Sep. 02, 2020 by Bianca R. Montes, Christine Perez & Quincy Preston, DFW Real Estate Review

The Crane Report: Summer 2020

COVID-19 has led to a lot of challenging questions and unknowns for decision-makers. Some developers are pausing, and some say they are moving forward, but it remains to be seen how many spec office projects may kick off right now, beyond Jerry Jones’ new Phase IV at The Star. The industrial sector, thought, considers promise with the continued growth of the E-commerce industry driving the market. An exception, Jacob Tindall, co-founding partner at 5G Studio Collaborative, adds that multifamily remains one of the stable sectors in the region thanks to continual population growth.

On-the-Ground Insights

“The biggest trend that I’m seeing in office is that developers are focusing on innovation in their buildings to make them relevant and attractive to the office tenant of the future. Great developers right now are really thinking through how their tenants are going to use their spaces. They are asking the question, “What would make me want to come to the office.”
Jessica Miller Essl, Co-Founder of M2G Ventures

“The greatest opportunities are in existing mixed-use developments like Cypress Waters, CityLine, and Legacy, or land near to those developments that have the infrastructure in place, such as hotels and retail where a tenant or a developer could provide products that have amenities nearby.”
Randy Cooper, Managing Director of Stream Realty Partners

“The BNSF intermodal at Alliance has driven a tremendous amount of development. Northeast Tarrant County also has one of the largest supplies of vacant space. The UP intermodel facility and the potential construction of an additional BNSF intermodal facility in south Dallas County will continue to make the I-20 and I-45 corridors attractive for developers and users.”
Jon Napper, Managing Partner at Courtland Development

“Luxury multifamily communities in Dallas’ urban center was trending before the pandemic and is only strengthening. With the resurgence of many suburban communities as people commute less and work from their suburban homes, mixed-use developments that were planned to start with hospitality and retail have reprioritized. [They] are now leading with multifamily design and construction.”
Jacob Tindall, Partner at 5G Studio Collaboration

Read the rest of the article below in the Spring-Summer edition of the DFW Real Estate Review.

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