Author Archives: Randall Turner

Friday, May 18, 2012 (Dallas Business Journal) – Candace Carlisle The Residences at Hotel Palomar, a nine-story luxury high-rise condominium, could sell to Dallas-based investor Westdale Capital. Westdale Capital has taken over the troubled lien after Addison-based Behringer Harvard   Short Term Opportunity Fund I LP defaulted on payments to fulfill the loan agreement on the property. The investor is [...]

Wednesday, May 16, 2012 (Dallas Business Journal) KPMG Centre in downtown Dallas has been posted for the June foreclosure auction. It’s the second month in a row that the 34-story, 828,000-square-foot office tower at 717 N. Harwood St. in downtown Dallas, has been posted for foreclosure. The office tower has $64 million in listed debt, [...]

DALLAS (Dallas Business Journal) By Candace Carlisle – Despite rumors of demolition, a long-empty Dallas office tower could be reincarnated as a hotel if Alterra International gets its way. The 18-story office tower at 211 N. Ervay St. has been vacant since 1995, but Turkish developer Mike Sarimsakci and his investors are purchasing the building, hoping to transform the [...]

Holliday Fenoflio Fowler The 17-story Advancial Tower on Woodall Rodgers Freeway is for sale. By STEVE BROWN Real Estate Editor stevebrown@dallasnews.com   An Uptown office tower with a front row view of the new Klyde Warren Park is up for grabs. The 17-story Advancial Tower at Woodall Rodgers Freeway and St. Paul Street has been listed for [...]

DALLAS (Dallas Morning News) – Apartment leasing in Dallas-Fort Worth dipped for the first time in over two years. Net leases fell by 270 during first quarter 2012, with most of the declines occurring in the northern suburbs. Greg Willett of apartment analyst MPF Research believes the slight dip is nothing to worry about. “I [...]

DALLAS (PM Realty Group) – The Dallas-Fort Worth office market’s recovery continued in first quarter 2012, but at a slower pace than during the second half of 2011, according to PM Realty Group (PMRG) in its latest market report. The office market posted a “respectable” 451,464 sf of positive direct net absorption during the first quarter, which [...]

By STEVE BROWN Real Estate Editor stevebrown@dallasnews.com   More than a dozen Dallas-Fort Worth area industrial buildings are included in a huge sale by an Australian investor. Sydney-based Dexus Property Group said this week that it is selling 65 U.S. properties it owns for $770 million to Blackstone Real Estate Partners of New York. The [...]

Steve Brown The parking lot just north of the American Airlines Center may soon close for construction. By STEVE BROWN Real Estate Editor stevebrown@dallasnews.com Hundreds of fans who attend games at American Airlines Center in Dallas may soon be parking in a new location. That’s because the operator of the Victory Park arena and developer Hillwood Investments [...]

Granite Properties The 3-building Cedar Maple Plaza was built in 1985. By STEVE BROWN Real Estate Editor stevebrown@dallasnews.com Published: 09 March 2012 03:59 PM A three-building office purchase has just added to Granite Properties’ holdings in Uptown Dallas. The Plano-based commercial real estate firm said Friday that it has acquired the Cedar Maple Plaza complex on Cedar [...]

Holliday Fenoglio Fowler Dallas’ 43-year-old Turtle Creek Village complex is for sale By STEVE BROWN Real Estate Editor stevebrown@dallasnews.com Investors who foreclosed on Dallas’ Turtle Creek Village have put the Oak Lawn office and retail project up for sale. Dallas-based Lone Star Funds took control of Turtle Creek Village in January after buying the distressed [...]

Good Fulton & Farrell Developers want to build nine stories of apartments on top of an existing Uptown garage. By STEVE BROWN Real Estate Editor stevebrown@dallasnews.com Developers want to build more than 150 apartments on top of an Uptown parking garage. Investor Spyglass Equities is seeking city approval to construct the nine-story apartment building on [...]

For a few days, all you heard was how the housing market seemed to be turning the corner. Of course, we’ve heard it all before. But this time the numbers all looked good. Existing-home sales were up nationwide and in North Texas in January. Even more important, pending home sales — purchase contracts that have [...]

