Given all the construction it shouldn’t be a surprise, but Dallas-Fort Worth is the top market in the country for both warehouse construction and leasing.

With the pandemic fueling consumer demand for products and services, industrial development has boomed this year in North Texas while many other real estate sectors have floundered.

So far this year, net warehouse space leasing in D-FW has surpassed 21 million square feet, according to new reports from commercial property firm Cushman & Wakefield.

That’s well ahead of the other leading U.S. industrial markets in Pennsylvania and Southern California.

North Texas has also delivered more new industrial space than any other U.S. metro area – almost 23 million square feet through the first nine months of 2020.

“These positive numbers are another sign of industrial resiliency and shows that there is still demand for space in the industrial market, even in uncertain times,” Tray Anderson,

Read More

Nasdaq Inc. is in talks with Texas Gov. Greg Abbott about potentially relocating the exchange’s electronic trading systems from New Jersey to Dallas-Fort Worth, according to two sources familiar with the discussions.

Other trading exchanges also could be involved in the discussions, both sources said.

Abbott confirmed the talks with Nasdaq in a tweet after The News published this story online. “They want to flee high taxes,” he wrote. “I let them know that we just passed a constitutional amendment banning an income tax in Texas.”

Nasdaq is planning a visit to Texas to meet with the governor, according to one of

Read More

Uber Technologies’ recent move to put more than 115,000 square feet of its Deep Ellum offices on the market is part of a trend.

The California-based ride-hailing company had planned to occupy the more than four floors of offices, but they are now sitting empty.

With the pandemic and recession, dozens of companies around North Texas are finding themselves awash with surplus office space.

And with almost 60% of local office employees still working at home, it’s easy to see that businesses have more office space than they need.

“We are just under 8 million square feet of active sublease office space in the D-FW markets,” said Andrew Matheny, a research manager for commercial real estate firm Transwestern. “It’s a historic level in terms of gross square footage.”

The amount of surplus sublease office on the market is significantly greater than the 5 million square feet or so under construction.

Read More

One of North Texas’ largest and most successful new business parks is up for grabs.

The five-building Gateway Logistics Center is on U.S. Highway 183 near the south end of DFW International Airport.

Built in 2019, the 86-acre industrial park is a project of Dallas’ Bandera Ventures in partnership with Boston-based Long Wharf Capital.

The office and warehouse complex has 1.4 million square feet of space in buildings ranging in size from 200,000 to 380,000 square feet.

Gateway Logistics Center is 96% leased, with major tenants including Samsung, HelloFresh, Legend Z Way, Furniture of America and Hussmann.

Dallas-based Heritage Auctions recently announced that it’s moving its headquarters to 160,000 square feet of space in the project.

Commercial property firm JLL is marketing the buildings for sale.

“Potential Investors have the unique opportunity to acquire D-FW’s premiere industrial park, with incredible highway visibility and access, located in D-FW’s most dynamic leasing

Read More

Stillwater Regional Airport won’t lose air service in October from American Airlines, the only major carrier at the Oklahoma airport.

The city of Stillwater, which is home to Oklahoma State University, announced Friday that American would keep service there through at least Nov. 3. American flies daily routes between Stillwater and DFW International Airport on its wholly owned regional subsidiary Envoy.

“We have shown American Airlines that we truly value their partnership and, by agreeing to work with us on our upcoming flight schedule, American Airlines has shown us that they value our partnership as well,” Stillwater Regional Airport Director Paul Priegel said in a statement.

An American Airlines plane coasts the runway at DFW International Airport on Sunday, July 26, 2020.

American has put on hold plans to drop service to four of the 15 cities it identified in August. At many of those airports, it is the only major commercial air carrier.

American had already announced that it would keep service to Roswell, N.M.,

Read More

This is how the COVID-19 recovery was supposed to play out.

When much of the economy shut down to slow the spread of the coronavirus, home sales fell sharply and many homebuilders furloughed workers. But as restrictions were lifted, some consumers got a big lift from a drop in interest rates. And small companies locked up forgivable loans through the government’s Paycheck Protection Program, which was designed to keep workers on the payroll.

“We were concerned about having to do layoffs,” said Justin Webb, owner of Altura Homes in Rockwall. “But we got the PPP loan and that bought us eight weeks. By then, sales started to take off.”

Altura, which has about 45 employees, didn’t lay off anyone and even hired a few workers, he said.

The company has posted record sales for the past three months, up about 25%, Webb said. Those results are not an outlier.

In

Read More

Monday-Friday 9am-3pm, Parking Lot at the Corner of St. Paul & Young Street, Dallas

DALLAS, Aug. 19, 2020 /PRNewswire/ — With School starting this week, Four Dallas small business owners are encouraging the public to get tested and making it possible so that more people can get back to work. Pandemic Responses Organization, or PRO is set up to perform free COVID testing Monday-Friday 9am to 3pm (1801 Young Street, Dallas, Texas TX 75201) with no out of pocket costs to those getting tested with insurance. This will soon include people without insurance or doctor’s notes and residents outside of the county.

Testing is simple, FREE and immediately available for the general public. A few things that you’ll need to bring along: proof of health insurance (special program is available for those without insurance), and a valid ID. Both the Rapid COVID-19 Antibodies and PCR Molecular Tests are

Read More