Thursday, September 26, 2013

Corporate America is Relocating to Dallas, Texas

  • Dallas/Fort Worth Corporate Announcements
  • “TeleTech Brings 400 Healthcare-Related Sales and Service Jobs to Ennis, Texas”-Business Wire, August 2013
  • TeleTech Holdings Inc., a leading global provider of technology-enabled customer experience solutions, announced that they are expanding operations to Ennis, 
  • TX creating 400 new jobs to serve the company’s growing healthcare client base.
  • “Publicly traded Navarre moving HQ from MN to Dallas”-Twin Cities Business, July 2013
  • Navarre Corporation, one of Minnesota’s 50 largest public companies, is relocating its headquarters from New Hope to Dallas.
  • “Another public company, Daegis Inc., moving to Texas”-Sacramento Business Journal, July 2013
  • Daegis Inc., the Roseville-based information management and eDiscovery company, said it in its fiscal year-end financial release that it will move headquarters to 
  • Texas by September 1st
  • “Barclays seeks up to 700 staff for new Dallas technology hub.”-Reuters, June 2013
  • The London-based bank opened its technology hub in Dallas, Texas, on Thursday. It said it expects to have up to 700 staff there by the end of 2014, mostly new recruits but possibly including staff moved from other parts of the bank.
  • “Department store retailer Kohl’s said it will create more than 1,000 jobs in Dallas with help from city and state.”-Dallas Morning News, June 2013
  • The Wisconsin-based department store promised to create 1,000 jobs in Dallas by 2018, according to sources familiar with Kohl’s pending lease of 230,000 square 
  • feet of office space in Waterview Place near State Highway 190.
  • “Motorola to build smartphone at Alliance plant in far north Fort Worth, expected to hire 2,000 workers.”-Star Telegram, May 2013
  • Motorola Mobility will manufacture its long-rumored new smartphone Moto X at an Alliance plant in far north Fort Worth, where it is expected to hire 2,000 workers 
  • by late summer when the first phones roll off the assembly line.
  • “Hexaware Technologies opens Frisco facility adding 150 engineers with an initial phase of 50 personnel.”-Dallas Business Journal, May 2013
  • The center in Frisco joins two facilities in New Jersey to offer services to Hexaware’s customers in North America adding 150 engineers facility with an initial phase of 50 personnel. 
  • “Humana to open mail-order pharmacy, create 620 jobs in Irving”-Dallas Business Journal, May 2013
  • Kentucky based health and wellness company Humana Inc. announced Wednesday it plans to open a mail order pharmacy call center and support operation in Irving that is expected to create more than 620 new jobs over the next three years.
  • “Trader Joe’s selects Irving for its Texas distribution center” – Dallas Morning News, May 2013
  • California-based grocer Trader Joe’s will open its first Texas distribution center in Irving later this year, allowing the grocery chain to ratchet up its Texas expansion. 
  • More than 200 workers will run the warehouse that will serve surrounding states.
  • “Home Depot is opening a new IT office in Irving that will employ 130 engineers” – Dallas Morning News, May 2013
  • The Home Depot office will employ 80 IT engineers initially and ramp up to about 130 next year. 
  • “NTT Data In. to move its North American HQ to Plano” – Dallas Business Journal, May 2013
  • Japan-based NTT Data Inc., which is affiliated with NTT Group, has set up its new North American corporate headquarters at 5601 Granite Parkway in Plano. NTT Data employs 60,000 people in more than 35 countries, with about 18,000 of those employees supporting North American clients.

Tuesday, September 24, 2013

Westdale Real Estate snaps up Irving office building

Dallas-based Westdale Real Estate Investment and Management has purchased an office building at 100 East Royal in Irving, which is 94 percent leased.
Dallas-based Westdale Real Estate Investment and Management has purchased an office building at 100 East Royal in Irving, which is 94 percent leased.

Dallas-Fort Worth real estate investor Westdale Real Estate Investment and Management has picked up an Irving office building.
The investor purchased the 146,538-square-foot Class A office building at 100 East Royal Lane in Irving for an undisclosed sum.
The Irving-Las Colinas submarket is a favorable location with quality properties and an exceptional roster of long-term and stable tenancy, said Eric Mackey, a senior vice president at CBRE, who worked on the deal.
"Notably, 40 percent of the property is leased to publicly traded companies with investment-grade credit," Mackey said.
Mackey, along with Gary CarrJohn Alvarado and Robert Hill of CBRE represented the seller in the deal, Capital Commercial Investments Inc.
The office property is 94 percent leased, with tenants such as Fox Sports Net Southwest's studios and offices for AT&T Services, Advancial Federal Credit Union, TWG Insurance and CRM Studios.
The two- and three-story building sits on 15.2 acres of land at the corner of Royal Lance and Colwell Boulevard.
The Las Colinas submarket has the highest overall absorption compared with any submarket in North Texas, so far this year, totaling 1 million square feet of space, according to recent data from Cushman & Wakefield of Texas Inc.'s Dallas research team.
Staff Writer-Dallas Business Journal

Roundup at Cross Creek

GRAPEVINE (CBRE) – Dallas-based CAF Capital Partners has purchased Cross Creek at Grapevine Ranch, a 356,594-sf multifamily complex.
The 392-unit property is 95 percent leased. It has seven one- and two-bedroom floor plans ranging from 750 to 1,163 sf. Amenities include a private theater, fitness center with indoor basketball court, two-story parking garage with boat parking, and a dog park.

