News for Dallas, Texas | Dallas Morning News | Commercial Real Estate

11/21/2008

11/20/2008

Aloft Las Colinas hotel has minimalist appeal

MILTON HINNANT/DMN

An offshoot of luxury W Hotel, Aloft targets younger travelers with style and technology. Both are Starwood Hotels & Resorts brands.
Photos: Inside Aloft

Economic development group DowntownDallas to move to Chase Tower
The relocation to Ross Avenue is part of a major expansion for the organization, which promotes the central business district.

11/19/2008

Luxury fitness centers pumping up Dallas presence

The 24 Hour Fitness chain has 32 D-FW locations, including one at Mockingbird Lane and Greenville Avenue, plus four sites under construction. LA Fitness also is expanding, and Equinox and Sports Club/LA are building fitness centers.

JUAN GARCIA/DMN

The 24 Hour Fitness chain and LA Fitness are expanding locally, and Equinox and Sports Club/LA are building fitness centers.

Dozens of centers are opening across the Dallas area, with the growth led by luxury newcomers such as Equinox and the Sports Club/LA. In addition, existing clubs, such as 24 Hour Fitness and LA Fitness, are expanding.

11/18/2008

Dallas developer Koll plans Intellicenters across U.S.
Dallas-based Koll Development Co., one of the nation's largest commercial developers, plans to build more of its "Intellicenter" speculative office buildings here and in other U.S. cities in the next 18 to 24 months.

11/17/2008

Construction begins on long-vacant tract at Cole and Lemmon in Dallas

The planned Cityville at Katy Trail apartments at Lemmon and Cole.

Inland American Communities Group

The Cityville at Katy Trail apartments at Lemmon and Cole.

Building crews have begun excavation at the corner of Cole and Lemmon avenues for a five-story apartment and retail building. The project Inland American Communities Group is developing will have about 300 rental units.

11/13/2008

Goff Capital to redevelop Fort Worth office complex
A company founded by the former president of Crescent Real Estate Equities has announced plans to redevelop a Fort Worth office complex.

Jones Lang's new president of D-FW office is former Staubach officer
On the heels of its recent purchase of Staubach Co., Chicago-based commercial real estate service firm Jones Lang LaSalle said Thursday that it has selected Paul Whitman as president of its Dallas-Fort Worth office.

11/12/2008

Survey: Real estate execs less likely to pay premium for green office space
Of more than 400 real estate executives surveyed in September and October, 42 percent said they would pay more to lease green space, down from 77 percent last year. Tenants typically pay a 1 to 5 percent premium for environmentally sound office space.

11/10/2008

Financing woes halt construction on Uptown condo tower

Prescott Realty

The planned Stoneleigh condo tower in Uptown.

Developers of the partially built Heritage at the Stoneleigh Dallas condominium tower in Uptown are trying to arrange financing to complete the building.

Dallas may get 2nd Four Seasons hotel
An industry report issued Friday by Houston-based PKF Consulting listed a 250-room Four Seasons NorthPark to open at the northeast corner of the mall property by 2012.

Horizon Data Center Solutions adds space in Carrollton
Plano-based Horizon Data Center Solutions just added a second data center and plans to add more in the area and in other states in the next year in response to rising demand.

Jones Lang LaSalle expands services in Fort Worth
The company also said that it has won the leasing assignment of Carter Burgess Plaza, a 40-story, Class A office building in downtown Fort Worth.

11/07/2008

Implosion brings down Holiday Inn on Central
If you heard a loud boom in North Dallas or Lake Highlands on Sunday morning, it wasn't an earthquake. It was the Holiday Select In on Central imploding.

11/05/2008

Dallas-Fort Worth leads nation in apartment building

FILE/DMN

Overall, the apartment market in North Texas has less than a 7 percent vacancy rate

More than 20,000 apartments are currently under development in the D-FW area. But overall building is likely to slow because of crisis in debt and financial markets, apartment analysts meeting in Dallas Wednesday said.

11/06/2008

Law firm Scheef & Stone moving offices to downtown Dallas
Scheef & Stone LLP is moving its corporate headquarters from Sherry Lane near the North Dallas Tollway and Northwest Highway to the Lincoln Plaza tower on Akard Street, real estate broker CB Richard Ellis said Thursday.

Raising Cane's restaurant chain chooses Plano for corporate office
The Raising Cane's Chicken Fingers restaurant chain has settled on Legacy Business Park in Plano for its first local corporate office.

11/07/2008

Commercial transactions

11/05/2008

FelCor Lodging Trust to cut spending as travel slumps
Irving-based FelCor Lodging Trust Inc. on Wednesday said it will eliminate all nonessential spending through the rest of the year and will limit capital spending next year due to a decline in leisure and business travel.

11/04/2008

Ashford Hospitality Trust names interim CFO
The company named Mark Nunneley, its chief accounting officer, as interim chief financial officer due to the recent hospitalization of CFO David Kimichik.

Republic Property Group acquires Frisco's Phillips Creek Ranch
The residential development at FM 423 and Lebanon Road is planned to ultimately contain about 3,200 residential units.

10/30/2008

Dallas tenants finding their niche in Arts District, Victory Park

An artist's rendering shows the Arts District after the completion of Two Arts Plaza and cultural facilities that include the Winspear Opera House and Dallas Center for the Performing Arts.

Hillwood

An artist's rendering shows the Arts District after the completion of Two Arts Plaza and cultural facilities including the Winspear Opera House and Dallas Center for the Performing Arts.

One address is edgy, and the other is artsy. Victory woos tenants with high-energy sports events and trendy watering holes. In another corner of downtown, the Arts District is playing a different tune with world-class cultural venues.
Map: Your guide to Victory

10/31/2008

Construction begins on Frisco sports complex
The 145,000-square-foot Fieldhouse USA project will contain 12 sports courts, an indoor sports field and 13,200 square feet of retail space, a food court, fitness center, and corporate conference rooms.

Commercial transactions

10/30/2008

Houston developer plans high-rise condos in Preston Center

Randall Davis Co.

Randall Davis has teamed up with developer Hines to build the nine-story Terranova condominiums on Douglas Avenue. It would be the first residential high-rise built in Preston Center in more than a decade.

10/29/2008

Developers to unveil plans for huge project near North Central Expressway
Valencia Capital Management has scheduled a Nov. 6 briefing to show off its MidtownPark project, which is located along Manderville Lane just north of Presbyterian Hospital.

Economist: Expect more corporate moves to Dallas-Fort Worth as economy recovers
Commercial property executives can expect an increase in corporate transfers to North Texas, a top local economist says, but that probably won't happen until mid-2010 or later.

10/28/2008

Ashford Hospitality Trust sells $148.2M in assets
Proceeds from four properties used to pay off debt

10/27/2008

Dallas-Fort Worth's commercial property foreclosures jump but remain low
Dallas-Fort Worth commercial property foreclosures have jumped more than a third this year. But the numbers of office, retail, apartment and other industrial buildings foreclosed on this year are still very low compared to previous economic shakeouts.

Developers: Dallas' Museum Tower project still in the works despite economic downturn
Builders and investors in the deal say the 42-story luxury residential high-rise will be built, despite rumors the development has been tabled because of the financial market plunge.

10/23/2008

Cushman & Wakefield restructuring will include layoffs
Economic conditions having an adverse effect on the commercial real estate brokerage