NewsTalk Texas

Dallas-Fort Worth-Arlington

KDC underway on second $1.6B Richardson project 

(9/12/2014 6:58:00 AM)

RICHARDSON - Developer KDC has started construction on the next phase of its $1.6 billion CityLine project in Richardson.

Work has started on the east side of Plano Rd. where KDC is building a fourth, 500,000-sf office tower for State Farm Insurance.

The office tower is scheduled to be completed in mid-2016.

Additional retail space and apartments are also planned in the same area at the southeast corner of Plano Rd. and Bush Turnpike.

Construction is getting closer to completion on the first three 21-story, 15-story and 13-story State Farm office buildings on the south side of Bush Turnpike next to DART’s commuter rail station.

State Farm will take possession of one of the buildings at the end 2014, and thousands of workers will start relocating to the buildings in early 2015.

When completed, the $1.5 billion, 186-acre CityLine project is planned to contain about 6 million sf of office space, two hotels, 3,925 multi-family residential units, 300,000 sf of grocery, restaurant, entertainment and retail space and three parks.

Read more at the Dallas Morning News.

306,000-SF Granite Park Five underway in Plano 

(9/12/2014)

PLANO - Granite Properties has broken ground on Granite Park Five, a 306,000-sf office tower in its Granite Park development on the Dallas North Tollway.

The 12-story office building will be finished in late 2015.

The tower will be about the same size as the Granite Park IV tower, which opened June 2014 on the east side of the tollway, just south of SH 121.

“There is unprecedented growth in the north Plano market,” said Granite Properties chief operating officer Greg Fuller. “We’re already negotiating with several prospects for space at Granite Park Five.”

Granite also recently opened a 300-room Hilton hotel in the development.

Read more at the Dallas Morning News.

For more on the Granite Park Hilton, see previous story Plano: 263,000-SF Granite Park Hilton debut set.

Lawyers lock down 145,000 SF in Dallas' Chase Tower 

(9/12/2014)

DALLAS - Local law firm Locke Lord has signed a lease that will move the firm to new offices within downtown’s Chase Tower at 2200 Ross Ave.

For 26 years, Locke Lord has occupied the same space, but will now move to 145,000 sf of new space on higher floors in the 55-story tower.

The 15-year lease will move the law firm’s main offices to floors 24-28, and the back-office operations will move to the fourth floor.

Locke Lord was convinced to stay in part because Chase Tower owner Hines is about to begin renovations on the lobby and is currently constructing a fitness center in the rotunda building.

The significance of the Locke Lord deal is even larger since the firm announced it will merge operations with Boston-based Edwards Wildman Palmer. The combined companies by early next year will become Locke Lord Edwards, the largest law firm based in Dallas.

Read more at the Dallas Morning News.

In DFW, demand and rent are rising together 

(9/12/2014)

DALLAS-FORT WORTH - A number of real estate developers throughout DFW are focused on getting apartments out of the ground as rents continue to climb.

Apartments are now prime investment opportunities.

Part of the reason for the demand is the number of jobs being added to North Texas.

DFW is one of the fastest-growing regions in the United States, with 120,800 jobs added from July 2013 to this July, according to the U.S. Bureau of Labor Statistics.

Not everyone can buy a single-family home, causing rising apartment demand along with rising rents. In the last year, DFW property owners have upped their rents 3.9 percent, according to MPF Research.

New apartments command a monthly rent of $1,300, with the latest additions in Dallas’ urban core running in excess of $1,800.

Historically, Dallas renters paid 20.7 percent of their income toward renting a home, according to Zillow research. Now, Dallas renters are spending 27.4 percent of their income on rent.

Read more at the Dallas Business Journal.

Dallas: SMU $25M gift drives 40,000-SF Simmons building 

(9/12/2014)

DALLAS - Southern Methodist University has broken ground on the new Harold Clark Simmons Hall, the second building for the Annette Caldwell Simmons School of Education and Human Development.

The 40,000-sf facility on Airline Dr. is named for Simmons after the university received a $25 million gift from Annette Caldwell Simmons and the late Harold C. Simmons.

The three-story building will include classrooms, labs, offices and conferences rooms. Construction is scheduled for completion by late 2015.

Read more at the Dallas Business Journal.

NAR DFW housing market 2Q 2014 

(9/11/2014 7:59:00 AM)

DALLAS - Second quarter 2014 housing data have been released for the DFW market by the National Association of Realtors.

