The list of new retail stores planned for Dallas-Fort Worth (DFW) is short this year, and most projects complete developments that opened in 2009, according to an annual shopping center study released by Dallas-based Weitzman Group.
Last year, the region added 2.9 million sf of retail space, the lowest this decade and well below 2008's 4.7 million. The area just barely posted a gain in net leasing of 464,404 sf.
This year, DFW is poised to add a mere 1 million sf of retail space.
Occupancy rates are also the lowest of the decade. Last year, 86.4 percent of shopping center space was leased. The peak in recent years was 91 percent in 2002.
With 179 million sf, DFW is the largest retail market in Texas and one of the largest in the U.S.
While there are no major new projects in the works, the region is doing better than other U.S. markets, said Bob Young, managing director of the Weitzman Group. "Even with our challenges, DFW has performed as good, or better, than any market."
Kroger's director of real estate, Terry Evans, said the state is getting its fair share of the nation's No. 2 grocer's capital spending. Half of Kroger's 210 stores in Texas have been remodeled, expanded or relocated in recent years, and that has helped it increase its market share.
It's opening its first local Marketplace store in Frisco today and expects to open a second in Fort Worth's Alliance Town Center by year's end.
In 2011, Kroger is planning a third Marketplace store in Little Elm.
In March, German-owned discount grocer Aldi Inc. will start opening the first of its planned 27 stores for North Texas.
Whole Foods Market opens at Park Lane in March. Dillard's, The Container Store and Whole Foods are part of this year's expansion of the Village at Fairview.
Rounding out the list is a Tom Thumb-anchored center under construction in Rockwall and the first phase of Denton's Rayzor Ranch project of small-shop retail and possibly Walmart and Sam's Club.
[Dallas Morning News]
Thursday, January 28, 2010
Broadstone Parkway in Dallas near Galleria changes hands
(Dallas) - USAA Real Estate Co. acquired Broadstone Pkwy., a 331,473-sf, Class A mixed-use development in Dallas from Bank of America.
The property includes 333 residential units and 40,070 sf of retail space on 7.4 acres at 5005 Galleria Dr. across from the Galleria Dallas. The units are less than 7 percent vacant while the retail portion has a nearly 58 percent vacancy.
The property includes 333 residential units and 40,070 sf of retail space on 7.4 acres at 5005 Galleria Dr. across from the Galleria Dallas. The units are less than 7 percent vacant while the retail portion has a nearly 58 percent vacancy.
Byron Nelson tourney home Four Seasons at Las Colinas facing foreclosure
One of the Dallas area's most exclusive hotel properties is facing a possible foreclosure.
Lenders have filed to foreclose on the Four Seasons Resort and Club Dallas at Las Colinas, a 400-acre hotel, spa and golf club in Irving.
The more than 400-room hotel is one of the state's top-rated accommodations and hosts the annual HP Byron Nelson Championship golf tournament.
U.S. Bank NA is seeking repayment of a $183 million loan on the property and has scheduled a forced sale on Feb. 2, according to legal filings.
The foreclosure posting is the largest in North Texas in more than 20 years.
"I don't think we've seen one this large in the business cycle," said George Roddy, CEO of Addison-based Foreclosure Listing Service. "That's a very big complex."
The California-based owners of the Four Seasons Resort have been in a dispute with the project's lenders since last fall.
In November, a lawyer for Los Angeles-based BentleyForbes said the borrowers had missed a scheduled debt payment and were negotiating with the mortgage holders. He said the lenders were taking tactical moves to "get their attention."
The Four Seasons has been on watch lists of major properties with troubled debt for several months while negotiations with the lenders were continuing.
The hotel owner said Wednesday that the foreclosure posting was not unexpected.
"BentleyForbes remains in proactive discussions with its lenders at the Four Seasons Dallas and is committed to working out a successful financial structure recognizing the interests of all vested entities that will bridge the challenges of the current situation," spokesman Chris Egger said.
