NewsTalk Texas

Dallas-Fort Worth-Arlington

TAR: Dallas condo and townhome sales first half 2015 

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

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

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

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

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

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


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

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

Microsoft 'speaks your language' as store debuts in Frisco 

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

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

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

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

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

Read more at Community Impact Newspaper.

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Dallas: Lofts moving in to The Shops at Park Lane 

(7/2/2015)

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

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

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

Read more at the Dallas Morning News.

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Carrollton: Diesel Displays 81,000-SF facility 

(7/2/2015)

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

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

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

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

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

Read more at the Dallas Business Journal.

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MPF 2Q 2015: Apartment construction doubles in DFW 

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

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

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

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

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

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

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

Read more at the Dallas Morning News.

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

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

(7/1/2015)

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

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

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

Read more from Texas Real Estate Business.

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

(7/1/2015)

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

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

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

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

Read more at the Dallas Business Journal.

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

What's the temp? DFW housing market July 2015 

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

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

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

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


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

For a sortable list, visit D Magazine.

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

Dallas home prices up! Standard & Poor's 

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

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

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

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


Home Price Changes U.S.

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


*ranked by one-year change

Read more at the Dallas Morning News.

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

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

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

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

The Fort Worth locations include:

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


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

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

Read more at the Fort Worth Business Press.

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

Dallas: 77,000 SF in Frost Tower now occupied  

(6/30/2015)

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

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

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

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

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

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

Read more at the Dallas Business Journal.

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Flower Mound's 146-room Marriott River Walk underway 

(6/30/2015)

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

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

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

Read more at the Dallas Business Journal.

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Leaping lizards! $5.5M nature retreat center to Plano 

(6/30/2015)

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

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

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

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

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

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

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

Read more at Community Impact Newspaper.

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

Crowdfunding comes to Texas with Cedar Hill senior housing 

(6/30/2015)

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

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

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

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

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

Read more at Bisnow.

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On screen: Southlake company purchases 11 cinema buildings 

(6/29/2015)

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

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

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

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

Read more at the Dallas Morning News.

tag: Dallas NewsTalk, Dallas Market Research

Westin Dallas Downtown in 1M-SF hotel for Christmas 

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

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

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

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

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

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

Read more at the Dallas Business Journal.

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The Shops at Starwood twinkling to start in Frisco 

(6/26/2015)

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

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

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

Construction is slated for completion in first quarter 2016.

Read more at the Dallas Business Journal.

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

Whole Foods Market moving-in to Uptown Dallas 

(6/25/2015)

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

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

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

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

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

Read more at the Dallas Business Journal.

tag: Dallas NewsTalk, Dallas Market Research

Sold: 172-Unit Fox Creek Apartments in Carrolton 

(6/25/2015)

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

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

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

Source: Marcus & Millichap

Burlington hangs coats in Cedar Hill 

(6/25/2015)

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

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

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

Read more at the Dallas Business Journal.

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

 

Denton Crossing expands and gains 

(6/25/2015)

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

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

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

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

Read more at PRNewswire.

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

North Texas counties ranked by home sales May 2015 

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

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

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

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


*Ranked by number of sales

Source: NTREIS

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

Public safety training facility? Collin College fires up 

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

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

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

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

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

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

Read more at Community Impact Newspaper.

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

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

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

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

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

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

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

Source: Marcus & Millichap

Buc-ee’s beaver nuggets to Terrell  

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

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

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

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

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

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

Read more at the Dallas Business Journal.

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

11-Story The Addison sold in JV 

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

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

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

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

Read more at the Dallas Business Journal.

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32,000-SF box opens in Tetra Pak Denton 

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

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

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

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

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

Read more at the Denton Record-Chronicle.

Goal ready at 50,000-SF Frisco facility 

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

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

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

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

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

Read more at Community Impact Newspaper.

DTZ: Dallas office snapshot 1Q 2015; key transactions 

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

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

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

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

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

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


See the full Office Market Snapshot 1Q 2015 report.

tag: Dallas Market Research, Dallas NewsTalk office

NAR Dallas housing market 1Q 2015 

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

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

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

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


*Equity gain reflects price appreciation only.

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

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

Also see more Housing data under Dallas Market Research.

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

Popcorn, plaza, parking plans to Glade Parks Euless 

(6/22/2015)

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

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

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

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

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

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

Read more at the Fort Worth Star-Telegram.

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Downtown Fort Worth commercial stats 1Q 2015 

(6/22/2015)

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

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

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

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


*Full service rent ($/SF/YR)

See the full Downtown Fort Worth Inc. residential report.

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

Dallas Symphony Foundation composes a sale 

(6/22/2015)

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

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

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

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

Read more at the Dallas Business Journal.

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

Downtown Cowtown scoots higher to residential stats 1Q 2015 

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

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


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

 

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


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

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

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

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

See more reports at Downtown Fort Worth Inc.

tag: Dallas-Fort Worth Market Research

Newmark: DFW Office Market Report 1Q 2015 

(6/19/2015)

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

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

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

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

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


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

tag: DFW Market Research, DFW NewsTalk

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

(6/19/2015)

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

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

Read more at the Dallas Morning News.

tag: DFW Market Research, DFW NewsTalk retail

Kroger adds cart to grocer mix near Dallas’ Arts District 

(6/19/2015)

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

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

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

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

Two other grocery chains are making a move in Uptown.

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

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

Read more at the Dallas Morning News.

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

Arlington Skymark flies to $8.9M sale 

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

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

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

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

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

Read more at the Securities and Exchange Commission.

Hatcher Station Health Center stops on Dallas fast track 

(6/18/2015)

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

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

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

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

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

tag: DFW Market Research, DFW NewsTalk

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

(6/18/2015)

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

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

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

The center will employ about 50 workers.

Read more at the Dallas Business Journal.

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

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

Eatery project reserves five acres in Richardson  

(6/18/2015)

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

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

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

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

Read more at the Dallas Morning News.

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

IRR 2015 forecast: DFW multifamily in the U.S. mix 

(6/18/2015)

TEXAS, U.S. - The multifamily market sector continues to lead the commercial real estate industry in many respects according to the latest IRR U.S. Cities Forecast/Conditions viewpoint.

In terms of underlying operating performance, Class B continued to outpace Class A performance with respect to occupancy in 2014.

While the multifamily sector continued to show many signs of strength, including continued expansionary market behavior, strong occupancy rates, and historically low capitalization rates, the early warning signs of a shift in market dynamics may have reared their heads in 2014.