NAR DFW Housing Market 2Q 2014
Price Activity DFW U.S. Local Trend
Current Median Home Price (2Q 2014) $191,300 $212,267 Prices are up from a year ago,
but price growth is slowing.
1-year (4-quarter) Appreciation (2Q 2014) 5.2% 4.6%
3-year (12-quarter) Appreciation (2Q 2014) 26.3% 25.8%
3-year (12-quarter) Housing Equity Gain* $39,800 $43,600 Gains in the last 3 years have
extended the trend of positive
price growth after the recession.
7-year (28 quarters) Housing Equity Gain* $34,800 -11,500
9-year (36 quarters) Housing Equity Gain* $42,200 -$8,000

*Equity gain reflects price appreciation only.

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

Click to see the full report.

Also see more Housing data under DFW Market Data Sources.

Little Elm's $600M Union Park kicks off 

(9/11/2014)

LITTLE ELM, DENTON COUNTY - After eight months of planning, Dallas-based Hillwood Communities has kicked off its massive $600 million master-planned community along the US 380 corridor that will bring 2,400 homes to North Texas.

The 787-acre community — named Union Park — will include a 30-acre park with ponds, trails and woods.

"Our first phase will include 400 home lots, which is a big phase," Fred Balda, president of Hillwood Communities. "I think the bar has been raised for master-planned communities in this area. There's an incredible amount of options for buyers right now and there's a lot of tours hitting this corridor."

Plans for the project include an amenity center and an amphitheater, which will serve as a central gathering place for the community's residents.

And a food truck area, ball fields, camping areas, hike-and-bike trails and other programming to give this project a neighborhood environment.

Hillwood also wanted more than twice the required green space at Union Park to give residents a small-town community feel and to encourage socializing.

Read more at the Dallas Business Journal. Listen to Podcast 227 for this story and more.

See DFW NewsTalk Texas. Everyone's talking about it!

Tex-Chem Corp. grabs 89,000 SF in Dallas 

(9/11/2014)

DALLAS - American Tex-Chem Corp. has purchased a 88,950-sf industrial building at 5201 Catron Dr.

The Class A building was built in 2007. Some key features of the building include a 24-foot clear height and front, rear, and side loading.

The building is in the East Dallas/Mesquite Industrial submarket.

Read more at CoStar Group.

Dallas: Patients to UT Southwestern $800M hospital Nov. 15 

(9/10/2014 7:15:00 AM)

DALLAS - The $800 million University of Texas Southwestern Medical Center hospital under construction at 5323 Harry Hines Blvd. will open to patients on November 15. The complex is officially named the William P. Clements Jr. University Hospital.

Groups of 150 to 180 employees and physicians per day are starting to train on how to use the building.

The hospital will have about 30,000 patient encounters per year, with about 500 workers employed at the facility.

The hospital’s 24 operating rooms are “the biggest in the state,” said John Warner, CEO of UT Southwestern University Hospitals. That allows for teams of surgeons and nurses operating on the patient and for other teams to observe, since UT Southwestern is an academic medical center.

The hospital replaces the outdated St. Paul University Hospital.

Some of the hospital’s other vital stats:

•  1.3 million sf
•  460 single-patient rooms
•  40 emergency treatment rooms
•  24 surgical suites
•  12 procedure rooms
•  72 adult intensive-care rooms
•  16 labor and delivery rooms
•  30 neonatal ICU rooms
•  6 endoscopy suites
•  2 nuclear medicine rooms

Read more at the Dallas Business Journal.

Dallas third in U.S. for multifamily construction 

(9/10/2014)

DALLAS - Dallas is ranked third in the United States for multifamily construction, according to Axiometrics.

The Dallas-based apartment market research firm compared building permits for apartments and condominiums for the 12-month period ending July 2014.

Dallas had 16,735 building permits during the period, putting it behind New York and Houston, which were first and second, respectively.

Along with Houston and Dallas, Austin also made the top ten construction list.

North Texas has been one of the top apartment building markets in the country for the last few years thanks to the area’s high employment and population growth.

Almost 30,000 apartments are currently being built in Dallas-Fort Worth.

Read more at the Dallas Morning News.

46-Acre sale to drive retail at Prosper's Windsong Ranch 

(9/10/2014)

PROSPER - The $1.2 billion Windsong Ranch community will get a 300,000-sf retail project at the northwest corner of Gee Rd. and US Hwy. 380.

United Commercial Development has purchased 46 acres at the entrance of the Windsong development for the project.

A 125,000-sf grocer is expected to anchor the shopping center. The project is the first commercial development in Windsong Ranch, which is planned to have more than 3,000 homes.

