Category: North Texas

SHB Development Concludes Construction on Premium Office Space in Far North Dallas

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Stream to lease 17230 N. Dallas Parkway on behalf of SHB Development

DALLAS (February 25, 2020) – SHB Development, a commercial real estate development, sales, and leasing company, and Stream Realty Partners (Stream), a full-service national real estate investment, development, and services company, are pleased to announce construction on 17230 N. Dallas Parkway will come to completion in April of 2020.

“With construction underway, our team is confident Stream will be an invaluable partner in the success of this project,” said Lino Andreani, partner of SHB Development. “Their expertise and vision will help bring this project to fruition, and ensure the building is delivered to the ideal tenant.”

The two-story, Class A office building, will contain 48,000 square feet of office space with a best-in-class amenity base. The building offers smaller organizations the opportunity to occupy the entire space, encouraging team collaboration and a sense of community. With 14-foot slab-to-slab heights, highly efficient rectangular floor plates, and generous window lines that provide natural light, 17230 N. Dallas Parkway delivers a modern and efficient office experience in one of DFW’s newest office buildings.

Located in the lower tollway submarket, this property is on the east side of the Dallas North Tollway just west of Bent Tree Country Club. The property’s location provides tenants the opportunity for premium signage with incredible tollway visibility. In addition to its close proximity to Love Field, DFW and Addison airports, the property allows for quick access to numerous restaurants and retail options. The area features additional neighborhood amenities such as Village on the Parkway, Restaurant Row, Prestonwood Town Center, Galleria Dallas, Addison Circle, and Vitruvian Park.

“Far North Dallas has a high demand for premium office space, and this building offers a highly sought-after, contemporary space for companies to flourish,” said Rhett Miller, vice president of Stream’s Dallas office division. “Optimally positioned to provide access to the most active areas of DFW, the property is sure to attract a variety of tenants.”

Rhett Miller and J.J. Leonard of Stream’s Dallas team will lease the property on behalf of SHB Development.

About Stream Realty Partners

Stream is a commercial real estate firm with full-service offerings in leasing, property management, development, construction management, and investment sales services across the industry. In addition, Stream is dedicated to sourcing acquisition and development opportunities for the firm and its clients. Since 1996, Stream has grown to a staff of more than 850 real estate professionals with regional offices in Atlanta, Austin, Charlotte, Chicago, Dallas, Denver, Fort Worth, Greater Los Angeles, Houston, San Antonio, San Diego, and Washington, D.C. Stream completes more than $2.9 billion in real estate transactions annually and is an active investor and developer across the nation.

Visit www.streamrealty.com.

Fort Worth under consideration for electric vehicle assembly facility

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Fort Worth is among the sites under consideration for an assembly facility and engineering technical center for a major manufacturer of electric vehicles. Vancouver-based ElectraMeccanica has identified seven states as finalists and sent an initial request for proposals to the chief economic development entities in Phoenix, Denver, Orlando or Central Florida, Raleigh-Durham, North Carolina, Spartanburg, South Carolina, and Nashville, as well as Fort Worth. The leading location and backup sites are expected to be announced in the third quarter of 2020. ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO), a designer and manufacturer of electric vehicles, has engaged BDO USA’s Site Selection & Business Incentives Practice, to lead the company’s search for an assembly facility and engineering technical center in the United States, the company announced Feb. 17. ElectraMeccanica says they intend to begin commercial production and delivery of its single-seat, three-wheeled SOLO EV during 2020 with its contract manufacturing partner and strategic investor, Zongshen Industrial Group, in Chongqing, China. In conjunction with the proposed new ElectraMeccanica U.S. facility, Zongshen will continue to manufacture SOLO EVs for the global market, while also supplying knock-down kits for assembly in the United States. Click to read more at www.fortworthbusiness.com.

Avison Young Dallas 2020 Expectations

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Dallas fundamentals remain solid. While no longer performing at the breakneck pace of 2016 and 2017, the market as a whole is still witnessing near-record levels in regards to construction, absorption and sales. Underlying threats that will need to be addressed include flight-to-quality patterns that are putting large supplies of 1970s and 1980s product at risk of being obsolete if not renovated, along with notable cost-of-living increases
that threaten to make corporate relocations less appealing. In the near term, however, Dallas is likely to remain one of the strongest performing metros in the U.S. Click to read more at www.rednews.com.

Topgolf confirms details of ‘family fun’ complex planned on I-35

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Dallas-based Topgolf will place a new venue in Waco that features a one-story complex filled with climate-controlled hitting bays, its signature ball-tracing games, food service, and yard games to create a “backyard” feel, Topgolf officials announced Wednesday. Waco’s Topgolf should open by fall this year near New Road and Interstate 35, between the Harley Davidson dealership and Central Texas Marketplace. Plano-based Cinemark has announced it will place there a 14-screen theater as part of NewQuest Properties’ Cottonwood Creek Market development. Topgolf has become a popular attraction in larger metropolitan areas, offering high-tech driving ranges, seat-side food and drink service, big-screen TVs and electronic scoring spread over the towering, three-story venues. It has almost 60 locations across the United States and abroad, attracting 20 million guests annually, according to Wednesday’s press release announcing the company’s plans in Waco. Click to read more at www.wacotrib.com.

Report: Dallas tops nation for office, job growth

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Dallas-Fort Worth held the top job growth market in the U.S. in 2019, with an employment gain of more than 120,000 jobs during the year ending in November, the commercial real estate firm CBRE reports. Dallas-Fort Worth office growth topped all other cities in the U.S. in 2019, CBRE’s most recently published forecast notes. Last year, expanding and relocating office tenants net-leased about 3.5 million square feet of office space – one of the best totals in a decade, according to the report. “U.S. office-using employment is widely expected to grow again in 2020, albeit at a slower pace than in 2019,” the report found. It notes that global centers of technology in San Francisco, business-friendly Texas, and high-growth southeast metros are “expected to be the top markets for office-using jobs growth in 2020.” Office jobs in the Dallas area grew 5.7 percent in 2019 – more than that of San Francisco’s and Seattle’s, CBRE found. The Dallas area continues to look strong through 2020 with forecast growth of 2.1 percent. The “Big D” also outpaced Houston and Charlotte, N.C., two other fast-growing economies, in year-over-year office job gains, the report found. Click to read more at www.thecentersquare.com.

AllianceTexas generates $7B plus in 2019

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AllianceTexas, the 26,000-acre master-planned, mixed-use community in north Fort Worth, continues to be one of the region’s most substantial economic engines with approximately $83.74 billion generated in regional economic impact and nearly $2.53 billion in total taxes paid to local public entities. According to the annual Insight Research Corporation report, more than $7.31 billion of the development’s economic impact was generated in 2019 alone, AllianceTexas said in a news relapse. advertisement
AllianceTexas is home to 525 companies, which have built more than 50 million square feet, transforming the North Texas economy and connecting the area to global industry. Widely considered one of the most successful public-private partnership endeavors in the nation, total investment at AllianceTexas surpassed $10.5 billion in 2019, with $9.7 billion coming from the private sector. Public investment totaling more than $782 million has been invested in the project to date, representing a 12-to-1 private-to-public-dollar investment multiple, the news release said. Click to read more at www.fortworthbusiness.com.