"BentleyForbes has demonstrated its good faith and continued commitment to the Four Seasons Resort & Club Dallas at Las Colinas through $60 million of improvements during the past two years, improvements that reflect a significant contribution of capital and vision to the long-term success of the property."
BentleyForbes has owned the Irving resort complex since 2006. Four Seasons operates the facility with a long-term contract.
"We do not expect any change in our day-to-day operations or services," Las Colinas Four Seasons general manager Michael Newcombe said Wednesday. "This request for [debt] restructuring is consistent with similar actions being taken by many hotel owners nationally and internationally in response to global economic conditions. We are not unique in this regard."
George Conant, tournament chairman for the 2010 HP Byron Nelson Championship, said the golf tournament will not be affected.
"We are pleased with the improvements that have been made to the property in recent years to enhance the golf and fan experience at the tournament, and we look forward to another fantastic championship this May," he said.
The hotel complex is by far the largest such property to wind up on North Texas foreclosure lists in recent years.
In 2001, lenders foreclosed on the 286-room Westin Beechwood hotel in North Fort Worth, but the debt on that property was only $53.5 million.
Last year more than 2,400 commercial properties, including hotels, were posted for foreclosure in the Dallas-Fort Worth area, according to Foreclosure Listing Service.
Commercial foreclosure filings were up 27 percent in 2009.
Source: Dallas News
Plano Foreclosures
Lenders have filed to foreclose on the Four Seasons Resort and Club Dallas at Las Colinas, a 400-acre hotel, spa and golf club in Irving.
The more than 400-room hotel is one of the state's top-rated accommodations and hosts the annual HP Byron Nelson Championship golf tournament.
U.S. Bank NA is seeking repayment of a $183 million loan on the property and has scheduled a forced sale on Feb. 2, according to legal filings.
The foreclosure posting is the largest in North Texas in more than 20 years.
"I don't think we've seen one this large in the business cycle," said George Roddy, CEO of Addison-based Foreclosure Listing Service. "That's a very big complex."
The California-based owners of the Four Seasons Resort have been in a dispute with the project's lenders since last fall.
In November, a lawyer for Los Angeles-based BentleyForbes said the borrowers had missed a scheduled debt payment and were negotiating with the mortgage holders. He said the lenders were taking tactical moves to "get their attention."
The Four Seasons has been on watch lists of major properties with troubled debt for several months while negotiations with the lenders were continuing.
The hotel owner said Wednesday that the foreclosure posting was not unexpected.
"BentleyForbes remains in proactive discussions with its lenders at the Four Seasons Dallas and is committed to working out a successful financial structure recognizing the interests of all vested entities that will bridge the challenges of the current situation," spokesman Chris Egger said.
"BentleyForbes has demonstrated its good faith and continued commitment to the Four Seasons Resort & Club Dallas at Las Colinas through $60 million of improvements during the past two years, improvements that reflect a significant contribution of capital and vision to the long-term success of the property."
BentleyForbes has owned the Irving resort complex since 2006. Four Seasons operates the facility with a long-term contract.
"We do not expect any change in our day-to-day operations or services," Las Colinas Four Seasons general manager Michael Newcombe said Wednesday. "This request for [debt] restructuring is consistent with similar actions being taken by many hotel owners nationally and internationally in response to global economic conditions. We are not unique in this regard."
George Conant, tournament chairman for the 2010 HP Byron Nelson Championship, said the golf tournament will not be affected.
"We are pleased with the improvements that have been made to the property in recent years to enhance the golf and fan experience at the tournament, and we look forward to another fantastic championship this May," he said.
The hotel complex is by far the largest such property to wind up on North Texas foreclosure lists in recent years.
In 2001, lenders foreclosed on the 286-room Westin Beechwood hotel in North Fort Worth, but the debt on that property was only $53.5 million.
Last year more than 2,400 commercial properties, including hotels, were posted for foreclosure in the Dallas-Fort Worth area, according to Foreclosure Listing Service.
