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We're sending out a weekly collection of great articles and newsworthy content in the commercial real estate industry with a special-tilt towards businesses and tenants.
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Fitness Centers Lead the Way as the DFW Retail Market Stays Strong
The red-hot DFW retail market has been very strong for a number of years and looks like it won’t slow down any time soon. The market remained healthy in Q3 as fitness and entertainment retailers (such as Planet Fitness and Club 4 Fitness) absorbed a number of big-box vacancies, as net absorption totaled 951K SF of space for the area as a whole. DFW retail occupancy remains at 94.7%, which is unchanged from the previous quarter. Read the full story here.
Latest Development News
The Allen, a high-end mixed-use development planned for a 6-acre tract off Allen Parkway, will have its groundbreaking ceremony on Nov. 6. The first phase of the development will include the Allen's Lifestyle Pavilion portion, which will include space for retail, restaurants, and a fitness club.
In Dallas, high demand for quality office space has spurred a series of expensive building renovations in Downtown Dallas over the last several years. Since 2010, 432 DFW buildings totalling 40.2M SF, underwent renovations, with about a third of the activity occurring in Downtown Dallas. Most office development in DFW is centered in commercial clusters such as downtown, but some developers in the area are beginning to focus more of their attention on opportunity zones in traditionally underdeveloped districts.
Latest Leases Signed
American Cross-Dock & Storage, a warehousing and transloading firm, has leased more than 146,000 square feet of industrial space in the Houston suburb of Pasadena. In Fort Worth, tile and stone company Schluter-Systems will open a facility in AllianceTexas in 2020, while NCR Corp. recently signed a 52,551 SF lease at Tennyson Office Center in Plano.
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Why Hiring a Tenant Rep Matters
In an article from our blog, we speak with Ted Rohan, a Senior Associate with Avison Young. Learn about how hiring a tenant rep can help you during lease negotiations, especially in the high-demand Austin office market.