Tuesday, June 25, 2013

Belt Line Renovations headed to DFW

Thirty years ago, the corner of Belt Line Road and the Dallas North Tollway was the retail epicenter of North Texas.
Prestonwood Town Center, including Neiman Marcus, and the deluxe Sakowitz department store sat on two of the busy corners. And dozens of eateries made Belt Line the area’s most popular restaurant row.
The mall and Sakowitz are long gone.
But a series of redevelopments promises to bring new life into the suburban retail district in Addison and Far North Dallas.
“We are reinventing the place,” said Addison City Manager Ron Whitehead, who came to work for the town in 1982 when Belt Line Road was one of the Dallas area’s most popular shopping streets.
“Two years ago, there wasn’t a lot going on there,” Whitehead said. “But the intersection of Belt Line and the tollway is very important. We have a lot of traffic that goes down that street — over 60,000 cars a day.”

Starting next month, drivers will have more reasons to stop.

“We are very happy with how all of it is going to come together,” Lieberman said. “The Belt Line-tollway corridor is a tremendous hub.”
Lieberman said the nine-screen AMC theater is set to open in mid-2014, and construction is underway on a parking garage for the theater and shoppers.


More info at: 
http://www.dallasnews.com/business/commercial-real-estate/headlines/20130620-belt-line-road-redo-is-underway.ece



By STEVE BROWN

Published: 20 June 2013 10:10 PM
Updated: 21 June 2013 11:53 AM

Monday, June 24, 2013

Dallas Tops List for Most Searched Metroplexes

Apartment Guide, which shares information about retail properties to potential renters nationwide, has released data about moving patterns and the top searched metropolitan areas. Dallas and Houston ranked among the top 10 list, coming in third and fourth, respectively.
Dallas didn't fare quite so well when it came to top searched sister metros, however. This ranking determines where people most often move from and where they move to – statistics show that a higher number of individuals move from the Dallas to Houston metro region rather than vice versa.

More info at:

By Amy Wolff SorterDallas/Fort Worth
Last Updated: June 12, 2013

North Texas Becoming Popular for Multifamily Buyers

Plenty has been written about Texas in recent years; how the state weathered the Great Recession more effectively than other states and how job growth continues. The job growth has led to apartment demand – according to MPF/RealPage's recent figures, the Dallas-Fort Worth area saw demand for 11,194 units during the year-ending first quarter of 2013.

More info at:
http://www.globest.com/news/12_577/dallas/multifamily/North-Texas-Appealing-to-Multifamily-Investors-331824.html

By Amy Wolff SorterDallas/Fort Worth
Last Updated: April 5, 2013

Big Store Chains Now House Big Data


One of America's most recognizable bricks-and-mortar retailers will swap out clothes racks for server racks if a new strategy by Sears Holdings Corp. (Nasdaq: SHLD) pans out. 

More info at:
http://www.costar.com/News/Article/Big-Storefronts-Now-Housing-Big-Data/149592?ref=100&iid=341&cid=B7D9E532D6244D0F5B80DBE4B1C407D0

June 19, 2013

Farmers Market Newcomers and Changes

Farmers Market closes redevelopment deal with City of Dallas


DF Market Holdings completed the deal giving the group ownership and management of the Dallas Farmers Market from the City of Dallas.
This deal marks the end of a three-year search for an owner and operator of the 73-year-old Farmers Market.
More info at: 
Jun 18, 2013

Staff Writer-Dallas Business Journal


Pecan Lodge: No. 1 tenant for Farmers Market revival


One of the state's acclaimed barbecue joints, Pecan Lodge, could move from the Dallas Farmers Market, even as a deal is reached for the redevelopment of the market.
The barbecue restaurant, which ranked No. 2 on Texas Monthly's Top 50 Barbecue Joints in Texas list, has been shopping for new restaurant space, Owner Justin Fourton confirmed with the Dallas Business Journal.
More info at:


Jun 18, 2013

Staff Writer-Dallas Business Journal

Five Dallas Skyscrapers Nominated for TOBY Awards

North Texas will be well represented at next week's annual Building Owners & Managers Association's Outstanding Building of the Year (TOBY) awards in California.
The area has five office towers or properties competing for a TOBY award, which measures an office building's energy savings, security and community service.