Commercial foreclosure filings were up 27 percent in 2009.
Source: Dallas News
Plano Foreclosures
Thursday, January 07, 2010
North Dallas Luxury Neighborhoods
North Dallas has many luxurious neighborhoods, but not all are located in "Dallas-proper," many are located in the suburbs adjacent to Dallas. The luxury neighborhoods in Plano, Allen, Frisco, McKinney and Carrollton offer residents the benefits of Dallas, without the traffic and congestion. Some of the suburb areas, such as Prosper, Frisco and Argyle give home owners the opportunity to own sprawling ranches with equestrian stables and much more. The top North Dallas Luxury Neighborhoods of the moment are:
North Dallas Luxury Homes
- Willowbend - Plano, TX
- Bent Tree - Plano, TX
- Starwood - Frisco, TX
North Dallas Luxury Homes
Wednesday, December 23, 2009
Dallas housing poised for a rebound – but how big?
After slogging through two years of decline, the North Texas housing market is headed for a rebound in 2010. The only question, analysts say, is how strong the bounce-back will be. And that depends on the economy, of course."Any sustained turnaround in sales and construction activity will definitely depend on the economy and job growth," said D'Ann Petersen, a business economist at the Federal Reserve Bank of Dallas. "We do see increasing signs that the local economy has bottomed out, and business contacts say they are through cutting staff."
Petersen said there are signals that the worst is over for the Dallas-Fort Worth housing market. Next year will look better for builders and buyers.
"It will be slow going in 2010, but I do think that Dallas' housing market is in a better position than many other areas of the country to respond to positive economic growth," she said.
During the last two months, sales of pre-owned homes have increased significantly from year-ago numbers, and price declines have slowed. At the same time, the number of homes for sale in North Texas has fallen to the lowest level in more than two years.
Given the demand from homebuyers, builders will have to start more houses in 2010, said David Brown, an analyst with Metrostudy Inc.
"There now is currently less than a six-month supply of homes priced under $250,000 and just over a six-month supply of homes priced between $250,000 and $500,000," Brown said.
Full Story: Dallas News
Petersen said there are signals that the worst is over for the Dallas-Fort Worth housing market. Next year will look better for builders and buyers.
"It will be slow going in 2010, but I do think that Dallas' housing market is in a better position than many other areas of the country to respond to positive economic growth," she said.
During the last two months, sales of pre-owned homes have increased significantly from year-ago numbers, and price declines have slowed. At the same time, the number of homes for sale in North Texas has fallen to the lowest level in more than two years.
Given the demand from homebuyers, builders will have to start more houses in 2010, said David Brown, an analyst with Metrostudy Inc.
"There now is currently less than a six-month supply of homes priced under $250,000 and just over a six-month supply of homes priced between $250,000 and $500,000," Brown said.
Full Story: Dallas News
Tax credit drives surge in home sales
WASHINGTON (AP) -- Extraordinary government efforts to stabilize the housing market are paying off. What happens when the help runs out is anyone's guess.
Sales of previously occupied homes surged in November to the highest level in nearly three years, spurred by federal subsidies for starter homes and a massive Federal Reserve push to drive down mortgage rates.
The strong figures were driven by a race to take advantage of a tax credit of up to $8,000 for first-time homebuyers. The credit has since been extended to next spring, but the government initially planned to end it Nov. 30.
"It was like the end of the world," said real estate agent Stephanie Somers of Re/Max Access in Philadelphia. "All the first-time buyers converged onto that one month."
The pace of home sales is now up 46 percent from its bottom in January and still 10 percent shy of its peak from four years ago, according to data released Tuesday by the National Association of Realtors.
The real estate recovery depends not only on taxpayer dollars but also on the health of the economy at large, which grew at a less robust pace in the third quarter than previously thought.
The economy grew at a 2.2 percent annual pace from July to September, down from an initial reading of 2.8 percent, the government said Tuesday.
