Everything you wanted to know about the Urban Core, Uptown and Downtown Dallas, Texas & Dallas Ft. Worth Area Real Estate - Its growth, prosperity, setbacks and unprecedented revitalization is told here...Randall Turner of Harvard Companies, Inc 214-373-0007, 3500 Oak Lawn Avenue, Suite 325, Dallas, Texas 75219
The report posits that AVs would cause a decrease in car ownership (by as much as 80 percent by 2030, according to one study). If so, Transwestern says the demand for parking across the U.S. may decrease 70 to 90 percent, cutting the need for parking spaces by approximately 60 billion sf.
Assuming widespread AV adoption, office owners and developers may have to rethink how they use parking, whether it is an adjacent parking structure or an underground garage. Transwestern says parking revenue averages 10 percent of a central business district office building’s gross revenue.
The rise of AVs also may add another pawn in the amenities war, the report says. "Features such as curbside pickup and ride-share lobbies could become more prevalent as building tenants and visitors increasingly demand them as next-generation Class A office conveniences."
Transwestern says the industrial sector could be disrupted most by AV technology.
"With approximately 70 percent of goods delivered via long-haul commercial trucks (a percentage that is expected to widen in the future), the introduction of autonomous long-haul trucks would be a welcomed addition to an industry struggling from a shortage of drivers. There was an estimated deficit of 48,000 truck drivers in the U.S. in 2015, and this problem is only getting worse."
What about retail?
"Retail properties that could be affected by greater adoption of AVs include auto repair facilities, car dealerships, and the nearly 154,000 gas stations nationwide," according to Transwestern. "Auto car dealerships and auto repair shops may disappear as we know them if private car ownership decreases. Gas stations, which typically occupy locations at highly visible intersections, could be converted to autonomous charging stations as electric vehicles are forecasted to surpass gas-powered vehicles by 2040."
AUSTIN (Austin Business Journal) – Office
rents in Austin have topped Seattle and the Silicon Valley, according
to CommercialCafe's latest report.
A tenant spending $5,000 per month for Class A office space can get
1,087 sf in the Capital City. That trails only Boston, where you could
afford 1,006 sf; Washington, D.C. (849 sf); San Francisco (803 sf);
and New York City (703 sf).
In Houston, $5,000 could get you 1,337 sf, and in Dallas 2,012 sf. For
that same amount, you can rent 2,226 sf in San Antonio.
Office vacancies were at 10.5 percent across the Austin metro in the
third quarter, according to Cushman & Wakefield. The asking rate
for Class A space is at an all-time high of $55.77 per sf.
on International Logistics Center
EULESS (Dallas Morning News) – Cabot
Properties and Stream Realty Partners have broken ground on the
International Logistics Center near SH 260 and SH 183.
The 40-acre business park near DFW International Airport will include
over 640,000 sf of warehouse space.
Peinado Construction is the general contractor. GSR Andrade Architects
designed the project.
more Texas real estate news? Then feast your eyes on NewsTalk Texas, our online news database.
Here are a few of the stories you'll find there this week:
NewsTalk Texas is updated each weekday, throughout the
enters San Antonio multifamily market
SAN ANTONIO (Houston Chronicle) – Houston-based
Hines will break ground early next year on a four-story apartment
project in The Rim.
The 396-unit, 380,000-sf community will sit on 11.4 acres at the
southwest corner of Worth and La Cantera Parkways. It will offer units
ranging from 682 to 1,479 sf.
Meeks + Partners designed the complex, which should deliver in spring
Obtaining a Texas
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Everything from what activities require a license to actual application
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Inn breaks ground near Texas Medical Center
HOUSTON (Houston Business Journal) – Moody
National Cos. has broken ground on a new Residence Inn by Marriott at
7807 Kirby Dr.
The 16-story, 182-room hotel will open in early 2019. It will include
a 4.5-story parking garage and four private meeting spaces totaling
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investor buys sixth River City property
SAN ANTONIO (San Antonio Business Journal) –
San Francisco-based Hamilton Zanze has purchased the 150-unit
Quarry Townhomes in Alamo Heights.
The 178,872-sf complex on 6.5 acres at 250 Treeline Park offers one-,
two-, and three-bedroom floor plans. It was 89 percent leased as of
Hamilton Zanze will renovate the property, which will be managed by
its partner, Mission Rock Residential.
The purchase is the investment firm's sixth in the area.
acquires Austin data center
AUSTIN (REBusiness Online) – Tampa, Fla.-based
vXchnge has purchased a 100,000-sf data center campus on 18 acres at
8025 N. I-35.
The colocation facility is currently doubling its capacity. Eventually,
it'll be able to produce 26 megawatts of power.
In a series of four videos, the Real Estate Center at
Texas A&M University explores what it takes to be an effective
communicator. The presenter is Mays Business School Executive Professor
Richardson Square sold
RICHARDSON (Dallas Morning News) – Dallas-based
ATR Corinth has purchased the 128,000-sf Sears store at the Richardson
Sears has a short-term lease in the building at 201 S. Plano Rd., which
will likely be redeveloped in a few years.
The store is one of three Sears locations recently purchased by ATR
sells Class B office building
HOUSTON (REBusiness Online) – Lykes Building
Holding Associates and Smetana Texas Realty Associates have sold a
Class B office building at 2525 N. Loop W.
2525 Inner Loop LP purchased the 136,325-sf building. It will invest in
capital improvements and bring retail space to its adjacent pad
But city officials are keeping mum on the details of McKinney's bid.
"While economic development pursuits are confidential, the opportunity to attract a second headquarters for Amazon to McKinney is certainly being considered," City Manager Paul Grimes, said in a written statement to the Dallas Business Journal.
"McKinney is prime for continued business growth and we are always proactively pursuing conversations with progressive employers like Amazon."