Consumers aren’t ceding to debt collectors without a fight. The number of federal lawsuits filed against debt collectors in the Dallas-based Northern District of Texas has seen a steady increase since 2006 when 13 were filed. By 2009, that figure had risen to 49. They then jumped to 118 in 2010 and 134 last year. [...]

Steve Brown Bandera Ventures will move into a 5,000-square-foot office it’s building in Preston Center. By STEVE BROWN Real Estate Editor stevebrown@dallasnews.com Preston Center has long been one of Dallas’ hottest office markets. The North Dallas business district has some of the highest rents and lowest vacancy rates in the state. So it’s easy to understand why [...]

March is a busy month for DFW commercial real estate events. A seminar on client relationship strategies, an update on the North Texas water supply, and a half-day, jam-packed outlook conference hosted by ULI are just three of the learning and networking opportunities coming up this month. Here’s more information on upcoming activities. For the [...]

PLANO, Texas, Mar 06, 2012 (BUSINESS WIRE) — PFSweb, Inc. PFSW +2.26% , an international provider of end-to-end eCommerce solutions, today announced that it has entered into a lease for 78,000 square feet of space in the Renaissance Tower building in the downtown corridor of Dallas, Texas, which will be the new location of the Company’s North Texas [...]

Kye R. Lee/Staff Photographer The downtown skyline can be seen from the rooftop of the Canton Street Townhomes, a development by InTown Homes. Downtown is now home to almost 5,300 residences. 1 of 2 By STEVE BROWN Real Estate Editor stevebrown@dallasnews.com Kristin Hamlin bought her downtown Dallas townhouse before the model was complete. “My work requires me [...]

Good Fulton & Farrell Developers want to build nine stories of apartments on top of an existing Uptown garage. By STEVE BROWN Real Estate Editor stevebrown@dallasnews.com   Developers want to build more than 150 apartments on top of an Uptown parking garage. Investor Spyglass Equities is seeking city approval to construct the nine-story apartment building [...]

ELEVENTH DISTRICT–DALLAS The Eleventh District economy continued to grow at a moderate pace, and outlooks were more positive than in the last report. Manufacturers reported increased activity. Demand for business services was solid, and activity in transportation services rose modestly. Housing and commercial real estate markets continued to improve. Overall building activity remained subdued, with [...]

By: Steve Brown / Real Estate Editor stevebrown@dallasnews.com  The Dallas Regional Chamber is getting closer to making a decision about new digs. The chamber has been looking since last year at possible locations for its downtown Dallas headquarters. The business and economic development group currently occupies about 30,000 square feet of office space in the Plaza [...]

Transwestern A $9 million Frisco shooting range will also include a gun academy, gymnasium, business center. By STEVE BROWN Real Estate Editor stevebrown@dallasnews.com The Frisco Gun Club and Academy has purchased more than 2 acres east of the Dallas North Tollway for a $9 million indoor gun range. The site is at the northeast corner of All [...]

Ben Torres/Special Contributor The city-owned Omni Dallas Hotel reported room revenue of $1.4 million for December, and eight competing hotels in or near downtown saw sales increase for the same period. Trainer Glass completed the windows at the Omni Convention Center Hotel in Dallas. By KAREN ROBINSON-JACOBS Staff Writer krjacobs@dallasnews.com At least eight of the [...]

DMN files The 20-story Stemmons Place office project in Dallas and two more in Las Colinas are scheduled for foreclosure by GE Capital. By STEVE BROWN Real Estate Editor stevebrown@dallasnews.com   Three Dallas-area office buildings with almost $150 million in debt are scheduled to be sold by the lender. The commercial buildings threatened with forced [...]

David Woo/Staff photographer A 40-foot stainless steel sculpture is scheduled for completion next month in the West Village area of Uptown. It’s intended to be a beacon for the neighborhood and a reminder of previous plans for the area. By DAVID FLICK Staff Writer dflick@dallasnews.com   When the 40-foot sculpture Tower II is completed in Uptown next [...]

Steve Brown An Oak Lawn block that’s been empty for a quarter century is being planned for apartments and office construction. By STEVE BROWN Real Estate Editor stevebrown@dallasnews.com Published: 02 December 2011 11:16 AM Developers are eyeing an Oak Lawn block that has long been considered the best construction site onTurtle Creek. The 6-acre tract at Turtle Creek [...]

