Thursday, December 15, 2016

Inside DFW's Top 20 Deals Impacting DFW's Real Estate Market


This year has been a big one for North Texas' real estate market, with the region attracting hundreds of millions of investment from overseas investors and large investment firms alike placing their bets on Dallas-Fort Worth's future stability.
It has also been a big year for relocations, with Jacobs Engineering committing to a new corporate home to downtown Dallas and Jamba Juice squeezing into Frisco's Hall Park.

These two corporate relocations from California validates and reinforces what North Texas is going to win companies, said Mike Rosa, the Dallas Regional Chamber's senior vice president, told the Dallas Business Journal after the Jamba Juice deal closed in May.

"We have been identifying companies that we think are in high cost locations, experiencing an executive change or operating throughout the nation that want to be in a central location," Rosa added.

Before the Dallas Cowboys season got underway, the team trained in California bringing high-level executives from Texas to the West Coast and opportunities for Lone Star executives to share their experiences with their coastal counterparts.
The setting was perfect for recruiting, said Rosa, who said he tries to make the Cowboys training camp when he's traveling through California at the appropriate time.

With California-based Charles Schwab Corp. (NYSE: SCHW) planning to open up a major regional center that could employ up to 5,000 employees in the next few years, North Texas seems to be on a roll.
The deal comes on the heels of Dallas-Fort Worth landing the new Toyota North America headquarters campus, as well as major operations hubs from Boston-based Liberty Mutual Insurance and Bloomington, Illinois-based State Farm Insurance.

Putting a major operations center or hub within a bigger mixed-use development became so popular, financial giant JP Morgan Chase followed suit with plans to immediately build a regional operations center to house half of its 12,000 North Texas employees in the $3.2 billion Legacy West.

Irving-based Pioneer Natural Resources also put together major plans for a new corporate campus on Verizon's proposed $1.5 billion Hidden Ridge development. The deal was so attractive, Chicago-based Mesirow Financial had to put its stake in the ground, buying the real estate in a deal valued at $344 million.
Even though corporate relocations and expansions played a big role in the rise of real estate in North Texas, the region was also impacted by longtime projects taking big strides in 2016.

Those projects range from national recognition from U.S. Soccer for Toyota Stadium to house the National Hall of Fame Museum in Frisco to a longtime Dallas resident making a major contribution that will help the City of Dallas get a city-changing Trinity River project underway.