CRE Briefs: DFW Industrial Market Soars in Second Quarter

In the second quarter of the year, over 122.6 million square feet of industrial products were leased nationwide, with Dallas-Fort Worth continuing to experience unprecedented growth, according to JLL’s latest Industrial Outlook Report.

Some key local findings highlighted in the report include:

  • Realized demand this quarter with 9.1 million square feet of absorption and 16.6 million square feet in leases signed shows the continued strength of the current market cycle
  • The 32 million square feet of under construction represents a new quarterly activity record, with 45.7 percent of build-to-suit projects in the traditionally speculative South Dallas submarket
  • Market-wide asking prices have increased 20 percent since the first quarter of 2018, with less than 15 percent delivered of the 93.9 million square feet available as of now.

Nomad Suites, a new coworking space in the Harwood District, currently offers four rental options.

HARWOOD INTERNATIONAL COMES IN FLEXIBLE WORK SPACES

As flexible office space grows in popularity, Harwood International has introduced its own version of coworking in the 19-city block of Harwood District.

Ready-to-move suite at # 7 Harwood. Photo by Shoot2Sell.

“As companies and their teams return to the office, Harwood has seen an increasing demand for teams looking for more flexible terms and we are uniquely positioned to respond to growing businesses,” said Hannah Mesh, leasing manager at Harwood International. “If a company only needs a couple of desks, we have a place for them. But if they plan to expand in the next two years, we can find a solution either in an existing building or in a building to be developed soon. We offer several rental options because we know that no two companies are the same, but the desire for flexibility is universal. “

The new coworking space Nomad Suites currently offers four rental options. Hot desks provide convenience for individuals looking for work a few days a week. Dedicated desks offer a reserved ward and desk area. For teams looking for a more personal atmosphere, Private Offices and Enterprise Suites are designed to meet these requirements.

The $ 4,000 Scovell Scholarships were awarded to 15 North Texas students during a special reception at the Hyatt Regency Dallas earlier this summer.

Scovell Scholarship Foundation DISTRIBUTES $ 60,000 IN SCHOLARSHIP

In view of the economic uncertainty that is affecting the country, it is more important than ever to support students. According to a 2021 Junior Achievement USA and Citizens study, last college semester saw a Record decline upon enrollment, mostly for financial reasons.

The Scovell Scholarship Foundation’s 2021 Scholarship honored recipients from across the DFW – all 15 of them received $ 4,000 for a total of $ 60,000.

The scholarships were remembered Field Scovell, also known as “Mr. Cotton bowl “, and his wife, Mary, nearly 50, who were both passionate about young people and education.

“We are honored to honor these outstanding young leaders who have excelled in the past year in the face of extraordinary challenges,” said Scott Lavender, President of the Scovell Scholarship Foundation. “Your persistence has been inspiring and the flexibility shown will certainly serve you well in your educational activities and beyond.”

Centurion American announces massive shared apartment

The city of Celina was recently recognized as one of the fastest growing areas in North Texas and across the country. The Centurion American Development Group, led by Mehrdad Moayedi, announced their biggest development in the DFW runaway city.

The Farmers Branch-based company will break ground on Legacy Hills later this year. The mixed-use project will be located near the intersection of Legacy Drive and Celina Parkway.

The 3,200 acre development will include a wide range of residential and commercial space, including 7,000 single-family homes, 4,100 apartment buildings, 100 acres of commercial development, a 27-acre sports park, and more.

Rex Glendenning, CEO of REX Real Estate, brokered the acquisition for Centurion American and was an integral part of the process.

The Hillwood Communities team celebrates a huge victory at the McSAM Awards.

Hillwood Communities are taking home 10 McSAM Awards for the second year in a row

Hillwood Communities, the award-winning master plan community developer based in Dallas, received 10 McSAM Awards during a ceremony hosted by the Dallas Builders Association.

Among the list of awards received are several awards for the development of Hillwood Communities Pecan Square in Northlake, Texas, including Master-Planned Community of the Year, People’s Choice Community of the Year, Best Welcome Center, Best Community Amenity, and Lifestyle Program of the year. It is also the third year in a row that Hillwood Communities has received the Lifestyle Director of the Year award.

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