Multifamily Market Conditions and Forecasts 2015
Market Area Class A
Inventory
(units)
Class A
Vacancy
Rate
Class B
Inventory
(units)
Class B
Vacancy
Rate
Forecast
Avg. Annual
Net Absorp.
2015-2018
(units)
Houston 286,830  5.72% 322,450 6.71% 7,596
Dallas 222,928 5.31% 211,637 4.30% 3,814
Atlanta, Ga. 196,150 4.34% 171,000 7.18% 3,600
Phoenix, Ariz. 127,427 4.50% 137,622 4.74% -
Austin 99,938 6.66% 73,681 3.32% 2,965
Fort Worth 82,704 5.30% 80,751 4.10% 1,217
San Antonio 79,710 8.09% 81,000 6.96% 4,500
Las Vegas, Nev. 66,253 5.68% 71,289 5.50% 4,770


*Ranked by Class A Inventory

Read the full Multifamily Forecast/Conditions U.S. Cities 2015 (PDF) report.

tag: DFW Market Research, DFW NewsTalk

Dart Warehouse targets 143,000-SF lease in Grand Prairie 

(6/17/2015 8:00:00 AM)

GRAND PRAIRIE - Dart Warehouse Corp. signed a six-year lease for 143,003 sf of Class A industrial space at Regency I,

Regency I, located at 1025 Post and Paddock Ln., is a 419,521-sf industrial building completed in 2014 on 24.65 acres in the Great SW/Arlington Industrial submarket.

Bradford Cos. is currently marketing the remaining 276,518 sf for lease.

Source: CoStar Group

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

7-Eleven thanks heaven for new 325,000-SF HQ 

(6/17/2015 7:10:00 AM)

IRVING - Dallas-based 7-Eleven’s new headquarters under construction in Cypress Waters has been financed with a $41.5 million loan.

The 325,000-sf headquarters complex for the convenience store giant is located in Irving in the Cypress Waters development off LBJ Fwy.

More than 1,300 7-Eleven employees will make the move from downtown Dallas to the new Cypress Waters offices at the end of this year.

7-Eleven will join Nationstar Mortgage, CoreLogic and Cheddar’s restaurants with offices in the 1,000-acre Cypress Waters development.

Read more at the Dallas Morning News.

tag: DFW Market Research, DFW NewsTalk

Topping out 23-story Jordan Uptown in Dallas 

(6/17/2015 7:00:00 AM)

DALLAS - Developer StreetLights Residential has topped out its latest Dallas high-rise, a 23-story building under construction next door to the Federal Reserve Bank of Dallas.

The Jordan Uptown will have 212 apartments and is located a block off McKinney Ave. at 2355 Thomas Ave.

The first units — ranging from 735 to 2,262 sf — will be ready in January.

StreetLights is working on plans for another 23-story apartment tower on the eastern edge of Highland Park at McKinney Ave. and Webb St., just east of North Central Expressway.

Read more at the Dallas Morning News and The Jordan Uptown.

tag: DFW Market Research, DFW NewsTalk. Link to your own website or blog and keep in touch with the Real Estate Center at Texas A&M.

Grapevine pruning producing new retail strip at Main St. 

(6/17/2015 6:45:00 AM)

GRAPEVINE - Named The Gallery on Main St., what was once a “shabby,” run-down retail strip is being transformed into one of the most high-end buildings on the historic downtown Main St.

Grapevine City Council approved the two-level, 46,030-sf building in April 2013 after going through several rounds of approvals with the Historic Preservation Commission to ensure the building assimilated well with Main St.

In February the building’s first tenant, Cotton Patch Cafe, opened its doors, and the second tenant, Hollywood Feed, a natural pet food store, is opening this summer.

The building’s second level is designated for traditional office space as well as prefinished smaller office spaces called pods. The second floor will also contain the future restaurant’s patio.

The development also features a three-car valet drop off.

Read more at Community Impact Newspaper.

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

Silver platter restaurants to serve Legacy West Plano 

(6/17/2015)

PLANO - Some of the country’s top restaurant operators are heading to the $2 billion Collin County Legacy West development in Plano.

Legacy West will also feature a one-of-a-kind food hall building with a market area, specialty food vendors and room for live entertainment.

The three-story food hall building will contain more than 30,000 sf and will be located at the north end of the project.

Karahan Cos. has already signed leases with a more than a half dozen big name restaurants — such as Taverna, Bistro 31, Toulouse, North Italia and True Food Kitchen — for Legacy West.

Within two years more than 13,000 people will be working in the Legacy West project, making it one of the largest new job centers in the state.

Read more at the Dallas Morning News.

tag: see retail under Dallas-Fort Worth-Arlington Market Research, Dallas-Fort Worth-Arlington NewsTalk retail

152-Unit El Rancho Escondido sold in Fort Worth 

(6/17/2015)

FORT WORTH - El Rancho Escondido, a 152-unit apartment community located at 2840 Las Vegas Trail, has been sold.

Located in close proximity to I-30 and I-820, El Rancho Escondido has undergone extensive renovations to both the exterior and interior.

El Rancho Escondido features one- and two-bedroom units ranging from 701 sf to 1123 sf.

tag: DFW Market Research, DFW NewsTalk. Feel free to link to your own website or blog.

Alcatel-Lucent move streamlines 500,000 to 260,000-SF HQ 

(6/16/2015 8:45:00 AM)

PLANO - Amid its $16.6 billion acquisition by Nokia, Alcatel-Lucent is preparing to move into a new regional headquarters building that will help streamline its operations.

The company currently operates out of two buildings at its Plano campus. Its current footprint is about 500,000 sf. It plans to sell the properties, including the land on which the new facility will be built, for an undisclosed amount to an undisclosed buyer.

The 260,000-sf building, at the corner of Lotus Dr. and Independence Parkway, is expected to open at the end of August on the same plot of land and will serve as the central operations facility in Plano for the company.

Read more at the Dallas Business Journal.

Top home builders in DFW 12-months ending 1Q 

(6/16/2015 8:00:00 AM)

DALLAS-FORT WORTH - The new home market in Dallas-Fort Worth still has a long way to go before it recovers from the recession.

Annual single-family home starts are only about half what they were in 2006. Despite huge demand, builders cannot start enough new houses.

DFW home builders with the most new home starts in the 12-month period ending with first quarter 2015 can be seen in the chart below.

Top DFW Home Builders
12 Months Ending 1Q 2015
Builder Home
starts
D.R. Horton 3,594
Lennar Homes 1,142
First Texas Homes 1,082
Highland-Huntington
Homes
1,059
Pulte-Centex Homes 855
Bloomfield Homes 770
K. Hovnanian Homes 668
American Legend-
Belclaire Homes
662
Darling Homes 606
John Houston Homes 584
Megatel Homes 580
History Maker Homes 567
Beazer Homes 560
Landon Homes 455
Meritage-Monterey
Homes
444


Don't miss the infograph! Wow it's a winner at the Dallas Morning News.

