JLL recently released a report examining the top 50 local office markets and their development pipelines, entitled “Supply rut, or supply glut?” Reports like this can get pretty complicated as many factors are weighed to compile the final rankings. In the case of Dallas, the report concluded that the current and future supply of office space would “exceed” demand, and this would help ease market conditions, giving tenants a… Read More
With congestion issues and seaport gridlocks plaguing the transportation industry, air freight volumes are back on the rise. According to JLL’s annual Airport Outlook Report, global air cargo saw a 4.5 percent annual increase in 2014 and the forecast calls for 5 percent growth in 2015. This has created a flurry of leasing, building and investment in the distribution center real estate surrounding key U.S. airports. And as a result, rents… Read More
Last week Managing Directors Terry Darrow and Brad Selner were named Industrial Broker of the Year and Office Broker of the Year, respectively, by the North Texas chapter of the National Association of Office and Industrial Parks (NAIOP).
Broker of the Year nominees are submitted by Principal Members of the chapter and demonstrate consistent performance; excellent… Read More
Our 2015 outlook for the Dallas office market continues to be positive. Despite recent national news about the impact of declining energy prices on some Texas markets, Dallas has a diverse economic base that should insulate it from much of this turmoil. Jobs increased last year in DFW by more than 110,000, with gains registered across almost… Read More
According to JLL’s recently published office statistics, 2014 was a banner year in North Texas. Below are several key trends driving the market, but for a complete copy of the firm’s fourth quarter statistics, click here.
Construction deliveries outpace demand in latest quarter
In 2014, 2.6 million square feet of new office construction was completed, which outpaced the 2.3 million square feet of positive net absorption. This increased the total vacancy to 19.4 percent, a
In the last few months, oil prices have declined significantly. At first, we barely noticed the shift beyond slightly lower prices at the pump. More recently, the slide has been pronounced as the benchmark West Texas Intermediate Crude (WTI) dropped from a 2014-high of $106 per barrel in June to $55.00 just last week.
While this is an important national topic, the concern here in Texas is palpable. To borrow from the… Read More
Last week I attended the International Council of Shopping Center (ICSC) research conference in Denver. The mood was energized and the content was excellent. It covered a good deal of ground to address the current health of retail, e-commerce impacts, and changes that could potentially “revolutionize” the industry.
Deborah Weinswig, Executive Director and Head of Global Retail Research and Intelligence for Fung Business Intelligence Centre, kicked-off the sessions by asking, “What has… Read More
Last week I presented at our new hire orientation and told a story about sending a book to a client. I got blank stares and a room full of confused faces, so I joked, “Books…it’s when a bunch of paper is bound together with a cover…you can buy them in stores.”
That’s when I realized that at 39 (not 40…yet), maybe I’m getting old. These fresh-faced 20-somethings looked a little embarrassed for… Read More
JLL’s fourth annual High-Technology Office Outlook is a comprehensive study of one of the most innovative and dynamic industries in the United States, its impact on local economies, and the growth generated within the commercial real estate sector. This report highlights the various drivers that impact the growth and sustainability of the industry, the characteristics of 34 markets that have lent to the growth of local high-tech clusters, and the implications… Read More