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