DFW leads nation in building new apartments

Tue, 01 Jul 2008 22:11 CDT

By ANDREA JARES

Apartment developers are surging ahead with new units in North Texas — the most new projects in years.

Developers started 6,165 units in the Dallas-Fort Worth area in the second quarter, according to figures released Tuesday from M/PF YieldStar. It was the country’s top metro area for development and the most new construction started since the early part of the decade, said Greg Willett, vice president of research.

The increase comes des- pite tightened commer- cial lending standards. De- velopers are likely attracted to the robust job market in Texas, which is among the country’s fastest-growing, Willett said.

North Texas has been moving toward a tightening of apartment demand for years. The area was on track to bring the supply and demand closer in balance, but that may be delayed, Willett said. As a result, renters may get a break on rent as those apartments come onto the market in 2009 or 2010. "Our outlook for D/FW had been relatively stable," Willett said. "Moving ahead, now we’re looking at a little bit of softening."

Where the construction is New construction is booming more than it has in years. Here’s where the new units can be found across the Metroplex.

Area Units planned West Plano/Frisco 2,804 Dallas core 2,270 Lewisville 1,955 North Fort Worth 1,778 Allen/McKinney 1,559 Carrollton/Farmers Branch/Addison 1,343 Source: M/PF YieldStar

Real estate transactions

Sun, 29 Jun 2008 21:10 CDT

Fort Worth

1. Warehouse lease

1901 Windsor Place

In Step Foodservice has leased 47,650 square feet of warehouse and distribution space.

Brokers: George Duncan and David Walters of the Staubach Co. represented the tenant. J. Searcy of Coldwell Banker Commercial Searcy Vasseur Group represented the landlord, Conti Partners.

Grand Prairie

2. Hotel opening

Interstate 30, Belt Line Road

Construction of a 101-room Holiday Inn Express Hotel and Suites is planned to start this fall. It is expected to open in late 2009. The hotel will have complimentary breakfast, wireless Internet and private voice mail.

Hurst

3. Restaurant lease

200 Grapevine Highway

Bosses Pizza leased 3,400 square feet at Suite 240 at Wellington Place. The company plans to open this summer.

Brokers: Bryan Dyer of the Woodmont Co. and Don Wass of Crest Commercial brokered the lease.

Mansfield

4. Office lease

1752 Broad Park Circle

Rabjohn Behavioral Institute is opening an 818-square-foot psychologist’s office at Broad Park Office Park.

Brokers: Bill Jordan of Moss Jordan represented the tenant. Mark Sullivan of Ritter & Associates represented the landlord, Lauralee Development.

North Richland Hills

Star-Telegram.com: Real Estate

DFW leads nation in building new apartments

Real estate transactions