Dallas-based private investor with large holdings of apartments and commercial buildings.

Read more at the Dallas Morning News.

For more about Caddo's purchase of 3500 Oak Lawnand 4245 N. Central Expy., see previous story Caddo Holdings acquires two Dallas offices.

McKinney Moviehouse coming to Craig Ranch 


McKINNEY - Moviehouse & Eatery will build its fourth facility in the Craig Ranch development located on the north side of SH 121.

The Austin-based company has contracted to purchase a 6.5-acre tract of land on SH 121 at Exchange Pkwy. The development is planned for a ten-screen Moviehouse & Eatery, which would start construction spring 2015 and open in early 2016.

The 2,200-acre Craig Ranch is one of the Dallas area’s largest and most successful residential and mixed-use communities.

Moviehouse & Eatery is also building a location in Flower Mound and has opened a theater in Keller.

Read more at the Dallas Morning News.

For more on the Keller location, see previous story Moviehouse & Eatery opens 42,000-SF Keller cinema.

Keller: Moviehouse & Eatery opens 42,000-SF cinema 


KELLER - Austin-based Moviehouse & Eatery has opened a 42,000-sf location at 250 Rufe Snow Dr.

The cinema features eight dine-in theaters with 900 plush recliners, wall-to-wall screens and auditoriums utilizing the latest technology available for digital projection and surround sound.

As a dine-in theater, full food and beverage service is offered to patrons in each auditorium.

The lobby of the theater features a lounge area and offers a full-service bar featuring a menu of craft cocktails.

“Moviehouse & Eatery is excited to bring a premier theater experience at a value price point for residents of Keller and the surrounding area,” said Manager Chris Rowand.

Moviehouse & Eatery is part of Keller Town Center with Keller Independent School District Natatorium and The City of Keller City Hall.

Read more at PRWeb.

Pacific Union adds 30,000 SF to Farmers Branch office 


FARMERS BRANCH - Pacific Union has expanded its lease at 1603 LBJ Fwy. by 29,473 sf. The Irving-based company now has 88,220 sf at Browning Place II in Mercer Crossing.

The expansion will give Pacific Union the ability to hire 200 additional workers for the office.

In Sept. 2012, Pacific Union signed its corporate lease in Irving for 49,000 sf of office space at a building on Freeport Pkwy.

When the company expanded in 2013, Pacific Union said it planned to hire employees to support the company's growing loan servicing and origination business.

Read more at the Dallas Business Journal.

Telect Inc. to lay off 116 in Plano 


PLANO - Telect Inc. will close its production facility at 1801 10th St., leaving 116 employees out of work.

Telect plans to lay off the employees at its metals fabrication and systems development center between Jan. 11 and May 31, according to a Nov. 11 letter it filed with the Texas Workforce Commission under the Workers Adjustment and Retraining Notification Act.

The eliminations are expected to be permanent.

Telect is headquartered in Liberty Lake, Washington, and has manufacturing facilities in Guadalajara, Mexico. The company designs, manufactures and integrates copper, fiber, power and rack network infrastructure equipment, according to its web site.

Read more at the Dallas Business Journal.

Caiman Energy II inks 26,000 SF at Dallas' Sterling Plaza 


DALLAS - Caiman Energy II has signed a renewal and expansion lease for 25,829 sf at Sterling Plaza.

Located at 5949 Sherry Ln. in the Preston Center submarket, Sterling Plaza is a 313,609-sf, 19-story office high-rise that was constructed in 1984.

Sterling Plaza is currently 91.7 percent leased to a tenant roster that includes Sammons Enterprises, The Point Group and Stratford Group, among others.

Read more at CoStar Group.

TSTC Technology degree about $8,000 in Red Oak 


RED OAK, ELLIS COUNTY - The $10 million, 102,000-sf Texas State Technical College (TSTC) Industrial Technology Center has opened behind Red Oak High School after nine months of construction.

The facility will allow people to get a technical degree for about $8,000, and tuition is not paid until the students have successfully found a job that pays more than minimum wage, based on the skills they’ve learned.

Currently, the Red Oak campus has 133 students already enrolled.