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

Wilmer: med-surg supplies to 800,000-SF Medline Industries 

(6/16/2015 7:00:00 AM)

WILMER - An Illinois-based manufacturer and distributor of health care supplies has decided to locate a large distribution center — in the Sunridge Business Park on I-45 — in southern Dallas County.

Medline Industries purchased 45 acres on the east side of I-45 for an 800,000-sf warehouse in Wilmer.

Medline currently has a smaller operation off Hampton Rd. south of I-20 in Dallas.

Sunridge Business Park is planned to have more than 8 million sf of industrial space.

Read more at the Dallas Morning News.

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

DFW: strong economy sets off retail action 

(6/16/2015)

DALLAS-FORT WORTH - Retail vacancy continues to drop in North Texas, with developers seeing strong preleasing of new space according Marcus & Millichap’s market stats for second quarter 2015.

Much of the new space — concentrated outside of I-635 continuing west up the Northwest Parkway 114 through Southlake, and down I-35 West into the Alliance Texas master-planned community — is being built within mixed-use projects like Frisco Station and Wade Park.

Cap rates are projected to be at “historically low levels,” with single-tenant rates in the 6 percent range and multitenant near 7 percent for the rest of the year, due to low interest rates and strong buyer competition.

Average asking rents are projected to grow by 2.6 percent year over year in 2015, slightly less than the 2.8 percent uptick in 2014. This year will see a continued decline in vacancy.

Local market highlights:

• In addition to Nebraska Furniture Mart’s large showroom and distribution center at the Grandscape mixed-use development in The Colony, the project will contain nearly 4 million sf of retail, dining, entertainment and attractions.

• The City of Allen approved plans for a new hotel and convention center at Watters Creek. The development will consist of 290 guest rooms, a 64,500-sf convention center and 1,000-car parking garage.

• Alamo Drafthouse is planning to open its second Dallas area movie theater in the Cedars neighborhood, capitalizing on the increasing number of residents living on Lamar St., and in downtown and Uptown Dallas. The 30,000-sf theater will include an upstairs bar with a patio and stage.

• San Antonio-based grocer H-E-B has been buying land in the Dallas/Fort Worth metro, acquiring at least 12 locations throughout the Metroplex. The grocer currently has no plans to open storefronts in the near future; however, these holdings indicate it could be making a push into the metro soon, joining several other grocery chains expanding in the region.

Read more at D Magazine and Marcus & Millichap

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

Lakeside Campus in Richardson sails to sale 

(6/16/2015)

RICHARDSON - Lakeside Campus consisting of the 414,543-sf, 16-story Tower Lakeside building at 2221 Lakeside Blvd. and the 399,788-sf, four-story building at 2201 Lakeside has been sold.

The buildings were constructed in the early 1990s adjacent to North Central Expressway between Campbell Rd. and Galatyn Pkwy. and are currently occupied by State Farm.

RealPage, a provider of on-demand software and software-enabled services to the rental housing industry, signed a lease with Cawley Partners for 400,000 sf simultaneous with the purchase. RealPage will occupy the space in third quarter 2016.

With the closing of the RealPage lease, Cawley Partners will focus on multitenant leasing of the smaller spaces left on campus and will look to carry out building upgrades.

Cawley Partners and GEM Realty Capital teamed up to purchase the two-building office park.

Read more at CoStar Group.

Be sure to link DFW Market Research, DFW NewsTalk to your own website or blog.

National home builder merge to create larger DFW market 

(6/16/2015)

DALLAS-FORT WORTH - The just announced merger of two big national home builders will mean more consolidation for the North Texas housing market.

Standard Pacific and The Ryland Group — both based in California — are merging in a deal to create a company worth more than $5 billion.

“Combined, they will be the seventh most active builder in DFW” said Ted Wilson, principal with Dallas-based housing analyst Residential Strategies Inc.

Both companies are major builders in North Texas.

Read more at the Dallas Morning News.

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

Fort Worth 240-unit Londonderry Apartments sold 

(6/16/2015)

FORT WORTH - Londonderry Apartments, a 240-unit apartment property located at 1401 Morrison Dr. has been sold.

The new owner plans to make interior and exterior renovations to make the property more competitive in its rental market. The location offers access to I-30 and is located near AT&T Stadium.

The subject property was built in 1980 and consists of 18 buildings comprising pitched composition roofs with wood frames and brick and siding exteriors on concrete slab foundations.

Amenities include a pool, a gazebo with a park area, washer/dryer connections, patios and outside storage.

Source: Marcus & Millichap

tag: DFW Market Research, DFW NewsTalk

Toyota Group spinoff to new HQ, 150 jobs in Dallas 

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

DALLAS - A new Toyota Group spinoff — Toyota Industries Commercial Finance Inc. — plans to open its new global headquarters in Dallas, following in the footsteps of sister company Toyota North America — which is building a massive North American corporate campus in Plano.

About 100 employees who used to work under Toyota Motor Credit Corp. in California — the financing arm for the Japanese automaker — have been offered jobs at the company's new headquarters, which are planned for Cypress Waters in North Dallas.

If the deal moves forward, Toyota Industries Commercial Finance would bring about 150 full-time, high-paying jobs to its new 60,000-sf office at an existing building at 8951 Cypress Waters Blvd., which is a massive $3.5 billion office, residential and retail project.

Read more at the Dallas Business Journal.

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

Top DFW home building communities 

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

DALLAS-FORT WORTH - The new home market in DFW still has a long way to go before it recovers from the recession.

Annual single-family home starts are only about half what they were in 2006. Despite huge demand, builders cannot start enough new houses.

Collin County cities dominate the top North Texas home building markets, based on annual starts ending in first quarter 2015 which can be seen in the chart below.

Top Home Building Communities
1Q 2015
Community Annual
starts
McKinney West 1,365
Frisco West 1,193
Fort Worth
287 corridor
989
Frisco East 984
US 380 corridor 829
Fort Worth Northwest 581
Prosper 558
Fort Worth Southwest 543
Little Elm 490
Allen West 445


Read more at the Dallas Morning News.

For free data on Housing see Dallas-Fort Worth-Arlington Market Research.

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

Frisco: concrete pours near Cotton Gin Rd. for residential 

(6/15/2015 6:45:00 AM)

FRISCO - Two projects will begin to transform the west side of Legacy Dr. from south of Cotton Gin Rd. north to Main St. in 2016.

Grand Park, the city’s nearby future 350-acre centerpiece park, is still waiting on lake permits from the U.S. Army Corps of Engineers before construction can start, however the 152-acre The Canals at Grand Park and 34-acre Park West residential developments are underway.

