Vance C. Miller’s death this month after a short illness was a profound event in my personal lifecycle, along with being a historical moment for Texas’ commercial real estate community. Vance and I shared 40 years of friendship, both personal and professional, and shared those moments mostly during our obligatory meetings every Tuesday evening at the Prestonwood Country Club: 2,080 meetings!
Real Points
Daily Reports on Commercial Real Estate
Articles by Sam Kartalis
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RetailFor someone like me, who has spent most of his commercial real estate career leasing, selling, and developing retail projects, my slant on retail today may be considered heresy. However, in discussions with my male friends who, like me, start hyperventilating when they get near a mall or are asked to accompany the opposite sex on a shopping tour, we now have an option to stay at home and achieve the same results.
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Banks are lending aggressively for good deals, and a lot of money for equity is available on the sidelines. Take advantage of it while the rates are at historic lows.
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This has been a great start to a new year. How do I know 2012 will be an improvement over the last three years? I did an in-depth analysis of the market by counting the homes available for sale in my neighborhood.
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RetailIn talking with my peers, it would appear that business is starting to pick up in some areas, and the mood has definitely become more positive.
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ResidentialEveryone is talking about a “double-dip” recession, but I’d like to think that feeling runs counter to what’s happening in commercial real estate. I’ve witnessed some good-sized land sales recently, along with a growing group of income properties closing, and I sense a trending upward.
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Acquaintances who aren’t in our business always seem to be interested in how the commercial real estate sector is doing. When you think of it, it’s an industry that impacts everyone. Here’s what I’ve been telling them lately.
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LandHigher priced homes are selling, many without financing, and more foreclosures are being absorbed. In order to keep up with the growth in Texas, we once again will begin to see the need for new single family home developments.
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LandHomebuilders are out looking for sites, especially any “infill” tracts in the northern suburbs that did not get developed in the last cycle, after the market collapsed. Not only have prices come down, but many parcels that don’t have a prayer of being developed as commercial sites are being rezoned for single family.
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Deals
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- UPS Supply Chain Solutions Inc. has leased 33,228 square feet of industrial space at Freeport North Industrial in Coppell. More »
- DJB Investments has acquired 21,500 square feet of industrial space at 7231 Baker Blvd. in Richland Hills. More »
- Information Processing Corporation has leased 6,207 square feet of office space at 13747 Montfort Dr. in Dallas. More »
- Grillmasters Meat Co. LLC has leased 4,714 square feet of industrial space at 10430 Shady Trail in Dallas. More »
- Heineken USA Inc. has leased 4,186 square feet of office space at 6500 N. Beltline Road in Irving. More »