“Ellis County is growing similar to the way Denton and Collin County are growing on the north side of Dallas and Tarrant. The south side of the Metroplex region is now going to begin growing at a very similar rate and it’s for all the right reasons. It is the opportunity for young men and women to come here and begin living their American Dream,” said Sen. Brian Birdwell.

Read more at the Waxahachie Daily Light.

See previous story TSTC tech savvy $10M Red Oak center underway.

Dallas' $56M Cantabria at Turtle Creek units delivering 


DALLAS - Cantabria at Turtle Creek, a luxury 249-unit apartment development, has begun delivering units with approximately 20 percent of the units leased.

Construction is expected to be completed in first quarter 2015. Associated Estates Realty Corporation (AERC), who is developing the community at 2728 Hood St, projects total cost of capital to be $56.8 million, as of Oct. 28.

Cantabria at Turtle Creek will offer one- and two-bedroom units ranging from 661 sf to 1,616 sf.

Average rent per unit for Cantabria at Turtle Creek is $2,286, according to AERC's 3Q 2014 Earnings Release and Supplemental Financial Information. The average rent is based on projected stabilized rents, which can be updated to reflect market rents and rents achieved.

Stabilization is expected in 2Q 2015, with AERC defines as the earlier of the attainment of 93 percent of physical occupancy or one year after the completion of construction.

Read more at the Securities and Exchange Commission. Full details relating to all of the Company's developments can be found on page 12.

For more about the project, check out Cantabria at Turtle Creek.

FedEx Ground sorts 300,000-SF 'package' to Alliance 


FORT WORTH - FedEx Ground is building a new distribution center at AllianceTexas that will employ about 375 workers.

The new 300,000-sf distribution center, expected to open in August 2015, will be located near the company's Southwest Regional Sort Hub at Alliance Airport.

FedEx Ground currently has six facilities in the area and employs over 2,800 people. At Alliance, FedEx has about 600,000 sf and employs more than 800 workers.

According to the Memphis-based company, the new facility is part of a nationwide network expansion to boost daily package volume capacity and further enhance the speed and service capabilities of the FedEx Ground network.

Since 2005, the company has opened 11 new hubs featuring advanced material-handling systems and expanded or relocated more than 500 local facilities.

FedEx Ground is not the only FedEx division to expand in the area. FedEx Office & Print Services Inc. broke ground earlier this year in Plano for a new 265,000-sf corporate campus.

Read more at the Fort Worth Business Press.

For more on FedEx Office & Print Services’ new headquarters, see previous story FedEx's consolidating HQ ship with 265,000 SF in Plano.

Arlington's 311-room Sheraton Hotel sold 


ARLINGTON - The 311-room Sheraton Hotel that is next door to the Arlington Convention Center and Globe Life Park has been sold.

Urbana Varro, a Plano-based commercial real estate firm, purchased the hotel, which was valued at $17.8 million by the Tarrant Appraisal District.

The new owners plan to renovate the property, which was built in the 1980s.

“The Sheraton Arlington Hotel will provide us with exposure in the thriving Dallas market and will be a great addition to our growing portfolio,” said Jeremy Soder, chief marketing officer for Urbana Varro.

Read more at the Dallas Morning News and the Fort Worth Business Press.

The law calls on 50,000 SF of Pyramids' office in Dallas 

(11/17/2014 6:30:00 AM)

DALLAS - Shackelford, Melton, McKinley & Norton LLP has leased more than 50,000 sf at the Pyramids at Park Lane project located at Park Lane and N. Central Expy., across from NorthPark Center.

The Dallas-based firm, which specializes in serving auto sales firms, banks and entertainment, also has an office in Nashville and plans to expand to California.

It currently employs 41 attorneys and plans to add ten more, according to founding partner John Shackelford.

The 15-year-old legal firm signed a lease for more than 15 years with options to renew and expand its office space.

Read more at the Dallas Morning News.

REI sets up camp at Southlake's Park Village 


SOUTHLAKE - Outdoor equipment and clothing retailer REI has become the first tenant to open in Park Village, a new commercial development at the intersection of Southlake Blvd. and Carroll Ave.

The company has hired between 40 and 50 employees, most of which are part time, to work at the 22,000-sf store.

