Dallas-Fort Worth is proving itself to be one of the hottest markets in all areas of CRE. And right now, the numbers are pointing toward a third consecutive quarter of positive net absorption for the first time since 2018.

That’s according to CBRE’s DFW Q2 Office Market Report. In fact, Dallas’ numbers are trending up in nearly every regard.

The Bureau of Labor Statistics, as of May 2022, reported the national unemployment rate as 3.6%, maintaining the same level in April 2022. DFW’s unemployment rate during the same period was 3.3%, and Dallas has increased its number of non-farm jobs by 7.7% — nearly 300,000 — year-over-year.

Vacancy continued to drop and stood at 24.4%, down by 70 basis points from Q1 2022, marking yet another decline in vacancy and the longest streak since 2019, Deliveries were up 76.1% from 327,400 square feet to 576,550 square feet in Q2 2022 due to the recent completion of The Epic — Phase II and the PGA of America HQ. Click to read more at www.rednews.com.

CBRE announced that Lument, a leading commercial real estate finance firm, has leased 22,725 square feet of office space at Plaza of the Americas at 700 N. Pearl Street in downtown Dallas. Lument will occupy a full floor in one of the two-buildings that make up the 1.1 million-square-foot property.

Jihane Boury and Clay Vaughn with CBRE in Dallas represented Lument in lease negotiations. Transwestern’s Kim Brooks, Justin Miller and Laney Delin represented the building owners. M-M Properties, in partnership with Clarion Real Estate, a global real estate investment manager, owns the two Class A towers that comprise Plaza of the Americas.

Lument made the decision to move its current offices from 2525 McKinnon Avenue to Plaza of the Americas because of the proximity to its parent company, ORIX Corporation USA, which is just a few blocks away. Other factors included the overall central location in Dallas, the ability to modernize their space and the high concentration of amenities within the building.

Based in New York, Lument is a nationally recognized leader in multifamily and seniors housing finance. Lument is a subsidiary of ORIX Corporation USA, which unified three of its legacy real estate brands—Hunt Real Estate Capital, Lancaster Pollard and RED Capital Group—under a single banner in October 2020. Lument’s Dallas office currently has approximately 120 employees.

Located in the Dallas Arts District, Plaza of the Americas is a premier mixed-use development with two 25-story office towers, a Marriott hotel with 40,000 square feet of event space, and a 13-story glass atrium that features more than 20 retail and restaurant options and an indoor urban garden. The project features onsite parking, fitness center, conference facility, connectivity to transit at the adjacent DART Pearl/Arts District Station with additional parking and retail options accessible via skybridges to adjacent buildings.

“We are blessed and fortunate to be doing business in one of the most
desirable counties in the nation for relocation, development and acquisition!” says David Craig, Chairman and CEO of Craig International, which focuses its development in Collin County.

Perhaps the company’s most anticipated project is District 121, located along the 121 Corridor in McKinney.

“It was zoned for gas stations, fast food, small offices in the rear,” Craig
says. “We could not let that happen to this special location and the city came aboard and shared our vision for a more urban mixed use project that was of the highest quality.”

When it’s complete, the 18-acre project next to Craig Ranch will include
upscale restaurants, such as Bob’s Steak and Chop House, Mi Cocina, 400
and Zero Gradi, Common Table and more, an 8-story Class A office building,
a 102-room boutique hotel called Hotel Denizen and a .72-acre park. Click here to read more at www.rednews.com.

MetroNational announced BW Energy USA Management Inc. will move its headquarters to 9753 Katy Freeway in Memorial City. The 190,000 square-foot, contemporary nine-story Class A office building recently celebrated its topping out construction milestone in August and is slated for completion in Q2 2023.

BW Energy USA Management Inc., the Houston-based oil and gas company, has leased a 68,000 square-foot office space, occupying the top three floors at 9753 Katy Freeway. Brad MacDougall and Warren Alexander represented the landlord, MetroNational, and Griff Bandy of Partners represented the tenant, who is slated for move-in September 2023.

As the newest addition to Memorial City’s evolving 10 million square-foot campus, 9753 Katy Freeway is adjacent to the reimagined Lawn at Memorial City and new luxury high-rise, The McKinley.

“BW Energy is excited to move into such an amenity-rich, first-in-class, office tower and area of town,” said Griff Bandy at Partners. “This building provides great access to Beltway 8 and I-10 for all employees and customers.”

MetroNational owns and will manage 9753 Katy Freeway. The architect of record is Kirksey. 9753 Katy Freeway is being built to MetroNational’s highest standards, tracking LEED® Silver and WELL™ Building Standards.

The acquisition represents another Texas multifamily purchase by Cove Capital as it continues to build a portfolio of debt-free multifamily offerings for accredited investors seeking Delaware Statutory Trust 1031 Exchange or Direct-Cash real estate Investments.

LOS ANGELES, Sept. 16, 2022 /PRNewswire/ — Cove Capital Investments, LLC, a DST Sponsor Company specializing in debt-free Delaware Statutory Trusts (DSTs) and other investment offerings for accredited investors, announced it has completed the purchase of a 159-unit, 130,128 square foot value-add multifamily community in the growing Dallas Fort-Worth area.

Cove Capital a DST Sponsor Company specializing in debt-free Delaware Statutory Trusts (DSTs) and other investment offerings for accredited investors announced it has acquired a value-add multifamily asset for its Cove Dallas 59 DST.

Cove Capital a DST Sponsor Company specializing in debt-free Delaware Statutory Trusts (DSTs) and other investment offerings for accredited investors announced it has acquired a value-add multifamily asset for its Cove Dallas 59 DST. Click to read more at www.prnewswire.com.