The Kroenke Group is also a partner in the retail project.

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

Panda Energy climbs to top of Farmers Branch office building 

(9/10/2014)

FARMERS BRANCH - Panda Energy has leased 39,000 sf for its headquarters in the Providence Towers office complex at the Dallas North Tollway and Spring Valley Rd.

Panda will occupy the top two floors of the office building, which was recently vacated by Henry S. Miller Co.

The energy company is moving from a building at the intersection of Spring Valley Rd. and Midway Rd. where it has had its offices for three decades.

“The vacancy at Providence Towers was only on the market for six weeks and presented a unique opportunity which will fit their needs perfectly for the long term future,” said Robbie Baty, of Cushman & Wakefield of Texas Inc.

Read more at the Dallas Morning News.

Richardson Mercantile leases 50,000-SF in Dal-Rich (Village) 

(9/10/2014)

RICHARDSON - Richardson Mercantile has leased 50,032 sf at Dal-Rich Village. The gifts, furniture, jewelry, antiques, home décor and apparel retailer will anchor the property at the southeast corner of Coit Rd. and Beltline Rd.

After landing the new anchor tenant, the 40-year-old retail center has been renamed Dal-Rich Towne Square.

This is the second mercantile shop to open in Dallas-Fort Worth, following the success of the Frisco Mercantile on Preston Rd.

Richardson Mercantile is scheduled to open on October 1.

Read more at the Dallas Business Journal.

Red Tail swings 16-building purchase in DFW 

(9/10/2014)

RICHARDSON, CARROLLTON - Red Tail Acquisitions has purchased a six-property, 16-building industrial portfolio totaling 462,618 sf in the Richardson/Carrollton corridor.

The assets are:

•  1360-1420 Presidential Dr. and 850-890 N. Dorothy Dr. in Richardson; and
•  1420 Halsey Way, 1406 Halsey Way, 2122 Country Club Dr. and 2855 Trinity Square Dr. in Carrollton.

The properties are 87 percent leased to 41 tenants, including NOW Specialties Inc., Optex Systems Inc., Laboratory Corporations of America, SKH Beauty Inc., All Sorts Mailing Services, Circuitco Electronics LLC, Advanced Environmental Concepts, Select Cabinet Co., Milestone Construction, TraStar Inc. and Gym Ratz Basketball Club LLC.

The properties were sold by AEW Capital Management.

Read more at GlobeSt.com and Commercial Property Executive.

Highlands of Northlake 220 homes coming, but not in Scotland 

(9/9/2014 7:00:00 AM)

NORTHLAKE, DENTON COUNTY - The Highlands in Northlake, a residential community north of Fort Worth, will begin the first of three construction phases by October 1.

Located on 363 acres off FM 407 along I-35W, the 220 one-acre-plus-lot community is approximately ten miles north of AllianceTexas.

Twelve lots have been pre-sold to custom home builders. There are 66 lots in the first phase of construction, which is expected to be delivered by summer 2015.

The community is being developed by Las Colinas-based Realty Capital Management with investment from Dallas-based RCP Properties LLC.

In addition to the equity funding from RCP, the project has also secured $4.385 million in infrastructure reimbursements from the Highlands Public Improvement District.

“The Highlands offers families a great place to call home with convenient access to major employment centers for the parents and open spaces, miles of hike-and-bike trails and access to Northwest ISD schools for the kids,” said Blake Lugash, president of RCP.

Read more at GlobeSt.com.

Elevator firm KONE going up with Allen office park project 

(9/8/2014 7:05:00 AM)

ALLEN - Global elevator and escalator company KONE Inc. plans to make a major expansion in North Texas as it relocates a light manufacturing division from Mexico to Allen, bringing 80 new jobs to the city.

As part of the international relocation, KONE will help start a soon-to-be developed Class A office park in Allen, called AllenPlace, on the east side of North Central Expy. between Bethany Dr. and McDermott Dr.

AllenPlace is expected to cost upwards of $90 million after it’s fully developed.

The $26 million initial phase of the five-building, 700,000-sf office park will keep KONE growing, said Ron Bagwill, vice president and director of supply operations for KONE Americas.

KONE will occupy more than 169,000 sf at AllenPlace, where the company committed to be the lead tenant in May. This increases the company's original lease by more than 110,000 sf from its original commitment.

The Allen Economic Development Corp. (AEDC) sold the tract to the developer as part of a public-private partnership. As part of the new deal, AEDC gave KONE a $200,000 economic development grant as part of developing the light manufacturing facility.