The Southlake store represents REI’s third location in Dallas-Fort Worth and ninth location in Texas.

The company is also planning to relocate its Dallas store at 4515 I-635 to anchor the shopping center on Northwest Hwy. owned by Half Price Books. That 34,000-sf location is scheduled to open in spring 2015.

Read more at Community Impact Newspaper and Racked Dallas.

For more on REI’s new Dallas location, see previous story Dallas REI climbs into Half Price Books' shopping center.

Fort Worth: Forest Park Medical Center opens $95M hospital 

(11/14/2014 7:30:00 AM)

FORT WORTH - The $95 million Forest Park Medical Center Fort Worth has opened to patients, creating 175 jobs and becoming the latest entrant in North Texas' highly competitive hospital market.

The 54-bed acute care hospital at 5400 Clearfork Main St. is 70 percent physician-owned, according to CEO Jim Davis.

The Fort Worth hospital is the fourth facility developed in North Texas by Neal Richards Group under the Forest Park umbrella since the company was founded in 2009.

The others are the flagship in Dallas and smaller facilities in Southlake and Frisco. Forest Park also has hospitals in San Antonio and Austin.

Here are some key facts and figures for Forest Park Medical Center Fort Worth:

•  $95.5 million project cost
•  54 private inpatient rooms, including family suites
•  150,000-sf surgical specialty care hospital
•  Six intensive care rooms
•  12 operating suites
•  75 local physician partners invested to-date
•  150 physicians with privileges
•  175 employees

The new Forest Park hospital is part of a $5 billion hospital-building wave in North Texas to replace aging facilities and meet the demands of a growing population.

Read more at the Dallas Business Journal.

Fall 2014 North Texas college enrollments 

(11/14/2014 7:29:00 AM)

NORTH TEXAS - The Dallas Business Journal has published enrollment statistics for North Texas universities and colleges for fall 2014.

Below is a snapshot of the schools, ranked by fall 2014 total enrollment.

North Texas College and University Enrollment Fall 2014
School Fall 2014
Fall 2014
Avg. SAT
University of North Texas 36,216 27,183 1,109
University of Texas at Arlington 34,899 15,519 1,058
The University of Texas at Dallas 23,095 11,630 1,256
Texas Woman's University 15,069 6,795 940
Texas A&M University­ Commerce 12,132 5,379 977
Southern Methodist University 11,272 6,193 1,308
Texas Christian University 10,033 8,338 1,774
Dallas Baptist University 5,445 2,397 1,124
Texas Wesleyan University 2,606 1,424 991
University of Dallas 2,548 1,313 1,214
UT Southwestern Medical Center 2,310 N/A N/A
UNT Health Science Center 2,100 N/A N/A
Southwestern Assemblies of God University 1,984 1,445 1,500
Amberton University 1,381 136 N/A
DeVry University - Irving Campus 1,347 392 N/A
Parker University 1,005 153 N/A
Dallas Christian College 311 235 1,393

Researched by Erin Amburgey-Sood of the Dallas Business Journal.

Read more on page 14 of the Dallas Business Journal.

275,000-SF Paradise office project to Prosper 

(11/14/2014 6:00:00 AM)

PROSPER - A 275,000-sf office building is headed to the northwest corner of the Dallas North Tollway and US 380.

Construction on the project will start in 2015. The new office project is next door to where Texas Health Resources is building an advanced outpatient facility.

Developer Jack Matthews is developing Matthews Paradise in a partnership with developer Mitch Paradise.

Texas Health Resources recently bought 10.5 acres for the medical project, which is still in design work, according to Paradise. “We think building an office project next door is appropriate,” Paradise said.

Read more at the Dallas Morning News.

Industrial portfolio sold in Bryan, Fort Worth 

(11/13/2014 7:10:00 AM)

FORT WORTH, BRYAN - A two-property industrial portfolio with property in Fort Worth and Bryan has been sold.

In Fort Worth, a 48,000-sf industrial property at 7200 Jack Newell Blvd. was purchased. It consists of four buildings on eight acres and was built in 2001.

In Bryan, a 26,000-sf industrial building at 2801 N. Earl Rudder Fwy. was sold.