The Canals at Grand Park — a more than $300 million project — is a master-planned, multigenerational community by Arcadia Realty Corp. and Charter Properties

The first phase includes about 250 single-family homes, a senior living community and some of the development’s planned townhomes. The second phase will include an additional 140 single-family homes, along with additional multifamily townhomes and flats.

Park West was rezoned from a grocery-anchored retail area to provide for structured parking, a 320-unit apartment community and 115 dense, single-family detached homes.

The centerpiece of the development will be a generously sized water feature and specialty restaurants with specially designed patios built backing to the water.

Some homes could be constructed as early as third quarter 2016, and the apartment complex should be complete in early 2017.

Read more at Community Impact Newspaper.

tag: DFW NewsTalk, DFW Market Research (whole lotta free data, 'no ad')

Dallas Arbor Metals leases 98,000 SF from Brennan 

(6/15/2015)

DALLAS - Brennan Investment Group LLC, a private real estate investment firm that acquires, develops, and operates industrial facilities, announced its purchase, and simultaneous leaseback to Arbor Metals LLC located at 811 Regal Row.

Listed at $4.15 million, the 97,927-sf Class B property sits on 4.56 acres and had an 8.25 percent cap rate. This acquisition increases Brennan’s Southwest region portfolio to 21 buildings.

“The Dallas-Fort Worth market has demonstrated strong fundamentals, evidenced by 18 consecutive quarters of positive net absorption year-to-date, and an overall occupancy of 92.7 percent.

This quarter saw 6 million sf in absorption compared to 2.3 million sf in 4Q 2014,” said Troy MacMane, Managing Principal of Brennan Investment Group.

For more information see Brennan Investment Group and Stream Capital Partners LLC.

Walmart Supercenter increasing presence in Frisco 

(6/15/2015)

FRISCO - The Frisco planning and zoning commission approved a preliminary site plan for a new Walmart Supercenter on the southeast corner of FM 423 and US 380.

Along with the Walmart, the development includes three fast-food restaurants, convenience store gas pumps, a bank and three retail buildings.

“Each new store location is responding to Frisco’s rapidly growing demand for convenient access to affordable fresh produce, organic selections, fresh bakery and deli favorites, pharmacy and household merchandise,” Walmart Communications Director Anne Hatfield said.

Hatfield said the Supercenter is expected to open in 2017. The site plans will go before City Council for final approval.

There are three current stores in Frisco and three others including the one on FM 423 and US 380 in development.

Read more at Community Impact Newspaper.

N. Blue Mound Rd.: 72,000-SF self-storage sold in Fort Worth 

(6/14/2015)

FORT WORTH - All Star Self-Storage — located at 7400 North Blue Mound Rd. — a 72,775-sf self-storage facility has been sold.

The facility, resting on two parcels totaling 4.95 acres, consists of eight single-story buildings, and one two-story management office and residence.

The property also features perimeter fencing and lighting, wide concrete driveways, video surveillance and personalized keypad gated entry.

Source: Marcus & Millichap

NTREIS: Top nine North Texas cities by home sales May 2015 

(6/12/2015 7:55:00 AM)

DALLAS-FORT WORTH - North Texas Real Estate Information Systems released home sales facts for May 2015. 

  • The median price of existing single-family homes increased to $204,900, up 5.1 percent from April 2015.
  • Existing single-family home sales increased 11.9 percent from April 2015, with 7,880 units sold.
  • Condos decreased in price to $165,000, down -2.4 percent from April 2015.
  • Existing condo sales decreased -1.8 percent from April 2015, with 533 units sold.

    Dallas-Fort Worth Region Sales, Price Activity by Units Sold
    MLS Wide Units Sold
    May 2015
    Median
    Price
    May 2015
    Price Chg.
    Apr. 2015
    Sale Chg.
    Apr. 2015
    NTREIS* (single-family) 7,880 $204,900 5.10% 11.90%
    NTREIS (condo) 533 $165,000 -2.40% -1.80%
    Region Cities**        
    Fort Worth 946 $174,900 4.10% 14.30%
    Dallas 759 $319,990 7.00% 4.50%
    Arlington 346 $164,700 5.90% 12.30%
    Plano 290 $299,000 4.90% 8.60%
    Frisco 245 $339,000 2.90% 14.50%
    Garland 175 $149,987 5.30% 15.90%
    Grand Prairie 131 $170,000 -2.90% 1.60%
    Abilene*** 128 $141,950 5.00% -1.50%
    Flower Mound 125 $354,900 7.60% 21.40%


*North Texas Real Estate Information Systems
**Data include single-family only and represent select region cities that sold more than 115 units during May 2015.
***Abilene is part of the over 50 counties NTREIS covers.

See the full report from NTREIS.

tag: DFW NewsTalk

Second Woolley’s Classic Suites to Irving 

(6/12/2015)

IRVING - Avion Business Park, a 50-acre tract located at SH 114 and Royal Lane between Esters Blvd. and Freeport Pkwy. will welcome Woolley’s Classic Suites to its tenant mix.

This will be the second U.S. location for Woolley’s, a 250-room, full-service hotel, offering suites larger than industry average, with features like spacious desks and 46-inch wall-mounted flat-panel TVs.

Also at Avion, the American College of Emergency Physicians recently broke ground on a three-story, 57,000-sf headquarters; the remaining 33 acres in the development is suitable for corporate office campuses.

Construction on Woolley’s Classic Suites will begin this fall, with completion scheduled for winter 2016.

Read more at GlobeSt.com.

DFW shopping space vacancies fall while leasing grows 

(6/11/2015 6:55:00 AM)

DALLAS-FORT WORTH - Strong leasing is pushing North Texas shopping center vacancies to the lowest level since before the recession, according to a new report by Marcus & Millichap.

The commercial real estate firm says that only about 7 percent of DFW retail space is empty at midyear and vacancies are expected to fall further through the end of 2015.

Almost 90 percent of the retail construction underway in the DFW area is already rented to tenants.

Developers have finished about 4.6 million sf of new shopping space during the 12 months ending with June. The largest chunk was in the 560,000-sf Nebraska Furniture Mart store in the Colony.

For all of 2015, Marcus & Millichap estimates about 3 million sf of new shopping space will open its doors in North Texas — about the same as in 2014.

Read more at the Dallas Morning News.

See Marcus & Millichap Local Retail Reports for free registration.

tag: DFW Market Research (retail, office, industrial, multifamily), DFW NewsTalk retail

30-Story Windrose condos to $2B Legacy West 

(6/11/2015)

PLANO - A 30-story condominium tower on Headquarters Dr., will bring luxury living to the $2 billion Legacy West development in West Plano.

Called Windrose at Legacy West, the tower will be next door to Liberty Mutual’s new buildings and just across the street from the $400 million Legacy West urban village, which is under construction with shops, restaurants, apartments and offices.