Construction is scheduled to get underway this year on the initial phase of the project. KONE is expected to move into its new offices by summer 2015.

Read more at the Dallas Business Journal.

For more on KONE's initial commitment to AllenPlace in May 2014, see previous story New $70 million office park coming to Allen.

240,000-SF Toll Hill Office sold on Dallas North Tollway 

(9/8/2014 7:03:00 AM)

DALLAS - Cawley Partners has acquired Toll Hill Office Park, a two-story, 240,000-sf office property at the southeast corner of the Dallas North Tollway and Harvest Hill Rd.

As part of the acquisition, Cawley Partners plans to spend $3 million in upgrades to the property, including the lobby, restrooms, landscaping and parking.

Cawley Partners has been busy on the Dallas North Tollway, with plans to break ground on Legacy Center, a 175,000-sf planned office building at the northwest corner of Legacy Dr. and Hedgcoxe Rd. in Plano.

The developer is also working on Knoll Trail Plaza and Tollway Center, a proposed 200,000-sf project at the south side of Belt Line Rd. and the Dallas North Tollway that is expected to start January 2015.

Read more at the Dallas Business Journal.

For more on Legacy Center, see previous story Plano Legacy tract for new 169,000-SF office.

For more on Knoll Trail Plaza, see previous story Knoll Trail Plaza office starts on Dallas North Tollway.

USAA buys Dalports' 760,000-SF warehouse in Wilmer 

(9/8/2014 7:00:00 AM)

WILMER, DALLAS COUNTY - Dalport Trade Center, a 758,922-sf warehouse on I-45 in Wilmer, has been purchased by USAA Real Estate Co. 

The property is located at 201 S. I-45 in the Inland Port District south of Dallas on 37 acres. The huge distribution building is located just south of Union Pacific Railway’s intermodal freight center.

The warehouse is roughly 2.5 miles from the Union Pacific Intermodal and 6.5 miles from the FedEx Ground Hub.

The industrial building was developed in 2008 by First Industrial and is vacant.

Read more at the Dallas Morning News and CoStar Group.

Allen: Waters Creek 109-unit apartments started 

(9/8/2014 6:52:00 AM)

ALLEN - Developer Trademark Property Co. has started work on a 109-unit residential building in its mixed-use Watters Creek Project.

The apartments will range in size from 650 to 1,740 sf.

The 750,000-sf retail, office and apartment development is on North Central Expy. at Bethany Rd.

The 52-acre Watters Creek development opened in 2008. The first phase of the project has 350,000 sf of retail space, 250 apartments and 90,000 sf of office space.

The project is a development of Trademark, Pacific Coast Capital Partners, Coventry Real Estate Advisors and Southern Land.

Read more at the Dallas Morning News.

Chisholm Trail Ranch sells 268 acres for Fort Worth housing 

(9/8/2014 6:49:00 AM)

FORT WORTH - Chisholm Trail Parkway provides more than quick passage from Fort Worth to Cleburne; the $1.4 billion toll road also promises new housing, retail and office options.

All those elements are taking shape at Chisholm Trail Ranch at McPherson Boulevard and Chisholm Trail Parkway in southwest Fort Worth, according to Steve Saxon, co-founder of Legacy Capital Co.

Legacy, along with Stratford Land Co., sold 268 acres of the 625-acre, mixed-use development to project developer Walton Group of Companies.

Those 268 acres represent the property’s single-family housing component. The remaining retail and office acreage is still owned by Legacy Capital.

The first 50 of 1,100 planned single-family homes are expected to be constructed by late 2015, according to Steve Saxon, co-founder of Legacy Capital Co.

Homes will be priced from the mid $200,000 to high $300,000 range. Two residential phases have been confirmed, one on the east and one on the west side of Chisholm Trail Pkwy.

The first phase will span 50 acres, with the second covering 225 acres and including a planned elementary school in the Crowley school district.

Chisholm Trail Ranch marks the first major real estate project announced for the Chisholm Trail Pkwy. corridor. Since the 27.6-mile toll road opened this summer, motorists have enjoyed swift passage between I-30 near downtown Fort Worth and US 67 in Cleburne.

Read more at the Fort Worth Business Press.

Flower Mound condo tower is half presold 

(9/8/2014)

FLOWER MOUND - Developers have begun selling condominiums in The Lakeside Tower and Bungalows, a 14-story residential building planned for the 150-acre mixed-use Lakeside DFW development.

Irving-based Realty Capital Management, who is developing the property, has already sold about half of the 44 condos planned for the Mediterranean-style high-rise.

