Category: News & Market Reports

These Are Excellent Times For DFW Industrial

Posted on by Sarah

Well, 2020 was certainly a year for the ages. Before getting into what D CEO asked me to write about, the current state of the Industrial real estate market in DFW, I think it would be unmindful only to discuss business in a vacuum. The Industrial market is as strong as it has ever been, but I can’t just jump right into that. Last year was grueling for all of us, whether it was learning how to work from home, personal tribulations, Covid-19, political unrest, we have experienced a lot this year. Through the pain, heartache, and turmoil of 2020, my mind goes to a song I was listening to this weekend: There will be Better Days—2021 will have those better days. For me, 2020 started with devastating medical news I received about a loved one. A tough cancer battle would occur for months with extensive surgery and challenging odds—David vs. Goliath. Last week I found out David was cancer-free. There will be Better Days. I hope everyone who reads this blog experiences a better 2021 than 2020. Now let’s discuss the DFW Industrial market, which had a heck of a year in 2020. Click to read more at www.dmagazine.com.

Growth Opportunities in Unusual Times

Posted on by Sarah

Coming off a year when business shifted unpredictably, opportunities for growth now abound in ways we’ve never seen before. The COVID pandemic sent shockwaves through developments that previously seemed impenetrable. Office space sat empty, with rental revenues deteriorating, as employees worked from home. Restaurants struggled to stay open with carryout orders. Retail stores remained quiet as online orders grew dramatically. But behind the scenes, other industries could barely meet demand. Rail car storage yards burst to capacity, as railroads sought out places to park unused cars. Manufacturers turned away from their longtime affair with just-in-time models, instead of looking for warehouses to store the goods that would help them ride out business fluctuations and employee downtime. Here at TexAmericas Center, we knew that we didn’t want to change our entire business model for a pandemic that might only last a year or two. But at the same time, we knew our clients needed something more. So, we tweaked our business model to best serve our clientele for 2020 and 2021. That included building warehouse spec space, adding third party logistics services and using existing spaces in unique ways. Click here to read more at www.rednews.com.

Phase 1 of Woodforest Professional Plaza Now Complete; First Three Tenants Have Signed Leases

Posted on by Sarah

Montgomery, Texas (January 21, 2021) Construction is now complete on phase one of the new Woodforest Professional Plaza in Montgomery, Texas, located at 750 Fish Creek Thoroughfare. Woodforest Professional Plaza will be comprised of three buildings totaling 100,000 square feet of professional office and medical space. Phase one – Woodforest Medical Plaza 1 – is a 50,481-square-foot, two-story medical and professional office building situated on more than four acres of land. The building was developed by CMK Properties, LLC. According to the leasing team of Lisa Hughes and Pamela Sprouse of The J. Beard Real Estate Company, leasing is off to a strong start as three tenants have been signed. Anchor tenant Sterling Ridge Orthopaedics and Sports Medicine will occupy the first floor of the building by February 2021. Two other tenants, Revive Aesthetics and Regenerative Medicine and Alliance MRI Woodforest, are in the process of building out their space and will open soon. Phase two will be a 10,000 square foot build-to-suit building and phase three will be a 42,000 square foot medical and professional office building. The J. Beard Real Estate Company, LP, headquartered in The Woodlands, Texas, is one of the largest full-service commercial real estate firms in the Greater Houston area. Services offered encompass leasing, brokerage, property sales & disposition, buyer & site acquisition, landlord/tenant representation services, commercial property management, and development & consulting services. To learn more about The J. Beard Real Estate Company, visit www.jbeardcompany.com.

RESOLUT RE Closes Retail Deals Across Texas

Posted on by Sarah

RESOLUT RE recently closed five retail transactions in Texas. The deals included leases and sales in the Austin, Dallas-Fort Worth, El Paso and San Antonio markets. QuikTrip has purchased 1.47 acres at Webberville Commons (NWC of FM 969 (MLK) & Tollway 130) in Austin. Andrew Perkel of RESOLUT RE represented the seller. Brad Campbell of McAllister & Associates represented the buyer. North Texas Pharmacy has leased 1,330 square feet at Virginia Commons Plaza (2741 Virginia Pkwy, McKinney, Texas). Chris Flesner and Mai Nguyen of RESOLUT RE represented the landlord. CBD Pros has leased 1,019 square feet at 2601 N. Zaragoza Road in El Paso, Texas. Chris Duncan and Jeff Lewin of RESOLUT RE represented the tenant. Sergio Tinajero of KW Commercial represented the landlord. Fonz Salon has leased 1,050 square feet at Grandview Shopping Center (8005 Callaghan Road, San Antonio). Carolyn Bustamante and Aisha Chapa of RESOLUT RE represented the landlord. Juan Mata of Texas Premier Realty represented the tenant. West Hills Dermatology has leased 823 square feet at Plaza I-35 (12702 Toepperwein Road, San Antonio). Aisha Chapa and Carolyn Bustamante of RESOLUT RE represented the landlord. Parker LaBarge of CBRE represented the tenant.

SpaceX to Convert Offshore Oil Platforms into Spaceports

Posted on by Sarah

SpaceX has purchased two deep-water oil rigs off the Texas Gulf Coast to someday use as sea-going spaceports for their Starship spacecraft. The commercial space firm, through an entity called Lonestar Mineral Development, bought the platforms from offshore drilling company Valaris in July, according to public filings. Several media reports say Lonestar Mineral Development bought the rigs that were headed to the scrapyard for $3.5 million each, a steal compared to the original production costs between $330 and 515 million in 2008. London-based Valaris has corporate offices in Houston and filed for Chapter 11 bankruptcy in August. The new owner has renamed the rigs Deimos and Phobos, presumably after the Martian moons, according to space media outlet NasaSpaceFlight.com. Bret Johnsen, SpaceX’s chief financial officer, is listed in public records as Lonestar Mineral Developments’ principal. Click to read more at www.chron.com.

Landing the Amazon Facility: Third Time’s a Charm for Pflugerville

Posted on by Sarah

When Amy Madison first joined the Pflugerville Community Development Corp. as executive director in 2014, she immediately began looking for opportunities to bring an Amazon facility to Pflugerville. In June 2018, Madison began working alongside an Amazon site selection team to find a plot of land best fit for the job. Three site proposals later, the future facility found its match along Pecan Street, and Project Charm was formally launched. “As in, third time’s the charm,” Madison said. The PCDC hosted a behind-the-scenes panel Jan. 21 into the development process for the upcoming 3.8 million-square-foot facility, set to launch by early fall. The fulfillment center is expected to employ a minimum 1,000 employees once it is online, with plans to seek out local and regional employment in late spring. Key players behind the development who were present at the Jan. 21 panel include Jessica Breaux, economic development manager at Amazon; Jonathan Stites, senior vice president for the Texas region of Seefried Industrial Properties; and Tim Timmerman, a real estate developer and investor behind Timmerman Properties and original property owner of the project site. Click to read more at www.communityimpact.com.