DALLAS–Yes, the COVID-19 pandemic wreaked havoc on commercial real estate, with virtually no product type escaped unscathed. And while the greater economy took a hit, the recession was purely a reaction to imposed shutdowns. Therein lies the hope for not just the real estate industry, but the overall economic picture as well, says Justin Wilbur, SVP of KeyBank Real Estate Capital’s Central region. “Since the real estate fundamentals were there at the start of 2020, once the pandemic is largely behind us, I hope to see a sharp turn toward growth,” he tells GlobeSt.com. Admittedly, he adds that the impact will still be felt going into the new year. He notes that the Central region of the US sustained lending activity better than did the coasts. “The Texas markets specifically are seeing multifamily construction and acquisition move forward,” he says, and this has had a ripple effect, which is “carrying over to some of the surrounding states, which is a good sign.” That’s not to say volumes are keeping pace with that of last year. Wilbur says that even the Central markets have seen the impact the slowdown has had on sectors such as hospitality and retail. Office and industrial, while affected less severely, have also felt the pinch. Click to read more at www.globest.com.

Dallas-based M2 Studio’s Michael Potts, a self-described holographic architect, has built digital experiences for Klyde Warren Park, Texas Health Resources, and more. The technology can apply to all types of businesses, he says. For one thing, companies can expand beyond a typical video call with AR avatar meetings. As the COVID pandemic continues to derail business travel plans, it hasn’t stopped Dallas’ Michael Potts from visiting with clients and business associates across the globe in their offices, conference rooms, living rooms, etc. Potts and others at his company—M2 Studio—work with architects, landscape architects, interior designers, engineers, construction companies, and developers to visualize their projects. But rather than building models out of wood and paper, he renders plans in the interactive, 3D digital realm, allowing him to present them remotely, using interactive, extended reality (XR) technology. In the Q&A below, Potts—a self-described holographic architect—discusses how the technologies work for his business, and how they might apply to others. Dallas Innovates: How has this technology been used in some of your projects, and how do you think it affects how people think about things, especially in the age of COVID-19? Michael Potts (MP): We have been producing VR content for built projects for about 14 years, but over the past four to five years, we have started to see greater adoption and acceptance of this technology. Click to read more at www.dallasinnovates.com.

The commercial real estate industry honored 16 properties with The Outstanding Building of the Year (TOBY) Award at the first-ever virtual awards ceremony hosted by the Building Owners and Managers Association (BOMA) International. Four of those awards went to BOMA 360 Performance Program-designated properties located in Chicago. In the Medical Office Building category, the winner was the Baylor Scott & White Charles A. Sammons Cancer Center in Dallas. The BOMA 360 Performance Program-designated building is owned and managed by Physicians Realty Trust. Las Cimas II & III in Austin won the Suburban Office Park Low-Rise award. The BOMA 360 Performance Program-designated building is owned by Las Cimas Owners, LP and managed by Cushman & Wakefield. The TOBY Awards are the commercial real estate industry’s highest recognition honoring excellence in building management and operations in 16 categories of building type or size. The 2020 competition featured 78 buildings from eight BOMA International regions. These buildings first won a TOBY Award from their BOMA local association and then went on to compete and win at the regional level. Judging is based on criteria that includes community impact, tenant and employee relations programs, energy management, accessibility, emergency evacuation procedures, building personnel training programs and overall quality indicators. A team of industry experts also conducted comprehensive building inspections.

Clarion Partners and Crow Holdings Capital (CHC), in partnership with Rob Riner Companies, have acquired 556 acres in South Forth Worth, Texas to develop a state-of-the-art industrial and logistics park totaling approximately 7 million square feet. The master-planned park, named Cater Park East, will be developed in multiple phases, including speculative and built-to-suit construction, in addition to critical road infrastructure. “Across the country, we continue to experience resilient demand for industrial space, particularly in high-growth Dallas-Fort Worth,” said Matt Colter, managing director of industrial at CHC, who will partner with Rob Riner Companies as primary developers. “This is a long-term focus for us and an incredible opportunity to partner with market leaders like Clarion and Rob Riner in a submarket where we’ve experienced some recent success.” Initial site work at Carter Park East will commence in July 2020. The estimated delivery date for the first speculative phase of development, including improvements to Oak Grove Road, is summer 2021. The largest areas of the site will be marketed for build-to-suit users. “The site dimensions at Carter Park East are wide enough to capture a large bulk user up to 1.8 million square feet in this coveted location,” Colter said. “We are developing all new roads adjacent to the site for seamless access. Tenants frequently talk about the labor advantage at this location. Altogether, this project should compete well across any range of industrial users looking for space in DFW.” “In 2006 we developed a vision for this site. It has been many years in the making, but today, we’re excited to see this vision realized,” said Rob Riner of Rob Riner Companies. “This site is the hole in the map for bulk e-commerce, food, manufacturing and distribution-type users that would benefit from expanding the coverage of their network with a facility in South Fort Worth.” “For such a big site, it is very infill,” said Andy Lowe, managing Director at Clarion Partners. “Carter Park East’s location will provide tenants the access, labor, amenities and functional modern distribution product that has, historically, not been available in South Fort Worth.” Seth Koschak, Forrest Cook and Jeff Rein with Stream Realty Partners, a national real estate services, development and investment company, have been selected as the leasing team for the project. “We are thrilled to be part of Carter Park East,” said Koschak, managing director and partner of Stream’s Fort Worth office. “It will serve as a true destination hub for tenants and provide something a bit different from other projects found in the marketplace by way of amenities and other offerings. We have a blank canvas, so if tenants need something unique or specific that is not typically found in speculative design, we have the ability to accommodate them and move swiftly.”