Cross Creek is next to the 1.6 million-sf Grapevine Mills Mall and near Grapevine Lake.

Cole Corporate Buys AT&T Leased Property

PLANO (Dallas Morning News) – Cole Corporate Income Trust Inc. has purchased a building leased by AT&T for its Foundry Innovation Center.
The Arizona-based entity bought the 199,248-sf, three-story complex at 2900 W. Plano Pkwy.

The purchase was part of a $386 million nationwide acquisition of office and industrial properties.

Frisco Gateway Location Finds New Owner

FRISCO (Dallas Morning News) – Dallas attorney and real estate investor Don Godwin is buying a 120-acre tract in Collin County.
The land, which is at the corner of Dallas North Tollway and US 380, will eventually be home to a mixed-use project called Frisco Gateway.
This acquisition joins the tract Godwin bought across the highway last year, giving him nearly 400 acres at the intersection.

Collin County real estate broker Rex Glendenning represented Godwin in the purchase.

Texas Job Growth up uP UP

COLLEGE STATION (Real Estate Center) – The Texas economy gained 258,500 nonagricultural jobs from August 2012 to August 2013, an annual growth rate of 2.4 percent compared with 1.7 percent for the United States.
According to the Real Estate Center’s latest Monthly Review of the Texas Economy, the state’s nongovernment sector added 247,800 jobs, an annual growth rate of 2.7 percent compared with 2 percent for the nation’s private sector.
All Texas industries except the transportation, warehousing and utilities industry had more jobs in August 2013 than in August 2012. The state’s mining and logging industry ranked first in job creation, followed by construction, leisure and hospitality services, and professional and business services.
Texas’ seasonally adjusted unemployment rate fell to 6.4 percent last month from 6.8 percent a year ago. The nation’s rate decreased from 8.1 to 7.3 percent.
All Texas metros except Texarkana had more jobs. Odessa ranked first in job creation, followed by Midland, Dallas-Plano-Irving, Fort Worth-Arlington and Houston-Sugar Land-Baytown.

The state’s actual unemployment rate last month was 6.3 percent. Midland had the lowest unemployment rate, followed by Odessa, Amarillo, Abilene, San Angelo and Lubbock.

Thursday, September 19, 2013

New Life for Our Old Office Building - 2222 Elm Street - Harvard Companies, Inc.

2226 Elm, at far left, will be moved to Harwood; the facade of 2222 Elm, at far right, will be removed and stored. The building in the middle will be razed.
One of downtown Dallas’ oldest buildings is one step closer to be spared from the wrecking ball following a city council committee’s recommendation Tuesday morning.
The Economic Development Committee agreed to expand the City Center Tax Increment Financing District and spend $985,000 in TIF dollars to help move the circa-1886 Liberty State Bank and the facade of another historic building from Elm Street and César Chávez Boulevard to Harwood Street near the Dallas Farmers Market. Architect Craig Melde will be spearheading the relocation next door to the Scottish Rite Cathedral, scheduled to begin at year’s end, at a total cost of $2.5 million.
“This is a labor of love,” Karl Zavitkovsky, head of the city’s Office of Economic Development, told the council committee. Melde plans on moving 2226 Elm and creating 4,000 square feet of ground-floor retail and second-floor office space, as well as 1,000 square feet of “plaza/retail/multi-use area,” according to briefing documents. The facade of 2222 Elm will be removed and stored for further use. And 2224 Elm will be razed.
Zavitkovsky said Melde and Tanya Ragan, partners in Preserve Liberty, LLC, are not expecting “a huge return on these things.”
He asked the committee to forward the item to the full council on September 11 for two reason: “We pretty much committed to the historical preservation of an old building. And it improves the connectivity between the downtown core and the farmers market.”
That, ultimately, is what appealed to mayor pro tem Tennell Atkins, chair of the committee, who asked what the city’s going about connecting the Dallas Farmers Market to the Arts District. Karl Stundins, area redevelopment manager in the Office of Economic Development, said moving the old Liberty State Bank building is a good start, and that Melde plans on putting more buildings in the area — “where you get doors and windows out onto the street.” But it’s all part of an ongoing process that involves fixing the entire Harwood Street corridor.
“How do we connect downtown? We just had Megafest … We talk about Pecan Lodge, are they gonna stay or move? I would like a presentation on how we connect Deep Ellum to the South Side to the West End.” Assistant City Manager Ryan Evans said he’d be more than happy to do that, especially for the council newcomers.
“I wanna build on that, the connectivity, how simple it is to have a rubber-tire trolley to have connectivity,” added Jerry Allen, who apparently hasn’t read next week’s council consent agenda, which includes spending $800,000 on that long-planned DART-Downtown Dallas Inc. tourist shuttle intended to link the Central Business District, Victory, the Cedars and the Bishop Arts District, which is scheduled to start service November 4. “Putting buildings [downtown] has nothing to do with” growing downtown, he suggested. When it comes to a expanding downtown transportation options, he said, “We do not need DART to do this.”
DART is a partner on the trolley project.
“I enthusiastically support this project,” said Scott Griggs. “This is a great use of TIF funds. This building was there when we had life on our streets. This bulding has a great form to encourage and activate the space. Though I am still opposed to widening Cesar Chavez in the name of walkability, this is one good thing coming out of the project — restoring it to what it once was.” He turned to Melde and Ragan and said, “Thank you for preserving this piece of Dallas that without you would absolutely be lost.”
It was sent to council with the full support of the committee. A vote is scheduled for September 11.