 Real Estate News
The
first 50 tenants have moved into 3700M at Cityplace, a new $100 million
apartment and retail tower on McKinney Avenue. When completed, the 21-story development will have 380
apartments and 37,000 SF of retail space. Retail tenants
will include J. Crew, Suitsupply, three restaurants, and a French bakery. Source: Dallas Morning News, September 11, 2014.
Provident Realty Advisors will break ground in October on the next phase of Preston Hollow Village. The 42-acre complex at the northwest corner of Walnut Hill Lane and North Central Expressway will include three seven-story high-rises, 511 new apartments, 61,000 SF of restaurants and retail space, a parking garage, and will be anchored by Trader Joe’s. Source: Dallas Morning News, August 19, 2014.
General News
A recent study
by Southern Methodist University estimates that the Dallas Arboretum had a $170
million impact on the North Texas region in 2013. The
number of total visitors to the
Arboretum increased
by more than 10% from 2011 to 2013, and guests generated $17 million in
spending in 2013 alone. Attractions
such as the Rory Meyers Children’s Adventure Garden continue to draw
visitors of all ages from around the world. Source: Dallas Business Journal, August 21, 2014.
Property owners in the University Crossing neighborhood of northeast
Dallas have united to form a public improvement district. In 2014,
the property assessment is expected to generate an estimated $600,000 to fund amenities
such as improved landscaping, added security, and cultural events. The city is also
planning a $3 million project in the district to widen sidewalks, add
crosswalks and improve medians on SMU Boulevard. Source: Dallas Morning News, August 23, 2014.
City Center News
Dallas
law firm Locke Lord has signed a 15-year lease to continue operations at the
Chase Tower downtown. The firm’s 320 employees will occupy 145,000 SF on floors
24-28. The announcement comes one day after disclosing plans to merge with Boston-based
law firm Edwards Wildman Palmer, creating the largest law firm based in
Dallas. Source: Dallas Morning News, September 11,
2014.
Texas
A&M University-Commerce has leased 42,000 SF of additional office space
downtown at Pacific Plaza. The university plans to devote 16,000 SF to visual
communications studies, expanding its existing program to offer a Bachelor
of Fine Arts degree with an
emphasis on new
media,
photography, art direction and design. Texas A&M University-Commerce has
served the educational needs of residents living and working in downtown Dallas
for more than 20 years. Source: Dallas Business Journal, September 10, 2014.
The
North Texas Food Bank will relocate its administrative offices to the corner of
Farmers Way and South Pearl Expressway by 2015. The
41,000 SF space, purchased from the Dallas Farmers Market last spring, will
house the food bank’s executive, philanthropy and marketing teams. Source: Dallas Business Journal, August 26, 2014.
Southern Dallas News
Chicago-based
First Industrial Realty has signed a lease for 377,000 SF of new warehouse
space, currently under construction on Cockrell Hill Road south of Interstate
30 at the Pinnacle Industrial Park. The warehouse will be completed early next
year and will be occupied
by the Dr Pepper
Snapple Group. Source: Dallas Morning News, September 10, 2014.
Developers StreetLights
Residential and Stonelake Capital Partners are planning a residential project that
will include 300 apartments, a park, and for-sale homes at
1000 Singleton Boulevard. The new development will be within walking
distance of Trinity
Groves and the Margaret Hunt Hill Bridge. Source: Dallas Morning News, September 13, 2014.
The
developers of Trinity Groves and Columbus Realty Partners are planning to build
a multi-use project directly south of the Trinity Groves restaurant
complex. The new 5-story development will include 349 apartments and
33,500 SF of retail space. Source: Dallas Morning News, September 12, 2014.
 Economic Review
Paychex | IHS Small Business Jobs Index
 - The Paychex | IHS Small Business Jobs Index provides an up-to-date measurement of the change in small business employment over the last 12 months.
- The data used in this index comes from a sample of 350,000 small businesses with less than 50 employees in the U.S.
- Dallas has led all indexed metro areas in the nation by this measurement of small business job growth for the last three months.
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