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