The residential units will range from around 900 sf for the smallest one-bedroom to more than 2,800 sf for the penthouse.

The smallest units start at more than $500,000.

The condo tower will join a 300-room, $82 million Renaissance Hotel, 280,000 sf of retail and restaurant space, hundreds of apartments and about 240,000 sf of offices being built along the west side of the tollway, south of SH 121.

The overall development is Texas’ largest new mixed-use project and will start opening in about a year.

Read more at the Dallas Morning News.

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

Fort Worth's Hunter Plaza's new look, new idea 

(6/11/2015)

FORT WORTH - Hunter Plaza, which sits on a piece of prime real estate in downtown Fort Worth, is undergoing a $29 million makeover that will transform the 11-story building into a mix of public housing and regular rental units for the Fort Worth Housing Authority.

Of the 114 one-bedroom and 50 two-bedroom apartments, only 25 will be public housing; the other market-value units will be a source of revenue for the housing authority.

One-bedroom apartments at Hunter will rent for $714 to $924 per month, and two-bedroom units will lease for $999 to $1,300.

Read more at the Fort Worth Star-Telegram.

North Texas home prices, sales take big jump 

(6/10/2015 7:40:00 AM)

DALLAS-FORT WORTH - North Texas home prices jumped by 14 percent in May — one of the largest year-over-year gains ever for the area.

Median home sales prices hit a record $215,000 last month for preowned single-family homes sold by real estate agents.

Home sales were up 6 percent from May 2014 with 9,484 properties sold.

It was the largest one-month sales total ever for North Texas, according to data from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems.

North Texas home prices have shot up by more than 40 percent during the last five years, thanks to record economic growth in the region and an historic shortage of properties to purchase.

Read more at the Dallas Morning News.

tag: Dallas-Fort Worth-Arlington NewsTalk; DFW Market Research

Conifer grows! Frisco HQ expands; adding 660 new jobs 

(6/10/2015 7:08:00 AM)

FRISCO - Frisco-based Conifer Health Solutions has significantly expanded its North Texas headquarters, with plans to add an estimated 660 employees to its corporate office.

In February 2014, Conifer moved into its new four-story, 199,800-sf headquarters building, which was developed along the Dallas North Tollway.

Company executives planned for the building to last three or four years, but the rapidly growing business caused the plans to change.

Conifer recently signed a new lease for 125,900 sf of office space in the former T-Mobile building at Duke Bridges.

Conifer currently has 1,050 corporate employees at its headquarters building. James Enna, Conifer vice president of finance and accounting, said the company plans to increase its footprint in Frisco by 70 to 80 percent.

The new space gives Conifer the ability to add more than 660 new jobs to Frisco.

Read more at the Dallas Business Journal.

North Texas: three companies will layoff 295 workers 

(6/10/2015)

DALLAS-FORT WORTH - The Texas Workforce Commission announced layoffs involving a number of North Texas companies, including Aramark, Horizon Lines Inc. and Hodges Trucking that will result in the loss of 295 jobs.

Aramark will lay off 114 employees working within Allen Independent School District at the end of the month. GCA Services Group will take over Aramark’s role, and the company may or may not make an offer to employees to keep their positions.

Horizon Lines, a shipping and logistics company in Dallas, also will be laying off 114 employees in Irving at the end of July. The company recently was acquired by Matco, with the deal closing on May 29.

Hodges Trucking in Alvarado will be laying off 67 employees on July 25. Hodges is a major oilrig moving company, with a fleet of more than 280 trucks.

Oil price declines in the past year have led to many layoffs in the oil patch as companies have cut back on drilling activity.

Read more at the Dallas Business Journal.

South Dallas: Amazon fulfillment prime for I-45 at I-20 

(6/9/2015 11:00:00 AM)

DALLAS - Amazon's plans to build a 500,000-sf fulfillment center in southern Dallas have been confirmed and is likely to open by next year at the latest.

“We are proud to continue creating hundreds of new full-time jobs in Texas that offer wages 30 percent higher than traditional retail stores and include comprehensive benefits on day one, bonuses and stock awards,” says Mike Roth, Amazon’s vice president of North America operations

Amazon says the project, a joint involving Clarion Partners and Trammell Crow Company aimed at the northwest corner of Interstates 45 and 20, will “process smaller items, such as books, electronics and consumer goods.”

Read more at the Dallas Morning News.

Cowtown smells of baked breads in 26,000-SF Fresh Market  

(6/9/2015)

FORT WORTH - The Fresh Market kicks up its Cowtown presence in June by unveiling its eighth store statewide.

Located in the WestBend shopping center just west of the Fort Worth Zoo at 1751 River Run, the specialty grocer will join a development already featuring Zoe’s Kitchen and East Hampton Sandwich Co.

“We are excited to open our new store in Fort Worth and to expand our reach into Texas,” said Sean Crane, interim CEO with Fresh Market.

The new store promises more than 26,000 sf of culinary products, including a bakery that produces 30 freshly baked breads and 14 different pie varieties daily and a full service meat counter with freshly ground beef.

The Fresh Market is bringing about 90 new jobs to the area, most of which are being filled locally.

Doors open Wednesday, June 17, 2016.

Read more at the Fort Worth Business Press.

NRH mattress firm near Iron Horse to GM accessories 

(6/9/2015)

NORTH RICHLAND HILLS - Accessory distributor Southwest ADI and Frank Kent Motor Co. will convert a former 15-acre Sealy bedding plant into a corporate headquarters.

The location will be the companies’ General Motors aftermarket accessory business and their Texas training facility.

Frank Kent Motor Co., which owns Southwest ADI, bought the 125,000-sf facility at 6550 Wuliger Way. The 15-acre property just north of NE Loop 820 near Iron Horse Blvd. had been vacant for 18 months.

The new location will employ about 50 full-time employees and provide space to train up to 75 people from the dealers serviced by Southwest ADI — the exclusive automotive accessories distributor for GM brands in the Dallas-Fort Worth, Austin, San Antonio, Houston and the Rio Grande Valley areas.

An economic incentive agreement with the city requires Frank Kent Motor and Southwest ADI to create at least 40 jobs by the end of the year, said Craig Hulse, director of economic development for North Richland Hills.

The company plans to employ about 50 people by the end of the year and invest $2 million into plant improvements and equipment at the headquarters and training facility, Hulse said.

Read more at the Dallas Business Journal.

DFW: May median home price reaches record $215,000 

(6/9/2015)

DALLAS-FORT WORTH - Home prices climbed an impressive 14 percent in May, rising above $200,000 for the second straight month, according to a new report from Texas A&M University’s Real Estate Center and the North Texas Real Estate Information Systems.

