As part 2 in our series, we decided to look at how the last spec office buildings performed at the end of the last cycle. This important for a couple of reasons. From the most basic financial perspective, it is critical to understand if these developments generally hit proforma and were viewed as economically “viable” – and their success (or… Read More
The question has been coming up often these days about where office development stands in this cycle. A recent D Real Estate blog post articulated this question, but came up short of an answer. From our perspective, the office construction pipeline is beginning to feel pretty frothy. In the last few week we’ve updated our under construction / soon to break ground numbers a few times a week –… Read More
We continue to watch our local multifamily development market. Because construction is still near all-time highs, it is good to take its pulse from time to time to understand market momentum and direction.
Last year, we profiled the CBD and Uptown areas and looked at how the newer properties (those delivered after 2000) were performing – as well as how lease-up and rent were faring in the newest deliveries. At… Read More
We are in a period where rents are rising fast. Based on our quarterly stats, Class A rates are up 6.4% in the last year for Dallas overall. While that’s an amazing number, it is even higher in some of the popular submarkets (like 8.1% in Uptown).
JLL Senior Vice President Brooke Armstrong made the observation that Uptown has been moving particularly fast and that the buildings delivered at the end… Read More
One common news story – and a criticism of our economic recovery – is that we are creating a preponderance of low-wage jobs. Some have noted that it is easy to find work these days, but difficult to find a “good” job (aka. high paying), and that a large share of the jobs being created are in retail, health care (those are not doctors, in case you were wondering),… Read More
Now that the first quarter industrial numbers are compiled and published, we’ve had an opportunity to take a look at how DFW is stacking up. Overall, vacancy is still near the low point and rent pressures continue.
The one number that does jump out is our construction pipeline. At 24 million SF, we are at the top of what we have seen historically. We can counter the high level of… Read More
First quarter numbers were recently officially released, which has caused a great deal of discussion in regard to net absorption, which came in much lower (approximately 165,000 sf) than many people anticipated, given the 4.8 million square of net absorption we saw in 2015. The thing about net absorption is that it’s irregular and can swing widely from one quarter to the next, unlike vacancy or rental rates which move… Read More
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
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