Experts think the economy is even stronger now than it was last quarter, but they expect it to ebb again early next year. And that's when the tax credit will wind down and the Fed plans to stop buying mortgage-backed securities, which could raise mortgage rates.
Whether the real estate rebound can continue without the help remains to be seen.
Full Story: Dallas News
North Dallas Luxury Real Estate
Incomes, spending post gains; new-home sales sink
WASHINGTON (AP) -- Personal incomes rose in November at the fastest pace in six months, while spending posted a second straight increase. But economists cautioned that the gains remain too weak to sustain a strong economic recovery.
The Commerce Department said Wednesday that personal incomes rose 0.4 percent in November, helped by a $16.1 billion increase in wages and salaries. It reflected the drop in unemployment that occurred last month.
The rise in incomes helped bolster spending, which rose 0.5 percent in November. Still, both the income and spending gains were slightly less than economists had expected.
After taking inflation into account, after-tax incomes are rising at an annual rate of just 1.2 percent. Economists say the recovery will require higher levels of income and spending. This is especially true at a time when households are using some income to shrink debt loads and rebuild savings, rather than spend.
"Annualized income growth of a little over 1 percent will not be enough to drive a significant recovery in consumption at the same time that debt needs to be paid down," said Paul Dales, U.S. economist at Capital Economics.
Contributing to the cautionary picture was a separate report Wednesday that sales of new homes plunged unexpectedly last month to the lowest level since April. November's sales fell 11.3 percent. And sales were down 9 percent from a year ago.
The median sales price of $217,400 was down nearly 2 percent from $221,600 a year earlier, though up about 4 percent from October's level of $209,400.
The report signaled that the housing market's recovery remains rocky.
Economists viewed the two reports as evidence that the recovery from a deep recession is proceeding in fits and starts, with households struggling with a bleak job market. At the same time, analysts said the economy is much improved from this time last year, when the nation was gripped by the financial crisis.
"People are continuing to pay down their debts, and they remain concerned about their financial futures and whether they will have jobs," said Sal Guatieri, an economist at BMO Capital Markets. "Santa's toy bag won't exactly be brimming with goodies this year, but at least he will show up, unlike last year."
Full Story: Dallas News
The Commerce Department said Wednesday that personal incomes rose 0.4 percent in November, helped by a $16.1 billion increase in wages and salaries. It reflected the drop in unemployment that occurred last month.
The rise in incomes helped bolster spending, which rose 0.5 percent in November. Still, both the income and spending gains were slightly less than economists had expected.
After taking inflation into account, after-tax incomes are rising at an annual rate of just 1.2 percent. Economists say the recovery will require higher levels of income and spending. This is especially true at a time when households are using some income to shrink debt loads and rebuild savings, rather than spend.
"Annualized income growth of a little over 1 percent will not be enough to drive a significant recovery in consumption at the same time that debt needs to be paid down," said Paul Dales, U.S. economist at Capital Economics.
Contributing to the cautionary picture was a separate report Wednesday that sales of new homes plunged unexpectedly last month to the lowest level since April. November's sales fell 11.3 percent. And sales were down 9 percent from a year ago.
The median sales price of $217,400 was down nearly 2 percent from $221,600 a year earlier, though up about 4 percent from October's level of $209,400.
The report signaled that the housing market's recovery remains rocky.
Economists viewed the two reports as evidence that the recovery from a deep recession is proceeding in fits and starts, with households struggling with a bleak job market. At the same time, analysts said the economy is much improved from this time last year, when the nation was gripped by the financial crisis.
"People are continuing to pay down their debts, and they remain concerned about their financial futures and whether they will have jobs," said Sal Guatieri, an economist at BMO Capital Markets. "Santa's toy bag won't exactly be brimming with goodies this year, but at least he will show up, unlike last year."
Full Story: Dallas News
Tuesday, September 15, 2009
Economic development leaders bullish on Dallas area
Economic development leaders bullish on Dallas area
By Steve Brown / The Dallas Morning News
September 4, 2009
The Dallas-Fort Worth area is well-positioned to grow new business after the recession ends, economic development leaders predicted Thursday in a presentation to a local real estate group.