The hike placed the median sales price for existing single-family homes at a record $215,000, up from $207,000 in April and $189,900 in May 2014.

The largest gain in the median price came in southeast Fort Worth, where prices rose 45 percent from a year ago, to $43,500.

The most expensive median sales price was in Southlake at $625,000, down 4 percent from May 2014.

The North Texas housing market continues to face low inventories of homes for sale. Homes sold in May were on the market 42 days, an 11 percent drop.

Job growth in North Texas has contributed to the tight housing market.

Read more at the Fort Worth Star-Telegram.

tag: Housing under Dallas-Fort Worth-Arlington Market Research

Allen: Will TIG convert corn to $31M? 

(6/8/2015 11:00:00 AM)

ALLEN - Plano-based development firm TIG Real Estate Services Inc. plans to build a new $31 million office building along the Sam Rayburn Tollway, which is the start of a large business park.

The six-story, 154,000-sf building, called Ridgeview Business Center, will sit on eight acres TIG has optioned from the Allen Economic Development Corp. between Stacy Rd. and North Watters Rd.

"There's currently about 1,000 acres of corn on the south side of the Sam Rayburn Tollway and North Central Expressway, which is some of the best developable property in the city," stated Brad McJunkin, TIG's director of acquisitions and development.

This is the first office building being planned for development in this corridor in Allen.

Construction will begin as soon as TIG preleases a quarter of the building, or 37,500 sf of space.

Read more at the Dallas Business Journal.

Are you being served? Butler Brothers redo set in Dallas 

(6/8/2015 9:45:00 AM)

DALLAS - The former downtown Dallas warehouse, Butler Brothers Building, near City Hall is expected to be transformed over the next year-and-a-half from an eyesore into a hotel and residences.

Mike Sarimsakci of Alterra — an international development company based in Turkey — stated that if all goes well the residential phase will be done by April.

The hotel, which will be operated by Marriott, should be finished by December 2016.

It will still be called the Butler Brothers Building, named for the Chicago wholesaler of five-and-dime goods that built the warehouse more than a century ago.

Read more at KSWO.com

RealPage turns to 400,000-SF Richardson office 

(6/8/2015)

RICHARDSON - RealPage apartment data firm has leased 400,000 sf of office space in the Telecom Corridor for its new headquarters.

RealPage will move 1,400 employees into a building at 2201 Lakeside Blvd. near the North Central Expressway.

The new lease will begin in September 2016 and expire in 2028, with two, five-year options to renew.

“We have a long history in the Dallas area, and this move to consolidate RealPage’s corporate headquarters in the Richardson Telecom Corridor ensures that we will continue to call Dallas and Richardson our home for many years to come,” said Steve Winn, CEO of RealPage.

Read more at Realty News Report.

Irving: Canadian buys 221,941-SF Waterway tower 

(6/8/2015)

IRVING - Sun Life Assurance Co., a Canadian investor bought the 13-story Waterway Las Colinas office tower.

The 221,941-sf building at 433 E. Las Colinas Blvd. near SH 114 was built in 1982.

Sun Life purchased the building from Florida-based Codina Partners who has owned the building since 2012.

Read more at the Dallas Morning News.

Don't forget! Visit Dallas-Fort Worth-Arlington NewsTalk for more office news.

Frisco VW revs engine with biggest dealership in U.S. 

(6/8/2015)

FRISCO - Hendrick Volkswagen Frisco, the largest freestanding Volkswagen dealership in the United States, is now open in Frisco.

Located on 14 acres at 5010 SH 121, the two-story facility features 63,000 sf of space and 31 service bays.

Price of construction is estimated at $9.5 million.

The building integrates the Volkswagen corporate look with the required image standards of the City of Frisco, including tile, stucco and white stone.

Read more at the Fort Worth Business Press.

DFW Metroplex: Group acquires 1,598 multifamily units 

(6/5/2015 8:00:00 AM)

DALLAS - Balfour Beatty Communities recently completed the acquisition of a five-apartment community portfolio in a joint venture with equity partners Block Multifamily Group and Herbert Management Corporation.

Balfour Beatty Communities will perform all property management services across the portfolio through its Multifamily Division, and Block Multifamily Group will be responsible for all asset management services.

The acquisition portfolio consists of the following apartment communities:

• Madison at Round Grove (404 units) 201 E. Round Grove, Lewisville;

• Madison on the Parkway (376 units) 19002 Dallas Parkway, Dallas;

• Wimberly Apartments (372 units) 4141 Horizon North Parkway, Dallas;

• Wimbledon Oaks (248 units) 1802 Wimbledon Oaks Lane, Arlington, Texas

• Villas of Josey Ranch (198 units) 2050 Keller Springs Rd., Carrollton, Texas

Source: BusinessWire.

CoreLogic to relocate 500 jobs to $68M Cypress Waters 

(6/5/2015)

DALLAS, IRVING - California-based housing research firm CoreLogic confirmed it would relocate 500 of its North Texas workers into a new $68 million campus at Cypress Waters.

CoreLogic has established it plans to have Dallas-based Billingsley Co. build a new 327,183-sf office building within the Offices of Cypress Waters — at the northwest corner of Hackberry Rd. and Ranch Trail — which will serve as the operations site in Dallas-Fort Worth.

The new building is expandable to more than 400,000 sf of office space to handle future growth at CoreLogic, if needed.

Along with CoreLogic's new building, Billingsley Co. plans to break ground on a new speculative four-story, 215,000-sf office building at Cypress Waters by the end of the month.

Parts of the big mixed-use project are located both in Dallas and Irving.

Read more at the Dallas Business Journal.

Steakley Chevy drives off: retail complex coming to Dallas 

(6/5/2015)

DALLAS - Houston-based developer Ainbinder Co. has acquired the former Steakley Chevrolet site on Northwest Hwy. east of North Central Expressway.

The new owners plan to build a major retail complex on the 13-acre property, which stretches from near Skillman St. to Abrams Rd.

Initial plans for the retail project, High Point Center, call for between 160,000 and 170,000 sf of multiple store space.

Construction will not start until next year at the earliest.

Read more at the Dallas Morning News.

tag: Dallas-Fort Worth-Arlington NewsTalk; DFW Market Research

Denton: Shops of Highland Village's $3M facelift underway 

(6/3/2015)

DENTON - Trademark Property Co. has begun construction on a $3 million renovation of The Shops at Highland Village.

The 389,090-sf Whole Foods-anchored shopping center will get upgraded building exteriors, landscaping improvements and new amenities and signage for shoppers.

Trademark Property CEO Montesi wants "to make the Shops at Highland Village a more-inviting environment to shop, dine and gather."

Read more at Dallas Business Journal.