The Bryan property, which was built in 2007, sits on 29 acres and was listed for sale at $4.7 million by Lee & Associates, who sold both properties on behalf of the seller.

Both properties are manufacturing facilities with outside storage and long-term leases.

Triple Net Acquisitions purchased the properties.

Read more at Lee & Associates.

New retailers unveiled at Dallas' Preston Hollow Village 

(11/12/2014 7:55:00 AM)

DALLAS -  The developer behind Preston Hollow Village, at the northwest corner of Walnut Hill Lane and North Central Expy., has unveiled its new retailers. Plans are to develop more than 500 apartments.

The majority of the new retailers at the 42-acre mixed-use development will be new to Dallas, said Leon Backes, CEO of Provident Realty Advisors, which is developing Preston Hollow Village in partnership with Kroenke Holdings.

Backes said 50 percent of the retail space in the initial phase is now already leased.

The initial phase included 75,000 sf of retail and restaurant space, a 60,000-sf office building and a 14,000-sf Trader Joe's grocery store.

The retailers that have signed onto the project begin opening by the end of this year. Here's a look at the tenants coming into Preston Hollow Village:

•  Blue Sushi Sake Grill
•  Frost Bank
•  Eighteen Eight Fine Men's Salon
•  Modmarket
•  Orangetheory Fitness
•  Pakpao Thai
•  Tangerine Salon
•  VertsKebap

The development group plans to break ground on its next phase of development, which will include three seven-story apartment buildings totaling 512 apartments by early 2015.

Read more at the Dallas Business Journal.

MetroStudy: DFW No. 2 in home starts 2015; Houston No. 1 

(11/12/2014 7:45:00 AM)

DALLAS-FORT WORTH - The Metroplex should be the second busiest home building market in the country in 2015.

MetroStudy Inc. predicts that only Houston will have more single-family home starts in 2015 in a comparison of the country’s top building markets.

DFW home starts are forecast to top 28,000 units in 2015, compared with the Houston area’s more than 37,000 starts.

“Most of the other starts leaders in 2015 will be markets where builders can secure the raw material — labor, land, and materials — to start new projects,” MetroStudy reports.

“Builders in Dallas are pushing their capacity as well, as they assemble more lots and struggle to find enough skilled workers to keep up with demand.”

Read more at the Dallas Morning News.

North Texas preowned home sales soared in October 

(11/12/2014 7:42:00 AM)

DALLAS-FORT WORTH - Sales of preowned homes in North Texas jumped by 13 percent in October — the biggest annual sales gain in more than a year.

Real estate agents in the area sold 7,859 homes in October, according to the latest data from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems.

Condominium and townhouse sales were even stronger, running 17 percent higher than in October 2013.

Median sales prices for preowned homes sold in the area by property agents were 7 percent higher than a year ago.

With the strong sales, the supply of houses on the market continues to lag 2013 levels. There was only a 2.7-month supply of homes listed for sale in the multiple listing service for the more than two dozen counties in North Texas.

Read more at the Dallas Morning News.

Mansfield: The Oaks Preserve(s) 157 acres for homes 


MANSFIELD - Eyeing second quarter 2015 for the initial delivery of lots, MKP Development LLC has closed on a 157-acre tract and immediately jumped into preparing the raw land for the city's newest luxury development, The Oaks Preserve.

MKP is eyeing second quarter 2015 for the initial delivery of the lots. The land is located at the corner of W. Broad St. and Lillian Rd.

The 100-lot The Oaks Preserve community will feature 40 acres of trails, habitat sanctuary and equestrian center.

The Oaks Preserve will be laid out with one- to two-acre lots: 44 in Phase One — 16 are earmarked as a gated enclave — and 56 in Phase Two.

"Residential demand in the area is the market driver for the immediate construction," said Wayne Burgdorf.

Summit Custom Homes Inc. and Innovation Builders Inc. have been selected as the home builders for Phase One. Six additional custom home builders are lined up for construction in the gated enclave, which will feature larger lots and exclusive amenities.

Read more at the Fort Worth Business Press.