More info at:
http://www.bizjournals.com/dallas/news/2013/06/20/five-dallas-towers-headed-to-the-toby.html?ana=e_du_wknd&s=article_du&ed=2013-06-22&u=gnqEl4G3QoSdt4kN92yWoUztFBB&t=1372086715

Staff Writer-Dallas Business Journal
Jun 21, 2013, 5:18am CDT

Behringer Harvard REIT I Changes name to TIER REIT

 Behringer Harvard REIT I Inc., a local based real estate investment trust is now operating under the name TIER REIT Inc. According to a press release, 2008, when Behringer Harvard, the company’s former sponsor, began assembling TIER REIT’s current management team with individuals possessing significant REIT, office and public company experience. In September 2012, the company internalized this management team making TIER REIT a self-managed, independent company, resulting in substantial cost savings.

More info at:
http://www.globest.com/news/12_632/dallas/reit/Behringer-Harvard-REIT-I-Now-TIER-REIT-334822.html?ET=globest:e39124:5052a:&st=email&s=&cmp=gst:Texas_AM_20130624:editorial

By Amy Wolff SorterDallas/Fort Worth
Last Updated: June 24, 2013

Friday, June 21, 2013

Arlington - Exeter’s Industrial GroundBreaking

ARLINGTON (Exeter Property Group) – Exeter Property Group has broken ground on Arlington Commerce Center.

The state-of-the-art 821,502-sf distribution facility at 4900 Sherry St. should be completed by January 2014.

Friday, June 14, 2013

Art District come to Agreement with Klyde Warren


Jun 14, 2013, 7:22am CDT

The Dallas Arts district and Kylde Warren Park had been sparring over the park's idea to tax surrounding properties to help with operations and maintenance costs. Dallas Arts District felt caught off guard by the public improvement district, which would tax 2.5 cents for every $100 of an appraisal value, according to the Dallas Morning News.

More info at:

http://www.bizjournals.com/dallas/blog/morning_call/2013/06/arts-district-reaches-agreement-with.html

Texas Industries relocates from Dallas to Farmer's Branch

By STEVE BROWN
Published: 13 June 2013 03:40 PM
Updated: 13 June 2013 08:33 PM

One of the biggest office tenants in Dallas’ Stemmons Corridor is moving to Farmers Branch.

Texas Industries Inc. is moving its main office from near Love Field to the Park West office complex on west LBJ Freeway.
The more than 60-year-old cement, building materials and energy services firm has rented 44,000 square feet of office space at 1501 and 1503 LBJ Freeway from Nexbank Realty Advisors.

Work crews are remodeling the Park West buildings to prepare for TXI’s move and to accommodate more new tenants.

More info at:

http://www.dallasnews.com/business/commercial-real-estate/headlines/20130613-texas-industries-moving-headquarters-from-dallas-to-farmers-branch1.ece

Wednesday, June 05, 2013

Dallas Skyscraper Dodges Foreclosure Bullet

The 45-year-old building has been owned since 1998 by New York-based RAK Group.
In 2005, RAK Main Place Associates refinanced the building with debtholders that now represented by Wells Fargo Bank.
It’s not so surprising that the skyscraper foreclosure didn’t happen...


More info at:

http://bizbeatblog.dallasnews.com/2013/06/downtown-dallas-one-main-place-tower-dodges-this-weeks-scheduled-foreclosure.html/

By

| Permalink

New Housing Bubble in Texas?