Balfour Beatty sails into 398-unit Townlake of Coppell 

(6/2/2015 8:00:00 AM)

COPPELL - Balfour Beatty Communities has acquired Townlake of Coppell, a 398-unit garden style apartment community situated on 17.5 acres.

Balfour Beatty Communities completed the purchase through a joint venture with JLL Income Property Trust.

Balfour Beatty Communities will self-perform all property management services through its Multifamily Division.

Strategically located in northwest suburban Dallas, Townlake of Coppell consists of one-, two- and three-bedroom units that range from 675 sf to 1,100 sf.

"The property boasts a strong occupancy history, desirable location in the award-winning Coppell Independent School District and proximity to the DFW airport and downtown Dallas — factors that will continue to position Townlake as a strong performer," said Chris Williams, president of Balfour Beatty Communities.

Read more at Balfour Beatty Communities.

How three Texas metros fit in the U.S. retail mix 

(6/2/2015)

DFW, HOUSTON, SAN ANTONIO - The U.S. economy remained sluggish in first quarter 2015 as the U.S. gross domestic product (GDP) increased at an annualized rate of 0.2 percent, a further slowdown from the already sluggish 2.2 percent rate of growth recorded in fourth quarter 2014.

Despite the temporary economic lull in the first quarter, the Consumer Confidence Index as measured by the Conference Board rose above 100 for the first time since 3Q 2007.

Notably, cap rates for urban/storefront assets averaged 5.0 percent, providing further evidence of the sector’s popularity.

Geographically, Manhattan and Los Angeles led all other U.S. markets in first quarter retail transaction volume by a sizeable amount, totaling $6.5 billion and $6.2 billion, respectively.

Other top five markets included Chicago, Dallas and the outer boroughs of New York City, all of which recorded transaction volume of $2.0 billion or more.

U.S. Market Statistics*
Market** Inventory
(SF)
Vacancy
Rate
YTD
Net
Absorption
YTD
Deliveries
(SF)
Under
Const.
(SF)
Avg.
Asking
Rent
($/PSF/
YR)
Chicago 511,826,793  8.4% 15,195 215,888 2,133,460 $15.85
Dallas-Fort Worth 389,652,139 6.6% 1,294,563 947,892 3,484,073 $14.19
Houston 350,795,981 5.6% 598,126 628,889 1,667,297 $15.28
Atlanta 349,588,959 8.3% 212,045 32,839 531,807 $12.63
Phoenix 217,289,781 9.7% 545,110 385,110 548,729 $13.85
San Antonio 124,120,762 5.3% 23,137 63,817 243,167 $14.29
Total Market*** 10,129,499,248 6.1% 11,614,083 9,476,149 42,995,069 $15.60


*Ranked by inventory
**Select U.S. markets. Retail properties only. Does not include retail space in non-retail buildings (i.e. office, condo, apartment, etc.)
***Total Market represent all U.S. markets by CoStar Group.

See Cushman & Wakefield's full list U.S. Retail Snapshot 1Q 2015 (PDF) page 3.

Rushing to build offices in West Plano, Frisco for Toyota 

(6/1/2015 11:00:00 AM)

WEST PLANO, FRISCO - One of the last empty corners in Legacy business park on the Dallas North Tollway is attracting development plans.

Stream Realty Partners is gearing up to build a 12-story office tower at the southwest corner of Tennyson Parkway and the tollway.

The company’s Platinum Tower will be next door to a five-story building Stream is constructing.

The 271,000-sf project is one of almost a dozen office developments in the works on the tollway in West Plano and Frisco — more than in any other area of North Texas.

Developers and building investors attribute the boom in part to what they call “the Toyota effect.”

Since Toyota Motor Corp. announced last year that it would move its North American headquarters to West Plano, office developers have been scrambling to get projects going in the area.

The global automaker’s 2.1 million-sf headquarters campus on Legacy Dr. is the largest new office project in the Dallas-Fort Worth area.

Right up the road at the tollway and Headquarters Dr., Liberty Mutual Insurance will be moving into a high-rise office complex with more than 1 million sf.

Another nearby building opening this year will house the headquarters of FedEx Office.

Together the projects are expected to house almost 12,000 workers and generate additional business in the surrounding area.

Read more at the Dallas Morning News plus you get the 'Office Projects in the Works' interactive map!

Dallas Market Research (updated as soon as we can get the 'stuff); DFW NewsTalk

14-Year-Old Edgemere’s $36M overhaul 

(6/1/2015)

DALLAS - One of Dallas’ most exclusive seniors communities is spending $36 million on upgrades and expansion.

Work will start this summer at the Edgemere complex on Northwest Hwy. west of Hillcrest Rd.

The additions to the 16-acre community include a 6,000-sf performing arts center, eight assisted-living apartment homes, 12 memory-support suites, 15 skilled-nursing private suites and an underground parking garage.

Edgemere’s dining venues, common areas and outdoor plaza and courtyards will also be renovated. Construction will take almost two years.

Edgemere currently has 304 independent-living apartments, 60 assisted-living apartments, 31 memory-care suites and 72 private skilled-nursing suites. It is operated by Senior Quality Lifestyles Corp.

Read more at Dallas Morning News.

Victory Real Estate conquests — 22 acres in Fort Worth 

(5/30/2015)

FORT WORTH - Victory Real Estate Group has secured 22 acres at Alliance Town Center for a mixed-use development planned to feature a big box retailer, medical retailers and pad sites.

The project, on the northwest corner of I-35W and Heritage Trace Parkway in north Fort Worth, is expected to reach completion by the end of 2015.

The property is part of the 18,000-acre AllianceTexas development, anchored by Best Buy, Belk, JC Penney, Sam Moon and more.

Read more at the Fort Worth Business Press.

Same verse: Amazon hiring 450 in Haslet 

(5/29/2015)

HASLET - Amazon.com is hiring about 450 full-time positions in addition to the 1,500 people that are already employed there.

These jobs are part of 6,000 that Amazon said it needs to fill at 19 of its more than 50 fulfillment centers in the U.S.

In April, Amazon said it needed to hire 400 more people at its 1.1 million-sf facility in Haslet, which is bigger than its Coppell center. Both opened in 2013.

Haslet — which is near Alliance in Fort Worth — handles the bigger volumes because it is where small items are shipped whereas big items like TVs and outdoor grills are shipped from Coppell.

Dallas-Fort Worth was one of the first markets where Amazon offered its one-hour and two-hour Prime Now delivery service.

More background information? See Amazon adds another 400 jobs to Haslet facility.

Read more at the Dallas Morning News.

