Jane Nodskov, ICO Commercial-Moderator; Phil Crane, Providence Commercial Real Estate Services, Inc (San Antonio).; Saadia Sheikh, ESRP (Dallas-Ft. Worth Metroplex); Travis Waldrop, Carr Development, Inc. (Austin)
Dallas-Ft. Worth Metroplex:
- This megamarket is 7 million people and growing; its economy is very diverse; commercial real estate segments enjoying 2.5% annual rent growth
- Huge corporate inbound relocation to North Dallas-1.7 mm SF Toyota; 2 mm SF State Farm; 1.4 mm SF JP Morgan; 1.1 mm SF Liberty Mutual, and many many smaller moves
- Frisco and Plano – two northern suburbs – have more office SF than all of Austin
- There is some new office development in CBD although there is an overhang of old space as tenants vacate and move to the northern suburbs
- Industrial market is huge and getting bigger
- The commercial center of gravity in Dallas is moving to the north, where a new CBD of sorts is forming