Tag Archives: office building

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.

Categories: Uncategorized

$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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What More Customers? 4 Scientifically Proven Ways

Post By : admin 23 October 2014 Leave a comment

What a dumb question, right? Who doesn’t want more customers? But do you really?

I want more customers, but the right ones. As a Real Estate Advisor & Tenant Advocate, the client I want the most is the company which already leases space in a high-rise office building in Dallas or Collin counties with a lease expiring in the next 2 years. So getting the right client is key.

Jeff Hayden at Inc.com presents 4 scientifically proven ways to get more customers. Here they are:

1. Break Through Action Paralysis – suggesting a small action to prospects can have a dramatic increase in their response.

2. Embrace the Power of Labels – tell prospects that they are part of an elite group may make them feel good about themselves and encourage them to take action (i.e. buy your product or service).

3. Highlight Strengths by Admitting Shortcomings – you appear honest and may be surprised that if you raise an objection or weakness first, the prospect will often counter it by minimizing the importance of the issue.

4. Make an Enemy – being on the same side of an issue as a prospect or having a common enemy can bond you to them.

I have often used #3 and have been amazed at how the prospect is so quick to defend me against the objection. A twist on #2 is to make someone think they may not qualify for your services (not part of the group) and they then want to be included. Pushing them away makes them want you more.

For the full article, click here.

Have you used any of these techniques? If so, with what results?

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