Institutional Realty Advisors The 285-unit Venue complex is in one of the Telecom Corridor’s largest employment centers. “I had three public real estate investment trusts fiercely bidding for it,” said Will Balthrope of Institutional Realty Advisors. By STEVE BROWN Real Estate Editor stevebrown@dallasnews.com A Telecom Corridor rental community that overlooks one of Richardson’s light-rail stations [...]

File 2010/Staff Photo Developer Odyssey Residential Holdings hopes to begin work in early 2012 on a 252-unit apartment project adjacent to the Inwood Road DART rail station. By STEVE BROWN Real Estate Editor stevebrown@dallasnews.com   Dallas’ already busy Maple Avenue development district is getting two more projects that will add to the construction boom. Developer [...]

Behringer Harvard The Fitzhugh Urban Flats apartments in East Dallas are included in a large apartment investment deal in the works. By STEVE BROWN Real Estate Editor stevebrown@dallasnews.com Addison-based real estate investor Behringer Harvard is working on a deal to sell a stake in 18 of its apartment properties — including a Dallas project. Behringer [...]

Steve Brown stevebrown@dallasnews.com   In 1972, an engineer-turned-real estate developer turned the Texas commercial property market on its ear. Houston developer Gerald Hines hired illustrious architect Philip Johnson to design a downtown office project. Most of Hines’ office buildings to date had been workaday projects that delivered good value to tenants for the money. But with Pennzoil [...]

The former First National Bank tower opened its doors in 1965. By STEVE BROWN Real Estate Editor stevebrown@dallasnews.com   Downtown Dallas’ former First National Bank tower, vacant for more than a year, has been sold to an investor who hopes to renovate the skyscraper. The 52-story office building at 1401 Elm St. had been up [...]

The 306-unit Residences at Wycliff apartments are planned at Congress and Wycliff avenues in Oak Lawn. By STEVE BROWN Real Estate Editor stevebrown@dallasnews.com Developers are eyeing an block in Oak Lawn for the next luxury apartment community. The builders are seeking city approval to replace a 46-year-old apartment complex at the Dallas North Tollway and Wycliff Avenue [...]

    By STEVE BROWN Real Estate Editor stevebrown@dallasnews.com Two investors have teamed up to buy downtown Dallas’ first major mixed-use development, the Plaza of the Americas.   M-M Properties and Dallas-based Invesco Real Estate bought the Pearl Street complex Thursday. The sale, estimated to total close to $100 million, is the largest such transaction [...]

Seems like a week doesn’t go by without word of a new North Texas apartment project in the works. Some weeks there are two or even three deals. While apartments are the current favorite flavor of real estate developers and investors, don’t expect the kind of overbuilding that usually results. That’s because tight financing is [...]

Dallas Business Journal by Candace Carlisle, Staff Writer Date: Thursday, February 23, 2012, 1:16pm CST Related: Banking & Financial Services, Commercial Real Estate, Dallas Enlarge Image David Merker and Carmaleta Whiteley Candace Carlisle Staff Writer - Dallas Business Journal Email ComInd REIT has selected Dallas for its new headquarters, and is looking for an office building to buy [...]

In 1972, an engineer-turned-real estate developer turned the Texas commercial property market on its ear. Houston developer Gerald Hines hired illustrious architect Philip Johnson to design a downtown office project. Most of Hines’ office buildings to date had been workaday projects that delivered good value to tenants for the money. But with Pennzoil Place in Houston, builder [...]

G.J. McCarthy/Staff Photographer Construction continues on the Museum Tower building (center) in downtown Dallas. The North Texas real estate market was a tale of extremes in 2011. While the housing market languished, commercial real estate rebounded sharply after three years of declines. Office and apartment leasing soared. Construction cranes came back. And there was a [...]

Grubb & Ellis Co., one of the country’s most recognizable CRE services brands which fell on hard financial times during the economic recession, has agreed to file for Chapter 11 bankruptcy protection and sell the company in a bankruptcy transaction to BGC Partners, owners of Newmark Knight Frank. In a statement, Santa Ana, CA-based Grubb [...]

