Category: North Texas

Fast-growing tech industry bolsters DFW’s ranking as a top office market

Posted on by ginger

A surge of double-digit employment growth in Dallas-Fort Worth’s tech industry has helped push office rents up in the last two years as high-tech companies demand tech-savvy real estate.

With the largest tech-related labor pool in Texas, real estate sources say there’s no sign the demand for workplaces in North Texas will taper off anytime soon.

“Dallas-Fort Worth is identified as one of the five markets with the greatest growth potential,” said Jeff Eiting, a first vice president in CBRE’s Dallas office.

Click to read more at Dallas Business Journal. 

Dallas firm buys Northeast San Antonio medical center

Posted on by ginger

Dallas-based commercial investment firm Ridgeline Capital Partners has purchased the Connally Oaks Medical Center in Northeast San Antonio for an undisclosed amount.

The purchase price of the three-story 42,000-square-foot center was not disclosed. The Bexar County Appraisal District last assessed the property for $6.5 million. The property was purchased by an entity called Partners Medical Investors Ltd.

Click to read more at Dallas Business Journal. 

Global law firm consolidating DFW offices into new Richardson hub

Posted on by ginger

One of the largest corporate immigration law firms in the world plans to consolidate its North Texas offices in Uptown Dallas and Richardson to create a new regional hub — which, in the next few years, will be its largest office.

With the consolidation, San Francisco-based Berry Appleman & Leiden LLP (BAL) plans to bring more than 185 attorneys, paralegals and staff into one office spanning three floors totaling 61,380 square feet in Building A at the former Verizon campus at 2400 N. Glenville in Richardson. It would be the largest of the firm’s 18 global offices.

The West Coast law firm underwent an extensive real estate search of U.S. cities before the firm’s partners selected Richardson for its regional hub based on the city’s proximity to tech firms and a global workforce.

Click to read more at Dallas Business Journal.

How this New York concept made a not-so-serendipitous landing in DFW

Posted on by ginger

The arrival of New York-based Serendipity Labs Inc. to the Dallas Arts District didn’t come as a result of chance, instead, it was carefully orchestrated — much like the shared office concept itself.

And, if you talk to Founder and CEO John Arenas, it would become quite clear that Serendipity Labs knows exactly who they are and what demographic the “upscale, hospitality-driven coworking concept” is targeting, with an eye on delivering on experience.

“Our concept is deeply rooted in hospitality that delivers an experience that happens to look like coworking,” Arenas told the Dallas Business Journal during a tour of the new 29,000-square-foot flagship location in Texas.

Click to read more at Dallas Business Journal. 

San Antonio firm sells two North Texas multifamily properties for $100M

Posted on by ginger

San Antonio-based SWBC Real Estate LLC sold two North Texas multifamily properties to a Virginia-based real estate firm as part of a $100 million package.

The properties, called River Walk Village and Timberview Ranch, were sold to Weinstein Properties, which owns and manages more than 17,000 multifamily units in Virginia, North Carolina and Texas. The transaction was brokered by Will Balthrope, Drew Kile and Joey Tumminello of Institutional Property Advisors, a division of Marcus & Millichap (NYSE: MMI).

Click to read more at Dallas Business Journal. 

Global developer bringing luxury lakeside living to Lake Grapevine

Posted on by ginger

By next year, global developer Greystar expects to finish construction on a new luxury apartment and townhouse community adjacent to Lake Grapevine in Flower Mound, which will bring 426 apartments and 40 townhouses to Dallas-Fort Worth.

The 13-acre multifamily community, called Elan Flower Mound, will sit lakeside of Lake Grapevine at 2601 Lakeside Pkwy. in Flower Mound. The community has been under construction since September 2016.

Along with Elan Flower Mound, Greystar has been readying two high-profile developments in Dallas for construction in early 2018.

Click to read more at Dallas Business Journal.