CBRE: Investors expected to bank on future hotel development in DFW

The big economic boom in the Big D has hit North Texas’ hospitality sector in a big way, with the region leading Texas in the industry and outperforming the rest of the United States.

And that’s saying a lot since CBRE researchers expect hotel occupancy to continue to increase through 2019, which has triggered real estate investors and developers to bank on the industry’s future.

Click to read more at Dallas Business Journal.

Robust economy helps DFW rank as a top U.S. housing market stronghold

With nothing expected to stop Dallas-Fort Worth’s strong and growing economy next year, some analysts say North Texas will be one of the top housing markets in the United States.

The region ranked as the No. 2 housing market in the country, behind Las Vegas, based, in part, on the region’s economic prowess, which includes a low unemployment rate and ability to build new homes for a fast-growing residential population, according to realtor.com’s 2018 National Housing Forecast released Wednesday.

Click to read more at Dallas Business Journal.

Why REITs, investors want more big data (centers) in Dallas-Fort Worth

Dallas-Fort Worth’s growing number of billion-dollar data centers and campuses seem to be attracting an even bigger investor type to the region.

The massive returns seen on pricey data centers have attracted large financial institutions and real estate investment trusts alike to the ever-expanding real estate class, said Ali Greenwood, a vice president in JLL’s Dallas office.

“Investors see tremendous returns and dividends on data centers,” Greenwood told the Dallas Business Journal“This is a very capital-intensive industry sector, and the growth we’ve seen in this asset class gives investors greater returns compared with traditional real estate classes.

Click to read more at Dallas Business Journal. 

Dallas-Fort Worth still ranks as a top U.S. market for real estate investors

Even though Dallas-Fort Worth has fallen in the rankings from the top spot two years ago to the No. 5 ranked city in the Emerging Trends in Real Estate 2018 report, PwC Partner Mitchell Roschelle said there’s no indication investor interest has swayed from Big D.

Dallas-Fort Worth, the most populous city in the Lone Star state, ranked behind smaller U.S. cities, including Seattle (No. 1), Austin (No. 2), Salt Lake City (No. 3) and Raleigh-Durham, North Carolina (No. 4), on the investor sentiment published by PwC and the Urban Land Institute.

Real estate investors have had a growing interest in smaller cities because of their relative affordability, coupled with a concentration of young, skilled workers, said Roschelle, who authored the report based on interviews and survey responses from more than 1,600 real estate professionals.

Click to read more at Dallas Business Journal. 

Big projects still in the DFW construction pipeline, with no signs of slowing

Toyota North America delivering its long-awaited corporate campus in Plano’s Legacy West could seemingly slow the amount of construction in North Texas.

But those on the ground in the region still see big projects looming on the horizon.

“I think cranes will still be flying for a while,” Neal Sleeper, president of Dallas-based Cityplace Co., told the Dallas Business Journal. “I think construction will be hot and heavy for the next two to three years.”

Cityplace Co., along with Cleveland-based Forest City Realty Trust Inc. (NYSE: FCEA and FCEB), is nearing completion on a long-awaited boutique hotel and high-rise luxury tower within the West Village.

Click to read more at Dallas Business Journal. 

South Korean manufacturer to invest $100M into DFW expansion bringing 1,600 jobs

A South Korean manufacturer is expanding its U.S. operations in North Texas, with Garland-based Nutribiotech USA Inc. bankrolling $100 million into the former Raytheon campus. The facility is being converted into a new $50 million business park.

Over the next five years, Nutribiotech USA, a subsidiary of Nutribiotech Co. Ltd. (222040:KOSDAQ), will increase its footprint from an existing 60,000-square-foot facility to more than 685,000 square feet of space. The expansion includes the renovation of 375,000 square feet of former Raytheon facilities and the construction of a new 250,000-square-foot facility adjacent to Nutribiotech’s current site.

“We have been growing very rapidly and Garland has been a critical part of the success,” Nutribiotech USA President BJ Lee said in a prepared statement. “As we look to the future, we are excited to be a valued and dynamic part of this region’s economic engine.”

Click to read more at Dallas Business Journal.