"We have a lot of things going for us," Karl Zavitkovsky, the city of Dallas' director of economic development, told executives at a meeting of the North Texas CCIM real estate property group. "I think we will come out of this earlier than elsewhere in the country and in a lot better shape."
North Texas is not at the epicenter of today's economic and housing downturn, as it was in two previous economic ones – the 1980s savings and loan crash and the more recent burst of the dot-com bubble.
Full Story
By Steve Brown / The Dallas Morning News
September 4, 2009
The Dallas-Fort Worth area is well-positioned to grow new business after the recession ends, economic development leaders predicted Thursday in a presentation to a local real estate group.
"We have a lot of things going for us," Karl Zavitkovsky, the city of Dallas' director of economic development, told executives at a meeting of the North Texas CCIM real estate property group. "I think we will come out of this earlier than elsewhere in the country and in a lot better shape."
North Texas is not at the epicenter of today's economic and housing downturn, as it was in two previous economic ones – the 1980s savings and loan crash and the more recent burst of the dot-com bubble.
Full Story
Friday, September 04, 2009
It's a Great Time for 1st Time Home Buyers
It's the best time ever for first time home buyers to buy a home. While the real estate market has experienced turmoil, the programs that have always been there to help first-time-home-buyers are still in place. (Bankrate.com) Combine the existing programs with low home prices and low interest rates and you have a formula for a successful first home purchase!
Federal Aid
There are also federal aid incentives in place to encourage first time buyers to purchase homes. "As part of the economic stimulus package, a tax credit worth 10 percent of the purchase price up to $8,000 is available to first-time homebuyers as long as they sign on the dotted line this year. Unlike previous tax credits for first-time buyers, this one does not require repayment."
Full Story Bankrate
Federal Aid
There are also federal aid incentives in place to encourage first time buyers to purchase homes. "As part of the economic stimulus package, a tax credit worth 10 percent of the purchase price up to $8,000 is available to first-time homebuyers as long as they sign on the dotted line this year. Unlike previous tax credits for first-time buyers, this one does not require repayment."
Full Story Bankrate
Dallas Area Home Listings Fall Substantially
SOURCE: DALLAS NEWS
"North Texas homebuyers who are hoping to find a huge supply of houses for sale may be in for a surprise. While many markets in Florida and the West are suffering from a surplus of for-sale signs, the number of houses available in the Dallas-Fort Worth area has fallen substantially in the last year.
The supply of pre-owned homes for sale is down almost 17 percent from this time last year and has fallen by a quarter from the summer of 2007.
The drop in inventory of newly built homes is even steeper – about 50 percent since mid-2007."
Full Story Dallas News
"North Texas homebuyers who are hoping to find a huge supply of houses for sale may be in for a surprise. While many markets in Florida and the West are suffering from a surplus of for-sale signs, the number of houses available in the Dallas-Fort Worth area has fallen substantially in the last year.
The supply of pre-owned homes for sale is down almost 17 percent from this time last year and has fallen by a quarter from the summer of 2007.
The drop in inventory of newly built homes is even steeper – about 50 percent since mid-2007."
Full Story Dallas News
Obama's Making Home Affordable Plan
The Making Home Affordable Program is part of the Obama Administration's broad, comprehensive strategy to get the economy and the housing market back on track. The Making Home Affordable Program offers two different potential solutions for borrowers: (1) refinancing mortgage loans, through the Home Affordable Refinance Program (HARP), and (2) modifying mortgage loans, through the Home Affordable Modification Program (HAMP).
President Obama recently announced the Administration's plan to further prevent foreclosures and assist borrowers with mortgage loan modifications. The Making Home Affordable program is a $75 billion plan to assist customers who are struggling to make their mortgage payments.
