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Dallas = Heaven?

Post By : admin 10 December 2014 Leave a comment

I always wondered if Dallas was heaven. Here is confirmation.
Dallas HeavenDallas Heaven 2

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The $5 Billion Mile

Post By : admin 7 November 2014 Leave a comment

Last week I blogged about the new $900 million development in Plano. Well the jealous sister to the north (Frisco) loves to upstage Plano and announced The $5 Billion Mile this week (website). The $5 Billion Mile is stands for the $5.4 billion estimated value of 4 new developments along the Dallas North Tollway between Warren Parkway and Lebanon Road.

These developments include the Cowboys World Headquarters, Frisco Station, The Gate and Wade Park. Two of these projects have already broken ground with the others planned for the next year or so. Here are the projected totals:

549 acres
Office – 11.7 million square feet (SF)
Retail – 1.2 million SF
Hotels – 5 with 1,230 rooms
Single Family Homes – 200
Apartments/Condos – 3,700 units
Stadium – 12,000 seats

And these numbers don’t include all the other one-off developments going on Frisco at the same time. Some of the names already signed include Whole Foods, iPic Theatres, Pinstripes, Omni Hotels.

This is a very ambitious time for Frisco. I’m excited about it and hope it all happens as announced. It’s hard to imagine, however. For example, 11.7 million SF of office space is about 4 times the total square footage currently in Frisco today. Net absorption (the change in occupied SF) was only 131,700 SF. Extrapolating those numbers would mean that 11.7 million SF of new office product would be equal to 44 years of demand. Of course, demand is never linear and a few large corporate relocations could take a huge chunk of this off the market.

If you need new office space or have a lease renewing in the next few years, please call me and I would be happy to work with you to create a strategy for your company’s future office or warehouse needs.

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$900 Million Project Coming to Plano

Post By : admin 31 October 2014 Leave a comment

After owning the land for 50 years, Rosewood Property Company announced this week that they will be developing 156 acres bounded by the George Bush Turnpike, Alma Drive, W. Plano Parkway and Custer Road. Calling it the Heritage Creekside, it will be a mixed use project with office buildings, apartments, houses and retail…possibly even a hotel. Phase I will be 320 apartments.

For the full article in the Dallas Morning News, click on this link.

It will surely be a project that develops over many years. For example, as much as 2.5 million square feet of office space is possible. Little if any of that will be built until tenants are signed. Most office projects won’t start construction until they have 30-50% of the building pre-leased. So if you know any large office users that want a new home, have them call me.

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