| As 2008 gets underway, there is good | | | | foot combined office and warehouse |
| news in the Dallas commercial real | | | | building. A new long-term agreement has |
| estate market. Major corporations are | | | | ensured their ongoing presence in |
| either relocating their operation | | | | Dallas. |
| centers to the Dallas area from other | | | | GIS will be adding 22,558 square feet of |
| parts of the nation, or are reconfirming | | | | office space to their already expansive |
| their success in Texas by renewing | | | | 24,875 square feet. GIS will be using |
| long-standing leases, choosing to remain | | | | their new office space to update their |
| in the area rather than relocate | | | | data area, including a new 24/7 data |
| elsewhere. | | | | center. |
| One major event that will catapult | | | | Diverse Industry in Texas |
| Dallas into the crème de la crème of | | | | Not only is Dallas one of the biggest |
| influential corporate design centers is | | | | employment centers in the United States, |
| the planned opening of the Dallas Center | | | | but it has often been referred to as |
| for Architecture. This 9,000 square foot | | | | "The Silicon Prairie" due to the large |
| structure will provide a combination of | | | | numbers of high tech corporations moving |
| office space, design area, conference | | | | into the area. This trend has continued |
| rooms, and a gallery. This innovative | | | | through 2007, and the demand for office |
| design concept will make it one of only | | | | space remains high. |
| a few such architectural design centers | | | | In addition to tech companies, Dallas is |
| in the United States. | | | | home to other industries such as |
| Industrial Development Continues to | | | | transportation, manufacturing, defense, |
| Thrive | | | | finance, construction, and real estate. |
| Major distribution centers continue to | | | | The city ranks sixth in the nation for |
| expand and develop in the Dallas region, | | | | the number of Fortune 500 companies |
| driven largely by the presence of the | | | | located in the region, including |
| Dallas/Fort Worth International Airport. | | | | financial giant ExxonMobil. Other |
| Early reports in 2008 show industrial | | | | companies of note who call Dallas home |
| development to be at its highest level | | | | include Texas Instruments, 7 Eleven, |
| in seven years, while the vacancy rate | | | | Blockbuster, and Southwest Airlines. |
| remains low. | | | | The availability of commercial property |
| Good news occurs on both sides of the | | | | is diverse, from manufacturing and |
| coin. With the area's 642 million square | | | | industrial space, to office and retail |
| feet of available industrial space, | | | | locations. Many investors consider the |
| businesses looking to relocate to Dallas | | | | Dallas market to be a sound financial |
| are still able to negotiate advantageous | | | | investment in terms of both commercial |
| leases. The multitude of choices | | | | and residential real estate. |
| available in industrial real estate | | | | In addition to the growth of the |
| combined with a high quality of living | | | | commercial real estate market, Dallas |
| standard in the Dallas area makes it a | | | | has the highest growing influx of |
| prime location for corporate | | | | trained professionals of any major |
| repositioning. | | | | metropolitan area in the nation, making |
| Long Term Leases are Inked for Major | | | | it a highly desirable area for |
| Companies | | | | corporations to find new talent. |
| General Information Services, Inc. (GIS) | | | | The overall outlook for the commercial |
| and Four Seasons, Inc. has already been | | | | segment of Dallas real estate continues |
| long-term lease holders in the Dallas | | | | to look bright well into 2008 and |
| area. Four Seasons occupies a 9.3 acre | | | | beyond. |
| distribution center and a 415,000 square | | | | |