Find Out if You Are Eligible
Making Home Affordable.gov
President Obama recently announced the Administration's plan to further prevent foreclosures and assist borrowers with mortgage loan modifications. The Making Home Affordable program is a $75 billion plan to assist customers who are struggling to make their mortgage payments.
Find Out if You Are Eligible
Making Home Affordable.gov
Dallas Home Sales Showing Gains, Fueling Optimism
Dallas Home rose to 2.7% in May to June 2009, the highest level since last September, according to the closely watched Standard & Poor's/Case-Shiller Index. It was the fourth consecutive month of gains in the Dallas index price, S&P said Tuesday.
And the Federal Housing Finance Agency said that Dallas-area prices were up slightly in the second quarter.
The higher prices are a good sign for the local housing market, which has suffered declines for almost two years.
But analysts say not to get overly optimistic about a rebound.
"These are good indications, and sure, it's better than going down further," said Dr. James Gaines, an economist at the Real Estate Center at Texas A&M University. "The thing that is concerning to everybody is there is still job loss and no job creation.
Full Story Dallas News
And the Federal Housing Finance Agency said that Dallas-area prices were up slightly in the second quarter.
The higher prices are a good sign for the local housing market, which has suffered declines for almost two years.
But analysts say not to get overly optimistic about a rebound.
"These are good indications, and sure, it's better than going down further," said Dr. James Gaines, an economist at the Real Estate Center at Texas A&M University. "The thing that is concerning to everybody is there is still job loss and no job creation.
Full Story Dallas News
Thursday, August 20, 2009
Dallas Directory Listings...
Dallas Directory Listings
- Dallas Auto Lease
- Dallas Chevy Dealers
- Dallas Lexus Dealers
- Dallas Mercedes Dealers
- Dallas Toyota Dealers
- Dallas Honda Dealers
- Dallas Kia Dealers
- Dallas Ford Dealers
- Dallas BMW Dealers
- Dallas Jaguar Dealers
- Dallas Used Car Dealers
- Dallas Tires
- Dallas Oil Change
- Dallas Auto Body
- Dallas Paintless Dent Repair
- Dallas Auto Painters
- Dallas Auto Glass
- Dallas Windshield Repair
- Dallas Car Rental
- Dallas Auto Insurance
- Dallas Power Wash
- Dallas Car Wash
- Dallas Boats
- Dallas Auto Racing
- Dallas Shopping
- Dallas Clothing Stores
- Dallas Furniture
- North Park Mall
- Galleria Mall
- Modern / Urban Home
- Dallas Fashion
- Dallas Boutiques
- Dallas Home Accessories
- Dallas Shoe Stores
- Dallas Big & Tall
- Dallas Computer Stores
- Dallas Book Stores
- Dallas Consignment
- Dallas Fabric Stores
- Dallas Furniture Stores
- Dallas Antique Stores
- Dallas Leather Furniture
- Dallas Dinettes
- Dallas Mattress
- Dallas Beds
- Dallas Linens
- Dallas Bedroom Furniture
- Dallas Wholesale
- Dallas Bathroom
- Dallas Jewelry
- Dallas Gold
- Dallas Accessories
- Dallas Perfume
- Dallas Department Stores
- Dallas Grocery Stores
Friday, July 31, 2009
Forbes Names McKinney, TX 9th Best Place to Live in US
Pegasus News
July 13, 2009 - Pegasus News - McKinney was recently named as one of the 25 Best Places to Move in the country by Forbes.com, coming in at #9. Out of the list of 25, six cities are in the Dallas metropolitan area, including Flower Mound at #6, Frisco at #7, McKinney at #9, Carrollton at #12, Allen at #19, and Plano at #25.
Full Story
July 13, 2009 - Pegasus News - McKinney was recently named as one of the 25 Best Places to Move in the country by Forbes.com, coming in at #9. Out of the list of 25, six cities are in the Dallas metropolitan area, including Flower Mound at #6, Frisco at #7, McKinney at #9, Carrollton at #12, Allen at #19, and Plano at #25.
Full Story
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