The residential units range in price from $595,000 to $2.95 million for 1,300 sf to over 5,700 sf.

Construction is planned to begin spring 2015 with completion in the second half of September 2016. Realty Capital is developing Lakeside DFW, located at FM 2499 and Lakeside Pkwy.

Read more at the Dallas Morning News.

Proctor & Gamble wrapping up Wilmer project, hiring 500 

(9/8/2014)

WILMER, DALLAS COUNTY - Work is finishing up on consumer products giant Procter & Gamble’s (P&G) huge new warehouse in Wilmer.

The more than 1.4 million-sf distribution center is located on the west side of I-45 at Mars Rd. will house about 500 workers.

Almost all of the workers will be employed by two companies that will operate the facility, according to P&G spokesman Jeff LeRoy. “Both are now hiring,” said LeRoy.

The industrial building, which is the biggest under construction in North Texas, is being developed by Panattoni Development Co. in partnership with the California State Teachers Retirement System.

The entire operation should be up and running by December, according to P&G.

Read more at the Dallas Morning News.

Hundreds of apartments sprouting near Dallas' Farmers Market 

(9/8/2014)

DALLAS - Construction is set to begin in September on the redevelopment of Dallas’ Farmers Market complex.

In about 60 days, ground will be broken for a large rental community that will replace two of the old produce sheds along Harwood St. near I-30.

Other developers are ramping up apartment construction in the neighborhood as well. The number of residences in the area will grow to more than 2,000 units during the next couple of years.

In 2012, the City of Dallas chose Bergersen’s Spectrum Properties and a group of other investors and developers to build a roughly $60 million mixed-use development at the Farmers Market.

Since then, two other apartment developers have begun work on rental projects. And a townhouse community under construction just north of the Farmers Market is now about two-thirds sold.

The 240-unit FM Harvest Lofts apartment building should be open by the end of 2015 on Harwood St., and will support about 25,000 sf of retail within the building, as well as a freestanding restaurant.

Houston-based Camden Property Trust already has about 900 units in its Farmers Market apartment community.

Right next door to Camden on Cesar Chavez Blvd., builder Wood Partners has begun construction on a 4.7-acre, 313-unit apartment community.

Another apartment builder, Alliance Residential, is working on a 340-unit rental community southeast of the Farmers Market at Cesar Chavez Blvd. and I-30.

Read more at the Dallas Morning News.

See more: Dallas: 313-unit Alta Farmers Market underway; Mixed-use not just in veggies at Farmers Market Dallas

Downtown Dallas: Texas A&M-Commerce expands to 42,000 SF  

(9/5/2014)

DALLAS - Texas A&M University-Commerce has leased 42,203 sf at Pacific Place, located at 1910 Pacific Ave. The new space is connected by sky bridge to the Universities Center at Dallas.

One of the first programs to take advantage of the new space will be visual communications, currently housed in the UCD building on Main St.

The programs will have over 16,000 sf of dedicated space to include lecture rooms, open critique space, computer labs, letterpress, silkscreen and photography studios.

The new Pacific Ave. location will allow enough square footage for additional programs as well as meeting spaces for alumni events and other university needs in the downtown area.

The university will occupy the space beginning January 2015.

Read more at North Texas e-News.

Sold! $180M for Southlake's Solana Business Park 

(9/4/2014 6:55:00 AM)

SOUTHLAKE, WESTLAKE - Blackstone Group has purchased the 14-building Solana Business Park out of foreclosure for $180 million.

The deal also includes a 194-room Marriott hotel, a fitness club and some retail space, as well as 78 acres of undeveloped land, deed records show.

In all, the buildings totaled about 1.8 million sf, which were only about 50 percent occupied at the time of the sale. Tenants include Verizon, Wells Fargo, CoreLogic and First American.

The once-thriving 900-acre business park, known for its brightly colored architectural accents, was developed in 1989 by Los Angeles-based Maguire Partners and IBM Corp.

Developers defaulted on more than $390 million in debt on the project.

Read more at the Dallas Morning News.

Barclays Bank grabs 40,000 SF in McKinney for tech center 

(9/4/2014)

McKINNEY - Barclays Bank will open an innovative technology center at the McKinney Corporate Center 1 building located at 6800 Weiskopf Ave. at Craig Ranch.

The London-based bank will initially occupy over 40,000 sf in the Class A office building. The Barclays Technology Center will support the bank’s operations globally.

The center will support the bank's growing industry requirements, provide technology support to the business and develop solutions for all the group's activities and requirements.

