Real Estate News
Zales to start construction on new Cypress Waters headquarters
Zale Corporation, a subsidiary of Signet Jewelers, is beginning construction on its new headquarters in Dallas' Cypress Waters mixed-use development. The project includes a 225,000 square foot office building and a 31,000 square foot manufacturing facility. Source: Dallas Business Journal, April 28, 2016.
$7 million revamp of office towers near Love Field is close to completion
Last year Caddo Holdings began renovation of this two-tower, 450,000 square foot office complex to bring new businesses back to the area, close to Dallas' Medical District and Love Field Airport. Now they are wrapping up the $7 million renovation, which includes new tenant lounges, golf simulator, and fitness and conference centers. Construction is expected to be completed by mid-June. Source: Dallas Morning News, May 12, 2016.
New restaurant and retail venues on the way at Dallas' Victory Park
Dallas restaurateur Tristan Simon and his company Rebees have been hired to develop new food and beverage venues for Victory Park. These will include a 4,000 square foot retail emporium with locally made goods, a 6,000 square foot restaurant and a 14,000 square foot co-working space that will have its own café. The new venues will be located on Victory Park Lane between Museum Way and High Market Street and are scheduled to open next year. Source: Dallas Morning News, May 2, 2016.
General News
Dallas' mixed income Summit Parque project wins NGBS Silver Award for Eco-Friendly Design
The National Green Building Standard (NGBS) Silver Award was recently awarded to the Summit Parque project in Dallas, to acknowledge its best-in-class construction practices for sustainable and eco-friendly design. It was designed by Dallas-based architect 5G Studio Collaborative, developed by Pinnacle Development and built by KWA Construction. It was completed in December 2015 and consists of 100 units, 75 of which are reserved for families and individuals who make 60% or less of the median family income. Source: Globe Street, May 16, 2016.
City Center News
Architect Merriman Associates helps revive downtown Dallas one building at a time
Merriman Associates has worked on more than a dozen historic buildings in downtown Dallas over the last decade, and in the process they have redesigned big pieces of the city's skyline. Current projects include the two biggest redevelopment projects ever done downtown, the $175M Statler Hotel and the $240M former First National Bank Tower projects. Source: Dallas Morning News, May 5, 2016.
Compass Health heads to downtown's Bank of America Plaza with major office lease
Compass Professional Health Services, a growing employee healthcare administration firm, is moving its offices to downtown Dallas' tallest building, the Bank of America tower on Main Street. The company has leased almost 58,000 square feet on the 57th and 58th floors in the 72-story tower. Source: Dallas Morning News, May 19, 2016.
New life for Old Dallas High-Crozier Tech
Support for redevelopment of the Old Dallas High-Crozier Tech, a historic landmark, has been approved by Dallas city leaders. Developer Matthews Southwest, already involved in several downtown projects, is a partner in the plan to revive the school building. Plans calls for offices and retail space, which given its location right across the street from the Pearl/Arts District DART rail station, will be a welcome addition to the neighborhood. Source: NBC DFW, April 27, 2016.
Small Business News
Comerica invests in two Dallas startup hubs: Tech Wildcatters and The Dallas Entrepreneur Center
Comerica Bank is teaming up with two of Dallas' best known startup hubs - The Dallas Entrepreneur Center and Tech Wildcatters - to help entrepreneurs connect to financial advice and potential investment resources. In addition, startups will be able to compete in a pitch contest that can get them entry into Tech Wildcatters, the Dallas accelerator that provides mentoring and investment up to $130,000. Source: Dallas Morning News, May 17, 2016.
Southern Dallas News
Nevada developer to bring 1.1M SF industrial hub to Southern Dallas
Dermody Properties Inc. is planning to start on a 1.1 million square foot industrial hub in southern Dallas. The development, which is being called LogistiCenterSM, is located at Bonnie View Road and Telephone Road. Dermody bought 60.2 acres of land for the project, which will cater to e-commerce companies. Construction is scheduled to start this summer, with completion of the first phase in early 2017. Source: Dallas Business Journal, May 16, 2016.
With 3.2M SF underway, developer to expand large Southern Dallas business park
Already nearly 700 acres big, industrial business park Mountain Creek is expected to get even bigger with a land expansion expected to close this summer. Dallas-based Courtland Development plans to purchase 161 acres on the north end of the park by the end of August. Courtland's Jon Napper says his plans include bringing in a barbecue or breakfast restaurant. Source: Dallas Business Journal, May 16, 2016.
 Economic Review
Federal Housing Finance Agency House Price Index - Q1 2016
 Source: Federal Housing Finance Agency, Quarterly House Price All-Transactions Index, 100 Largest Metropolitan Statistical Areas, 2016; Dallas Office of Economic Development, 2016. Values not seasonally adjusted.
- The Federal Housing Finance Agency House Price Index is calculated using home sales price information gathered from mortgages sold to or guaranteed by Fannie Mae and Freddie Mac.
- Home prices in the Dallas-Plano-Irving Metropolitan Division increased 1.95 percent in the first quarter of 2016. Over the same time period home prices for the entire U.S. rose 0.8 percent.
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