The 7.3 percent year-over-year price gain in January reported by the Standard & Poor’s/Case-Shiller Home Price Index was the largest percentage gain for the Dallas area since the numbers have been tracked starting in 2000.
In many North Texas neighborhoods, median home sales prices this year are growing at double-digit rates.
Of course, if you’ve been wanting to sell your house and prices in your neighborhood are soaring, good for you.
And I’m sure the taxman is tickled at the prospect of higher home value appraisals.
Still, I worry that there will be a downside to the sudden rise in home prices — if not today, then a couple of years down the road when mortgage rates move higher.
Housing analysts are scratching their heads about the takeoff in home prices, too.
“We are seeing stuff I haven’t seen in my entire career,” said David Brown, who heads the Dallas office of Metrostudy Inc., a nationwide housing analyst.
Brown is closely watching the rise in new home prices in the Dallas area.
“I do worry about it to a degree,” he said. “Is this movement in price creating somewhat of a bubble?”
Some of the recent price hikes have just made up for what was lost in the recession.
That’s certainly the case in places like Phoenix and Las Vegas, where prices are up about 20 percent this year but are still far below where they were in 2006.
Primary market
Many North Texas neighborhoods have regained much of the residential values lost in the downturn.
“The low inventory and high demand for certain properties — the best located, newer and most desired — will cause prices in those areas to increase dramatically,” said Dr. James Gaines, an economist at the Real Estate Center at Texas A&M University.
“Double-digit increases will be standard for this ‘primary’ market segment.”
If recent home price growth continues this year, the D-FW area will see record high prices in some neighborhoods and in the new home market.
“I, too, am surprised about the strong gains in prices,” said D’Ann Petersen, an economist with the Federal Reserve Bank of Dallas. “This is unusual for our area as we usually can add to inventories by building pretty quickly in response to rising demand.
“Price gains may continue in the short term, but I have a feeling they will ease when we add to inventories.”



More info at:

http://www.dallasnews.com/business/columnists/steve-brown/20130404-spike-in-dallas-fort-worth-home-prices-could-bring-pain-down-the-road.ece

Steve Brown
Published: 04 April 2013 08:19 PM
Updated: 04 April 2013 08:19 PM

Tuesday, June 04, 2013

To The Rescue! Two Buyers Save Dallas Landmark from Foreclosure

One of downtown Dallas’ grand 1980s skyscrapers has quietly changed hands.

After lenders foreclosed on part of the debt last year, bond holders who had a $178.6 million loan on the Main Street high-rise have been trying to come up with a solution.

The new owners plan to make upgrades to the office tower and will aggressively market it to business tenants.


More info at:

http://bizbeatblog.dallasnews.com/2013/06/buyers-rescue-landmark-downtown-dallas-skyscraper-from-debt-woes.html/

By

| Permalink

South Dallas the Next Industrial Hotspot

Dallas County’s Interstate 20 corridor has been North Texas’ busiest industrial development market during the last year with almost 3 million square feet of warehouse space in the construction pipeline.
And now three more major warehouse deals in the works for Dallas’ southern sector could add to the building boom.

Major companies including Quaker Oats, Ace Hardware, BMW and L’Oreal cosmetics are building distribution projects in the I-20 corridor. And with additional buildings now in the works, southern Dallas County is one of the hottest industrial markets in the country.

More info at:

http://www.dallasnews.com/business/commercial-real-estate/headlines/20130603-warehouse-deals-in-works-for-southern-dallas-county.ece



By STEVE BROWN
Real Estate Editor
Published: 03 June 2013 09:23 PM
Updated: 03 June 2013 09:23 PM

Monday, June 03, 2013

Richards Group Wants New $45 Million Headquarters

The Richards Group wants to build a 250,000-square-foot office building on the 2.5-acre site, Assistant City Manager Ryan Evans said Friday.
The city has been asked to provide property tax abatements valued at $1.795 million to land the deal, he said.
The Richards Group intends to move its 600 workers from North Dallas and hire an additional 50 employees over two years who will work in the new building...

By: ROBERT WILONSKY and STEVE BROWN

Published:
 31 May 2013 08:17 PM
Updated: 31 May 2013 08:41 PM

More info at:

http://www.dallasnews.com/business/commercial-real-estate/headlines/20130531-the-richards-group-close-to-office-tower-deal-in-dallas-cityplace-project.ece