Barclays is a Global Fortune 500 company that provides personal banking, credit cards, corporate and investment banking and wealth management.

Read more at PRNewswire.

DFW apartments Oakwood and Hacienda Villa sold 

(9/4/2014)

FORT WORTH, GREENVILLE - Colliers International North Texas has sold two North Texas apartment communities — Oakwood Apartments in Fort Worth and Hacienda Villa Apartments in Greenville.

Oakwood Apartments is a 216-unit apartment complex that is located on 6351 Vega Dr. The complex offers one- and two-bedroom apartments ranging from 555 sf to 950 sf. Rent varies from $571 to $780.

Hacienda Villa Apartments is a 100-unit garden style apartment complex on 1600 N. Joe Ramsey Blvd. The community consists of one-, two- and three-bedroom units.

Oakwood Apartments was purchased by an anonymous Plano investor, and Hacienda Villa Apartments was purchased by an out-of-town investor with a national apartment portfolio, according to Colliers. Both properties were purchased through Auction.com.

Read more at the Dallas Business Journal and at GlobeSt.com.

Downtown Denton: new apartments open near Square 

(9/4/2014)

DENTON - Downtown Denton is becoming more residential, as two new apartment complexes — H Squared and Adagio — have opened.

H Squared features 42 one- and two-bedroom units on W. Hickory St. The Martino Group and Links Construction opened H Squared.

Brandon Martino, owner of the Martino Group, said the developers wanted to do a new high-end product in the area and see how it sold.

They were a little nervous about being the first residential project on the west side of the Square, but it has turned out well, with 85 percent of the units already leased.

The Adagio project began as an update to an older warehouse/office building. The 55-unit Adagio on S. Locust St. ranges from efficiencies to three-bedroom penthouse apartments. Jack Bell Properties is the owner.

Both also have retail spaces on the first floor. The Adagio will house Shift Coffee, and H Squared will debut Pizza Snob later in September.

Read more at the Denton Record-Chronicle. Listen to Podcast 226 for this story.

Nerium cosmetics firm to 76,000 SF in Addison 

(9/3/2014)

ADDISON - Nerium International LLC has rented almost 76,000 sf in the Forum at Beltline Complex at 4006 Belt Line Rd.

The cosmetics firm will expand by almost 50,000 sf in the move from its current office. Nerium started in 2011 with just 5,432 sf.

“Nerium absolutely looked at the market, but they like this property,” said Sharon Friedberg, of Bradford Commercial Real Estate. “It has a good owner and management plus it’s a quiet campus-like setting in the heart of Addison.”

Read more at the Dallas Morning News.

Chicken Express wings it to 89,000-SF distribution center 

(9/3/2014)

BURLESON - Chicken Express has moved into an 89,591-sf cold storage distribution center. The property makes Chicken Express the first tenant in HighPoint Business Park along I-35W.

The largest area is the 52,000-sf dry goods warehouse, which features nine loading docks and one forklift-ramp accessible door. The 30,000-sf cold storage area is comprised of an 11,000-sf -10° freezer, 6,400-sf 30° freezer, 4,500 SF 38° cooler and a spacious 40° cold storage dock.

The 8,000-sf office space is accessed through the building's main entrance. It features a reception atrium space, conference room, offices and an employee breakroom.

Chicken Express, a Texas-based fried chicken chain, was founded in 1988 and now has more than 200 restaurants in Texas, Oklahoma, Georgia, Arkansas and Louisiana.

Read more at the Fort Worth Business Press and at Bob Moore Construction.

Irving: Cheddar's Cafe HQ flows to Cypress Waters 

(9/3/2014)

IRVING - Developer Billingsley Co. has finished construction a 35,000-sf office building that will house the corporate headquarters for Cheddar’s Casual Cafe restaurant chain.

The project, which took only 190 days to complete, is located in Billingsley’s Cypress Waters at LBJ Fwy. and Ranch Trail.

“Our new space at Cypress Waters will allow us to support our 150 restaurants in 28 states and hopefully more as we continue to grow and expand,” Cheddar’s Executive Vice President Rick Payne said in a statement.

Billingsley is still working on corporate offices for 7-Eleven and Nationstar Mortgage in Cypress Waters.

The 1,000-acre Cypress Waters development is planned for 4 million sf of office space plus retail and more than 10,000 residences.

Read more at the Dallas Morning News.

205,000-SF LBJ Tower changes hands in North Dallas 

(9/3/2014)

DALLAS - The 205,000-sf LBJ Tower at 8390 LBJ Fwy. near US 75 has been sold. The new owners plan to spend about $1.6 million in improvements on the property, which is about half occupied.