News this week that development is about to restart in Dallas’ Victory Park project may have been a surprise to some folks. Most of the reports about the development have been bad of late. Just last week, lenders foreclosed on one of its biggest buildings. So truly, it is about time for Victory to catch [...]

Credit: The ParkAn artist’s rendering shows what Klyde Warren Park will look like when complete later this year. WFAA Posted on February 19, 2012 at 10:47 AM Updated yesterday at 11:52 AM DALLAS — The 5.2-acre park now being constructed over Woodall Rodgers Freeway in downtown Dallas has a new name: Klyde Warren Park. It is [...]

A Texas-based investment partnership has big plans for the 101-year-old building adjacent to Dallas’ City Hall. Alterra 500 South Ervay LLC, a limited liability company of Alterra International, led by Turkish investor Mike Sarimsakci, plans to spend $55 million turning the Butler Brothers Building into a multi-use property that would include a 220-room hotel, 250 [...]

Texas continues to post consistent gains across all major metros. Major Texas metros performed well again in July, with Dallas, Houston, Fort Worth and Austin topping the long-term growth charts. Houston was among the top performers on an annual basis, with payrolls up 2.6% over the past twelve months and up 1.6% over the past [...]

Home Prices Still Down 5.2 Percent Vs. July 2010 Homeprices in the U.S. increased for the fourth consecutive month, inching up 0.8 percent on a month-over-month basis. On a year-over-year basis, however, national home prices, including distressed sales, declined by 5.2 percent in July 2011 compared to July 2010. In June 2011, prices declined by [...]

Investors See More Opportunities in Distressed Investment Coming To Market Ahead of This Year’s Glut of Maturing CRE Debt As the “extend and pretend” period of the Great Recession wanes into a period of true loan modifications, lenders and note holders appear to be forcing more distressed loans into the marketplace. And in turn, institutional [...]

By STEVE BROWN Real Estate Editor stevebrown@dallasnews.com Published 08 August 2011 10:57 AM An Irving hotel firm is transforming a vacant downtown Dallas office building into an all-suite hotel. The former United Fidelity Life Insurance Building at 1025 Elm St. has been vacant for more than a decade. Earlier this year, Lowen Hospitality Management bought the property out [...]

By STEVE BROWN Real Estate Editor stevebrown@dallasnews.com Published 04 August 2011 10:25 PM   During the first half of 2011, almost a half-billion dollars in Dallas-Fort Worth area commercial properties were sold by lenders on the courthouse steps. The total sounds big, but the dollar volume and number of commercial property foreclosures in the area are down [...]

By DAVID FLICK Staff Writer dflick@dallasnews.com Published 30 July 2011 11:25 PM   In the teeth of the worst recession in eight decades, Dallas is undergoing a building boom. Not in real estate, heaven knows, or in construction of high-rise office buildings, but in an area in which the city has always been judged weak [...]

By STEVE BROWN Real Estate Editor stevebrown@dallasnews.com Published 05 May 2011 09:18 PM With the building downturn, the construction cranes have flown the coop from Dallas’ Uptown district. But don’t expect them to stay away for long. Developers are already working on a handful of projects, and more are in the wings. “I think the [...]

By KAREN Staff Writer krobinson@dallasnews.com Published 02 August 2011 04:47 PM A major real estate trust said Tuesday it has purchased the Fairmont Dallas for $69 million, marking the second acquisition of a historic Dallas hotel in two weeks. Inland American Lodging Group Inc., a Florida subsidiary of Illinois-based Inland American Real Estate Trust Inc., [...]

By STEVE BROWN Real Estate Editor stevebrown@dallasnews.com Published 19 April 2011 02:09 PM Ross Perot Jr.’s AllianceTexas project north of Fort Worth is already one of the country’s biggest developments. But the project is about to grow even larger with additional land acquisitions and development along Interstate 35W. “It’s hard to say for an 18,000-acre [...]

By MARIA HALKIAS Kroger started construction Wednesday on a 60,786-square-foot store that’s part of a new retail-residential development just north of downtown Dallas that will include 356 apartments. Kroger’s Fresh Fare store, which emphasizes fresh and prepared foods, will be completed next summer at North Haskell Avenue and Capitol Avenue in a development called Cityville Cityplace [...]