Over the last ten years Dallas has gone through a transformations of shorts. The market crashed to be slowly bounce back again… bigger than ever. With the land around the airport running out and companies moving to the DFW area right and left… South Dallas is priming itself to benefit from all the momentum.
Read more: South Dallas Industrial
By Joel Kotkin and Michael Shires
Since the U.S. economy imploded in 2008, there’s been a steady shift in leadership in job growth among our major metropolitan areas. In the earliest years, the cities that did the best were those on the East Coast that hosted the two prime beneficiaries of Washington’s resuscitation efforts, the financial industry and the federal bureaucracy. Then the baton was passed to metro areas riding the boom in the energy sector, which, if not totally dead in its tracks, is clearly weaker.
Right now, job creation momentum is the strongest in tech-oriented metropolises and Sun Belt cities with lower costs, particularly the still robust economies of Texas.
Topping our annual ranking of the best big cities for jobs are the main metro areas of Silicon Valley: the San Francisco-Redwood City-South San Francisco Metropolitan Division, followed by San Jose-Sunnyvale-Santa Clara, swapping their positions from last year.
Our rankings are based on short-, medium- and long-term job creation, going back to 2003, and factor in momentum — whether growth is slowing or accelerating. We have compiled separate rankings for America’s 70 largest metropolitan statistical areas (those with nonfarm employment over 450,000), which are our focus this week, as well as medium-size metro areas (between 150,000 and 450,000 nonfarm jobs) and small ones (less than 150,000 nonfarm jobs) in order to make the comparisons more relevant to each category. (For a detailed description of our methodology, click here.)
By Steve Brown
A new 2014 forecast predicts that the Dallas-Fort Worth area will be one of the top leasing markets in the country this year.
Marcus & Millichap Real Estate Investment Services says that the D-FW area will see close to 8 million square feet of net office leasing this year. Only Houston and New York are expected to see higher office space demand in 2014.
Only about 3.5 million in net office leasing was recorded in the D-FW area in 2013.
“Markets in Texas, with their exceptional forecast employment growth, will dominate the office demand index,” researchers with the commercial real estate firm say. “Expanding service industries such as Associa, Kohl’s and State Farm have boosted the Dallas-Fort Worth regional performance.”
Marcus & Millichap predicts that overall office vacancy rates in North Texas will fall to 17 percent this year, even though about 4 million square feet of new office space will hit the market.
That should come as no surprise to those of us who live in the area and see the steady stream of new residents and businesses and growth in many of the long-standing businesses that call DFW home.
Austin led the list with a population growth of 2.5 percent, followed by Raleigh, N.C., and Phoenix, Ariz. Houston ranked No. 10 on the list, with a population growth rate of 1.82 percent and San Antonio fell in at No. 20.
By Candace Carlisle, Staff Writer
Dallas-based development firm Billingsley Co. plans to build the new Irving corporate headquarters for Cheddar’s Casual Cafe, which marks the beginning of a number of construction projects at Cypress Waters.
Cypress Waters is Billingsley’s 1,000-acre master-planned development underway in Dallas and Irving, which has been developing the corporate campus portion of the project.
The developer will start construction on the single-story, 31,450-square-foot build-to-suit project in May at 8951 Cypress WatersBlvd. near Ranch Trail and Interstate 635 in Irving. Cheddar’s will have the ability to expand the building for future growth.
“As Cheddar’s continues to expand nationwide and our support center increases to support 150 restaurants in 28 states, it was clear we needed a headquarters that could accommodate our growing team,” Rick Payne, a Cheddar’s senior vice president, said in a written statement.
“Our new space at Cypress Waters will offer an open, collaborative design flow, a test kitchen for research and development and a training wing,” he said.
The new Cheddar’s headquarters will be Cypress Waters‘ first corporate office tenant.
Restaurant chain Cheddar’s Casual Cafe is moving its headquarters to developer Billingsley Co’s new Cypress Waters office park.
The company will relocate to a new 31,450 square foot office project that will start in late May at on Ranch Trail and Interstate 635.
The Dallas-area was one of the top office leasing markets in the country in 2013, fueled by Texas’ booming economy.
Dallas was second only to New York in terms of net office leasing in 2013, according to a new report from commercial real estate firm Cassidy Turley.
New York was the largest leasing market with 7.1 million square feet, followed by Dallas with 4.2 million square feet and Houston with 3.9 million.
Dallas-based development firm Billingsley Co. will begin construction on its latest office project in Plano by the end of the month.
Once developed, the 180,000-square-foot, three-story building at 6111 W. Plano Pkwy. will serve as the regional offices for Woodland Hills, Calif.-based online marketing firm ReachLocal Inc., which currently operates from the International Business Park.
Younger Partners has tapped Carter Crow to help the company grow its industrial real estate services business. He’ll bring with him 1.2 million square feet of leasing assignments to the company, including Billingsley Co.’s Turnpike portfolio. Full article
As office market conditions continue to tighten in North Texas, what is happening to the region’s sublease space? Are there opportunities for companies seeking low-cost space and, if so, where are these leasing options located? Continue reading Insight: DFW Office Market – Sublease Space Update May 2013
Consumer spending has rebounded since the end of the last recession with the latest estimates released by the US Bureau of Economic Analysis (BEA) showing that personal consumption expenditures (PCE) increased $18.2 billion, or 0.2 percent, in January 2013. While consumers pulled back on purchases of durable goods in January, expenditures on services increased by $27.9 billion, or 0.4 percent. Consumer spending accounts for roughly 70 percent of GDP in the US.
There are three reasons why property owners decide to bring their building leasing and
management in-house, said Moody Younger of Younger Partners. Those reasons include saving
money on broker’s fees, increasing the attention on the property and the desire to create a brand
for the building, he said.
“I think this is cyclical,” Younger said. “It happened in the mid-90s and it’s happening now. Part of
that is that there’s been so much growth and consolidation in the service area and it has become
commoditized. Some of that is the industry’s fault.”
There’s a perception from property owners that brokers are spread too thin, or are not focused on
their properties — something the industry has to change, said Kathy Permenter of Younger
Partners. That perception is fueled by some brokerage firms that own competing properties, she
“We haven’t lost assignments, but as far as the third-party portfolio in the market, it’s been
decreasing as property owners go in-house,” Permenter said. “It will come back around.” Full Article – Dallas Business Journal, DFW leasing brokers stung by moves in house