466,000-SF Victory Center office to Dallas' Victory Park 


DALLAS - A joint venture expects to break ground in mid-2015 on Victory Center, a 466,000-sf office tower in Uptown’s Victory Park project.

Houston-based developer Hines is teaming up with Cousins Properties Inc. to develop the 23-story glass high-rise, which will be the largest office project in the 75-acre development.

The new tower is expected for be completed in 2017 on Victory Ave., southwest of the American Airlines Center.

After losing momentum during the recession, Victory Park is currently bustling with new apartment construction and an overall of the project’s street-level retail space.

“Victory Center will be an excellent addition to the thriving Uptown Dallas office market, and we couldn’t be more excited to be a part of the transformation occurring at Victory Park,” said Larry Gellerstedt, president and CEO of Cousins.

Read more at the Dallas Morning News.

Former Dallas auto shop sold in Cedars neighborhood 


DALLAS - Another building in Dallas’ historic Cedars neighborhood has been purchased for renovations.

The one-story building at 1610 S. Ervay St. was purchased by investor Zad Roumaya in partnership with B3 Commercial Management LLC.

The owners plan to convert the 37,848-sf former automobile service center on 2.4 acres into a business complex for small and start-up businesses. It was originally built in 1945.

The commercial building — which once was occupied by Yellow Cab — is just across the street from a group of buildings being sold to Claude Albritton III — cofounder of the popular McKinney Avenue Contemporary Gallery.

The Cedars neighborhood just south of downtown Dallas is emerging as the latest urban real estate market to see widespread investment and redevelopment.

Several historic buildings are set for renovation and new apartment and townhouse projects are in the works.

Read more at the Dallas Morning News.

Fort Worth: PinStack to strike with 50,000 SF in Alliance 


FORT WORTH - Entertainment venue PinStack is headed to AllianceTexas, as the mixed-use development has announced the recreation attraction will come to Heritage Trace Pkwy. and Hillwood Pkwy.

Set to open in early 2016, PinStack’s second location will be a 50,000-sf venue featuring full-sized bowling lanes and indoor games, as well as dining and private party options.

Hillwood Properties, developer of the 18,000-acre AllianceTexas development, confirmed the deal after reaching an agreement with Dallas-based Entertainment Properties Group Inc.

Also part of the PinStack package will be a full-service restaurant serving a chef-inspired menu, as well as a full bar offering custom craft cocktails and extensive beer and wine selections.

PinStack’s first location will open soon in west Plano.

Read more at the Fort Worth Star-Telegram and the Fort Worth Business Press.

For information on PinStack’s Plano location, see previous story PinStack bowls 'em over in West Plano.

Whole Foods plans first Irving store 


IRVING - Whole Foods Market has announced plans to open its first store in Irving. The 45,000-sf store will anchor a new 85,000-sf shopping center at the southwest corner of President George Bush Turnpike (SH 161) and N. MacArthur Blvd. in Las Colinas.

Construction on the 12-acre shopping center will begin this month and the store is scheduled to open by fall 2016.

Whole Foods has been aggressively expanding its North Texas store count in recent years and now has ten stores in the Dallas area. Another five stores, including this one announced today, are in the works.

Here are the opening dates for previously announced stores in development:

•  Uptown Dallas at McKinney Ave. and Routh St. in summer 2015
•  Frisco in the Forum at Wade Park at the Dallas North Tollway and Lebanon Rd. in fall 2015
•  Fort Worth at Bryant Irvin Rd. and Arborlawn Dr. spring 2016
•  Richardson in the CityLine development at Plano Rd. and Renner Rd. in spring 2016
•  Irving at SH 161 and MacArthur in fall 2016

Read more at the Dallas Morning News.

WinCo Foods brings value bulk foods to North Richland Hills 


NORTH RICHLAND HILLS - WinCo Foods has opened its new store at 5152 Rufe Snow Dr.

The 82,600-sf store will initially employ approximately 160 individuals, 150 of whom have been hired locally.

The store features a "Wall of Values" at the entry, which displays a wide variety of high volume products with particularly good pricing. The main sales floor of each store encompasses large fresh produce, bulk foods, meat, deli, seafood and bakery service departments.

WinCo Foods is an employee owned company founded in 1967 in Boise, Idaho that now operates 98 stores across the U.S.