Dallas-Fort Worth Market Research

Exclusive: $100M retail project headed to Fort Worth 

(5/27/2015 11:00:00 AM)

FORT WORTH - An Irving-based developer plans to begin work on a $100 million retail-anchored development after snapping up 22 acres of land in the growing north Fort Worth market.

The development firm, Victory Real Estate Group, plans to bring hundreds of thousands of square feet to the region at Heritage Trace Parkway and I-35W, stated Tony Ramji, the firm's president and CEO.

"We are talking to two 100,000-sf-plus users for that site," Ramji said. "We have potentially three junior box retailers and intend to have about 70,000 sf of retail with some medical center.”

Ramji is scheduled to close on the acreage by mid-June.

The growth of residential homes along the I-35W corridor in north Fort Worth will help support the new retail development, including Hillwood Communities' $1 billion, 1,150-acre master-planned development called Harvest.

Read more at the Dallas Business Journal.

DFW Market Research, DFW Retail NewsTalk

Euless's Southgate Plaza's new tenant: DFW Airport HQ 

(5/27/2015 10:00:00 AM)

EULESS - Euless is now home to Dallas-Fort Worth Airport’s administrative headquarters, which also means the city is getting a new hotel catering to business travelers, along with several restaurants.

Employees have been moving into the three-story 154,000-sf energy-efficient building, which will house many who were scattered among ten buildings on airport property.

John Terrell, director of development for the airport, described how the headquarters is anchoring the 32-acre mixed-use Southgate Plaza development, which will include a 137-room Hyatt Place Hotel, an Einstein Bros. Bagels, other restaurants and a U.S. post office that is relocating from the west side of the airport.

“It is a matter of pride that the facility is in our city,” said Assistant City Manager Chris Barker. “We have so many of our citizens employed by the airport, by the airlines or by other businesses associated with the airport.”

Read more at the Fort Worth Star-Telegram.

At Home's doorstep to 108,000 SF in Fort Worth 

(5/27/2015)

FORT WORTH - Plano-based home-decor retailer At Home plans to open its first local store in 15 years at 2201 Porter Creek Dr. It’s also stepping up its product mix after its recent conversion from Garden Ridge.

At Home is building a 108,000-sf store opening this fall.

The company has 88 stores in 24 states and plans to add 19 new stores by year’s end, said spokeswoman Stacey Sullivan. With this batch of stores, At Home will open stores for the first time in Iowa, Louisiana, New Mexico, Utah and Wisconsin.

The home superstore carries 50,000 items with a big seasonal business at Christmas, and boasts that it has the largest selection of artificial trees.

Read more at the Dallas Morning News.

No-ads! DFW Market Research and DFW retail NewsTalk

Denton: Texan city destined to grow 

(5/27/2015)

DENTON - The latest estimates from the U.S. Census Bureau indicate that the staggering growth of small and medium-size cities across the Dallas region shows no sign of slowing; Denton is no stranger to growth.

With the University of North Texas, Texas Woman’s University, burgeoning public schools and large corporate businesses making their home here, the city’s population continues to expand.

The U.S. Census shows Denton’s estimated 2013 population climbing to 123,099 residents, a 7.8 percent increase from 2010.

Denton County’s growth shows a much larger jump with the 2013 population ballooning to 753,363, a 13.7 percent increase from 2010.

In a quarterly report for Denton ISD released in February 2014, Templeton Demographics and Metrostudy show the number of households in the Denton school district swelled from 47,811 in 2010 to 52,288 in 2014.

The city is not alone in experiencing growth. Outlying towns in Denton County have also experienced a significant increase in residents.

Texas also had five of the top ten cities in population gain, and six of the 13 fastest growing by percentage — San Marcos, Georgetown, Frisco, Conroe, McKinney and New Braunfels.

Read more at the Denton Record-Chronicle.

Preston Stonebrook in Frisco flows to “sold”  

(5/27/2015)

FRISCO - Venture Investment Partners has purchased Preston Stonebrook — a 58,594-sf retail center located on the southwest corner of Preston Rd. and Stonebrook Pkwy. — from Dunhill Partners.

Tenants in the fully leased project include Hallmark, Le Peep, PrimaCare, Republic Title and Taco Bell.

The new investment group also recently bought Hulen Fashion Center, a 181,620-sf specialty center in Fort Worth.

The acquisitions of Preston Stonebrook and Hulen Fashion Center are the first of many more to come throughout DFW and the state of Texas, Venture’s Bo Brownlee said in a statement.

Read more at the Dallas Morning News.

CBRE: DFW Multifamily Marketview 1Q 2015 

(5/26/2015)

DALLAS-FORT WORTH - According to CBRE Marketview first quarter 2015, 2014’s strong momentum continues into 2015 for DFW’s multifamily market.

In 1Q 2015 over 5,700 units were absorbed, an increase of over 5,000 units from 4Q 2014.

For the fourth consecutive quarter, average monthly rents remained over $1.00 per sf for DFW. The quarter over quarter average rent rose by $0.02 per sf, a 1.7 percent increase. Quarter over quarter, the number of new units in 1Q 2015 decreased by 1,058 units from 4Q 2014.

Across the Dallas/ Fort Worth Market, occupancy increased by 20 basis points to 92.7 percent at the end of 1Q 2015, bouncing back from seasonal decline in leasing activity during 4Q 2014.

DFW Multifamily Market Overview
Markets Property
Count
Unit
Count
Mo. Rent
($/SF)
Occ.
(%)
Net
Absorption
Units
Under
Const.
Units
Const.
Delivered
Units
Dallas total 1,982 455,107 $1.08 92.7 4,347 13,771 2,359
Fort Worth
total
846 176,864 $0.96 92.7 1,418 2,810 120
DFW total 2,828 631,971 $1.06 92.7 5,765 16,581 2,479


See Dallas-Fort Worth Multifamily MarketView 1Q 2015 (PDF).

See the submarkets in Dallas and Fort Worth including Uptown/Oaklawn/Highland Park and Northwest Fort Worth/Saginaw/Eagle Mountain in the full report.

Need more apartment data? Don't miss out on free DFW Market Research and DFW apartment NewsTalk.

Plano: Gaedeke Group starts One Legacy West project 

(5/26/2015)

PLANO - Gaedeke Group is ready to break ground on the 327,856-sf One Legacy West office project in West Plano.

The office project will be constructed at the southeast corner of SH 121 and Legacy Dr., right across the street from Toyota’s new headquarters that is going up.

The concrete-and-glass tower is one of two buildings Gaedeke Group plans on the 11-acre building site it purchased earlier this year.

When Gaedeke Group’s project starts, more than $1 billion of development will be underway in the 240-acre Legacy West mixed-use development located at the southwest corner of SH 121 and the Dallas North Tollway.

More background information? See Plano’s Legacy West draws Dallas buyer for 11-acre tract.

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

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