A local investment group purchased the property from Houston-based Millennium First Development, which had owned the building since 2010.

The LBJ Tower is just the latest in a series of office sales along I-635. With reconstruction on the highway more than halfway completed, investors are snapping up buildings along the major thoroughfare.

Read more at the Dallas Morning News.

Majestic finishing 1M-SF spec project in Lewisville 

(9/2/2014)

LEWISVILLE - Majestic Realty Co. will complete a 1.1 million-sf speculative logistics center in October or November.

The project is the fifth building at Majestic Airport Center, which is located off SH 121 near DFW International Airport.

The Lewisville Economic Development Corporation (LEDC) has a 50-50 partnership with Majestic for the development, building utilities and road infrastructure that serves the multi-building center.

So far, Majestic has kept any news about a possible tenant quiet. “Our goal is to occupy it with one user if we can,” said Nika Reinecke, LEDC director.

Reinecke said Lewisville takes an active role in such large projects, and would offer tax incentives for a large tenant.

Read more at Community Impact Newspaper.

Chisolm Trail Pkwy. opens Crowley business horizons 

(8/31/2014)

CROWLEY - The intersection of W. 1187 and W. Business FM 1187/McCart Avenue is about to become a lot busier as a Walmart Neighborhood Market is slated to be built on the northeast corner of the intersection, east of Nicky D's Grill.

The Crowley City Council approved site plans for a Walmart Neighborhood Market on 6.6 acres on the northeast corner of the intersection.

The grocery store, which will include a pharmacy with drive-thru, will be 41,921 sf with parking for 168 vehicles.

Timing is right for the retailer, as LGI Homes broke ground in May on its 700-home Bridges of Creekside residential development adjacent to the planned grocery store.

The Walton Group has, in two separate transactions, purchased 2,023 acres along the recently-opened Chisolm Trail Parkway.

That the area is ripe for growth is an understatement. In addition to the Bridges of Creekside, Crowley will be home to two other residential developments hoping to capitalize on the city's new fast track to downtown Fort Worth.

Read more at the Crowley Star.

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

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

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

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

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

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

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

Read more at the Dallas Business Journal.

iPic Frisco: Wade Park scores Pinstripes Bowling, Bocce 

(8/28/2014)

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

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

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

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

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

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

Read more at the Dallas Morning News.

Alamo Drafthouse to open third DFW location in Las Colinas 

(8/28/2014)

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

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

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

Read more at the Dallas Business Journal.

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

Hillwood to start 230,000-SF AllianceTexas spec project 

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

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

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

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

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

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

Read more at the Dallas Business Journal.

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

(8/26/2014)

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

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

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

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

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

Berry estimates that the project is only about half built.

Read more at the Dallas Morning News.

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

(8/26/2014)

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

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

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

Read more at the Dallas Morning News.

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

(8/26/2014)

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

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

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

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

Read more at the Dallas Business Journal.

DFW: UPS grabs two distribution centers, adding 500 jobs 

(8/25/2014)

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

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

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

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

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

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

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

Read more at the Fort Worth Business Press.

Total Wine & More to 33,000 SF in Arlington 

(8/22/2014)

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

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

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

Source: San Antonio Business Journal

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Read more at the Dallas Business Journal.

Downtown Fort Worth commercial stats 2Q 2014 

(8/21/2014)

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

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

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

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

*Full service rent ($/SF/YR)

Read more at Downtown Fort Worth Inc.

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

Marriott hotel giddy-ups to Fort Worth Stockyards 

(8/21/2014)

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

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

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

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

Read more at the Dallas Business Journal.

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

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

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

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

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

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

Read more at the Dallas Business Journal.

Fort Worth, Dallas condo sales comparison 2Q 2014 

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

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

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

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

*days on market
**sales price to list price

All information is deemed reliable but should be independently verified.

Read more at Downtown Fort Worth Inc.

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

New 275-unit apartments coming to Frisco Square 

(8/20/2014)

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

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

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

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

Read more at the Dallas Morning News and PRNewswire.

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

(8/20/2014)

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

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

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

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

Read more at the Dallas Morning News.

Dallas apartment rents up by more than 4 percent in July 

(8/20/2014)

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

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

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

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

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

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

Read more at Dallas Morning News.

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

(8/20/2014)

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

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

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

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

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

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

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

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

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

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

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

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

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

Read more at the Dallas Morning News.

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

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

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

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

Read more at the Dallas Morning News.