Read more at Perishable News.

$48M Alexan Riveredge' 309 units to overlook Trinity River 


DALLAS - Trammell Crow Residential has released plans for Alexan Riveredge, a 309-unit apartment building the developer plans to build on the banks of the Trinity River near downtown.

The five-story building is planned for a 2.5-acre tract on Turtle Creek Blvd. just west of Riverfront Blvd.

The Dallas Design District Tax Increment Finance District has agreed to give the developer up to $7.8 million in incentives to build the project, which is expected to start in 2015.

The project is expected to cost almost $48 million and is just one of a handful of new apartment projects Trammell Crow Residential has in the works in urban Dallas neighborhoods.

Read more at the Dallas Morning News.

NTREIS: Collin County 3Q 2014 housing sales by ZIP 


COLLIN COUNTY - North Texas Real Estate Information Systems (NTREIS) has released its Economic & Market Watch Report for third quarter 2014 of 53 counties it covers. Here's a look at Collin County.

Below are the top eight zip codes in Collin County, ranked by the number of closed sales during 3Q 2014.

Top Performing Zip Codes by Closed Sales
  Median Sales
% of Orig.
Price Rec'd
Days on Market Closed Sales
Zip Code 3Q
75070 $250,000 11.5% 98.8% 0.6% 33 23.8% 699 -3.5%
75035 $278,850 9.4% 98.8% 0.4% 30 -5.0% 403 3.6%
75071 $250,000 12.3% 97.7% 0.3% 43 29.9% 353 6.0%
75002 $225,900 15.6% 99.1% 0.3% 27 2.2% 319 11.9%
75098 $195,000 15.2% 97.8% 0.2% 35 10.4% 286 16.3%
75013 $390,000 10.7% 96.7% -0.3% 47 11.2% 217 -7.7%
75025 $295,000 12.2% 99.0% 0.6% 23 6.7% 215 -18.9%
75023 $211,525 11.9% 99.3% 0.8% 21 -6.8% 198 -14.7%

Source: North Texas Real Estate Information Systems

See NTREIS Economic & Market Watch Report 3Q 2014 for more information.

For more stats, check out Housing under DFW Market Data Sources.

Funded: Allen's 740-unit Dolce Living at Bella Terra 

(11/10/2014 9:00:00 AM)

ALLEN - DLC Residential has received funding to start construction of a 740-unit apartment community planned near the intersection of Watters Rd. and W. McDermott Drive.

The Florida-based developer will build the Dolce Living at Bella Terra apartments. The first phase will have 374 units and a second phase is planned with 366 units.

The apartments will average 946 sf and are in three- and four-story buildings.

Dekel Capital and Mountain Capital Partners provided joint venture equity to fund the project, and the firms provided funding for apartment developments in Houston and San Antonio for a total of $18.5 million.

Read more at the Dallas Morning News.

JV buys Plano's Legends at Ridgeview Ranch 


PLANO - Olympus Property and Artemis Real Estate Partners have acquired Legends at Ridgeview Ranch, a 480-unit apartment complex at 2300 Kathryn Lane.

Legends at Ridgeview Ranch offers one-, two- and three-bedroom apartments ranging in size from 692 sf to 1,846 sf and in price from $784 to $1,840.

The Class A property was built in 1999. It sits on 34 acres along the Ridgeview Ranch Golf Course near Legacy Business Park.

The joint venture plans to spend about $2 million to complete an interior renovation and to enhance common areas.

Read more at PRNewswire.

Toyota 'Going Places' with $350M Plano HQ 


PLANO - Toyota has filed plans with the City of Plano that plot the layout of its $350 million headquarters in Legacy Park.

The document does not indicate building sizes or heights, but shows at least 11 structures that occupy most of the 100-acre site near Legacy Dr. and SH 121. Included on the site will be an office complex, warehouses and several parking garages.

Toyota announced in May that it is moving its current headquarters in Torrance, Calif., to Plano over the next two years. As many as 4,000 employees may make the move to Texas.

Read more at the Dallas Morning News.

For more on Toyota’s move, see previous story Toyota's relocation drives incentive agreement with Plano.

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