Adams Golf to shutter Plano HQ; lay off 138 employees 

(8/19/2014)

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

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

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

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

Read more at the Dallas Business Journal.

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

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

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

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

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

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

Source: NBC DFW

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

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

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

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

Conti Warehouses is known for repositioning large warehouse buildings.

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

Read more at the Dallas Business Journal.

166,000-SF Tower of Frisco Square groundbreaking 

(8/18/2014)

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

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

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

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

Read more at the Dallas Morning News.

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

(8/18/2014)

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

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

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

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

Read more at the Dallas Morning News.

Dallas Orange DART(s) to DFW airport station 

(8/18/2014)

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

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

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

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

Read more at impactnews.com

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

(8/18/2014)

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

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

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

Read more at the Dallas Morning News.

Stephenville: Tarleton State housing $38M in phase two 

(8/15/2014)

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

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

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

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

Read more at Student Housing Business.

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

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

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

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

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

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

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

Read more at the Dallas Morning News.

NTREIS: DFW area home sales sold July 2014 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

(8/14/2014)

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

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

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

Read more at CoStar Group.

Dallas Love to San Francisco, Oakland 

(8/13/2014)

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

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

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

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

Read more at the Dallas Morning News.

Plano 474-unit Windhaven Park purchased 

(8/13/2014)

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

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

Built in 1991, Windhaven Park is 95 percent leased.

Read more at the Dallas Morning News.

DFW home prices up 5.2 percent in 2Q 2014 

(8/13/2014)

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

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

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

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

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

Read more at the Dallas Morning News.

Gas Monkey to open 38,000-SF Dallas venue 

(8/13/2014)

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

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

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

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

Read more at the Dallas Morning News.

Denton County opens $15.7M juvenile center expansion 

(8/13/2014)

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

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

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

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

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

Read more at the Denton Record-Chronicle.

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

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

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

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

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

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

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

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

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

H-E-B doubling Cleburne location with new store 

(8/12/2014)

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

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

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

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

Read more at the Dallas Business Journal.

Stephenville: Texas Health $14M emergency dept. underway 

(8/12/2014)

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

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

Completion is expected in summer 2015.

Read more at the Stephenville Empire-Tribune.

DFW Airport terminal renovation grows to $2.7B 

(8/12/2014)

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

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

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

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

Read more at the Fort Worth Star-Telegram.

Southlake: KTR developing 335,000-SF industrial project 

(8/12/2014)

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

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

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

Read more at the Dallas Morning News.

Home demand in North Texas outpaces supply 

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

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

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

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

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

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

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

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

Read more at the Dallas Morning News.

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

(8/11/2014)

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

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

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

Read more at the Dallas Business Journal.

Mixed-use Village of Rowlett planned by Atlanta firm 

(8/11/2014)

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

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

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

Read more at the Dallas Morning News.

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

(8/11/2014)

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

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

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

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

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

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

Read more at impactnews.com

Dallas 1.4M-SF 1700 Pacific to Canadian Montreal Olymbec 

(8/8/2014)

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

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

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

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

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

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

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

DFW far outpaces rest of Texas in industrial construction 

(8/8/2014)

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

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

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

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

Read more at the Dallas Morning News.

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

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

(8/8/2014)

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

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

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

Read more at the Dallas Business Journal.

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

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

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

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

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

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

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

Read more at the Dallas Business Journal.

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

(8/7/2014)

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

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

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

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

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

Read more at the Dallas Morning News.

Richardson CityLine gaining 532 apartments  

(8/6/2014)

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

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

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

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

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

Read more at the Dallas Morning News.

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

(8/6/2014)

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

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

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

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

Read more at the Dallas Business Journal.

Arlington: GM Financial buys 240,000-SF property 

(8/4/2014)

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

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

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

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

Read more at Fort Mill Times.

Grand Prairie: $43M apartments slated for Mira Lagos 

(8/1/2014)

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

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

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

Read more at the Dallas Business Journal.

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

(7/31/2014)

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

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

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

Read more at the Dallas Morning News.

Austin investor buys 91,000-SF Farmers Branch building 

(7/30/2014)

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

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

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

Read more at the Dallas Morning News.

DFW midyear 2014 retail report: Weitzman 

(7/29/2014)

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

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

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

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

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

Read more at The Weitzman Group and Cencor Realty Services.

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

(7/29/2014)

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

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

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

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

Read more at the Dallas Morning News.

DFW: office construction pipeline increases 309 percent 

(7/29/2014)

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

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

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

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

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

Read more at GlobeSt.

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