11/14/22 Dallas Mastermind Group Meeting Copy

Dallas November 2022 Key Take Aways!

Kimber Davison, Vice President & Managing Shareholder at Griffith Davison

• Kimber shared that Griffith Davison opened new offices in both Fort Worth and Austin and they hosted their first REAL Professionals meeting in Austin on September 14^th. She invited everyone to try and attend a future Austin meeting in 2023.
• Kimber shared that she currently has three new clients, all from California, and two of them are a solar company.
• The group agreed that Solar installation is becoming more popular in the DFW metroplex, due in part because of the Tax Incentives, Tax Credits, and Rebates in the State of Texas. The 26% federal solar tax credit is available for a purchased Texas home solar system installed by December 31, 2022.

David Ellis, Assistant Director at Allen EDC

• They are fortunate that they are funded by a 1/2% sales tax that generates approximately $11 million annually and that is used towards more economic development.
• They currently have 6-7 mixed-use developments planned and zoned at the 121 corridor.
• An entertainment concept called the “HUB” that opened last week as well other entertainment related uses going in that development. They are also in the process of opening a new Katy Ice House bar and restaurant, with construction beginning early next year.

Cheryl Murphy, a Broker with Nexa Mortgage, shared that on the commercial side of business, they are seeking partners that will team with Nexa primarily on a $1-2 billion deal, near Colorado.   Also, they are always looking to team with lenders and investors so hopes to eventually work with another meeting attendee on a future deal.

Nick Lee, Executive Vice President and Corporate Broker with NAI Robert Lynn, shared that 70% of his business is office tenants and 30% of his business are national industrial clients with 100-190 locations.  There is currently 50 million sq. ft. either under construction or being proposed right now of industrial new development in the region.

James Smith with Smith, Jackson, Boyer and Bovard is “sitting on pins and needles” waiting to hear which direction the House of Representatives votes go since last week’s election results are finalized:

• He’s concerned because long term capital gains were an original target
• Texas Legislature is currently in session and some good news is the Texas budget is running at an almost “embarrassing surplus”.

Aaron Hall & his Parther, Derick Murway, with Fitzwilliam Investment Group, are developers with various developments currently in progress involving multi-family, industrial, retail, etc. all in the DFW metroplex.

Aaron Jackson, retail Broker with EXP Commercial, shared he mainly handles sales and leasing from a landlords perspective whereas he tries to work on properties that impact the communities they serve. And on the sale side he mainly focuses on shopping centers that are 10-25,000 square feet.

Sue Turk, Vice President of Sales with Boston National Title of Texas, which is based out of Charlotte, North Carolina.  They are part of the Black Stone Equity portfolio of companies and offer round-the-clock remote closings through their own closing company.  They also offer a new concept called “Zone-Ability” in which she can share information with you that is not always readily handy and/or easy to find, such as location graphs, owner information, square footage, percentages retail/commercial/industrial in the area, local school information, etc. which includes a lot of information that is not found on the MLS.

Ari Reubin, CEO & Founder of Darwin’s Beagle, Inc. is an innovative strategy executive concentrating his skills in environmental, cyber security OT, A/I, workplace wellness sensors, analytics, & capital markets technologies. His Mission in Life is “to keep people safer”.  He focuses on ways to envision and implement software & hardware technologies to solve for targeted outcomes in innovation, product launch, customer satisfaction, revenue, and profitability for stakeholders at public, private, and institutional entities.

Stephen Scott, Founder of Equity Capital Person, Specializes in assisting developers/borrowers and raising equity capital. With these skills he continues to be extremely successful with investment banking, negotiating contracts / leases and an array of related legal documents, teaching real estate investment principles, selling, and financing income-producing commercial properties.

Kevin Shatley, Vice President of Economic Development, Dallas Regional Chamber, was the guest speaker and shared a Presentation, which included “Updates in the DFW Metroplex in Growth, Jobs, Corporate Locations and Outlook”:

• They just won an Award and are the National Chamber of the Year winner, out of 1,600 Chambers across the United States
• The DFW Metroplex is the 4^th largest in the United States, behind New York, Los Angeles and Chicago
• Dallas is the 3^rd largest city in the State of Texas
• DFW makes up approximately 2.5 million people
• According to current trends, it is possible that DFW will be larger than Chicago by 2030
• DFW led all metros for job growth in the decade, from 2010-2019.
• DFW was number one with 97,000 in population growth in 2021.
• DFW exceed the combined job gains of the next two large metros that gained the most jobs from Sept. 2019 through Sept. 2022
• DFW is a “headquarters magnet” with 200 Headquarters moving to DFW since 2010, including 6 Fortune 500 Companies:
  • AECOM
  • CBRE
  • Charles Schwab
  • Jacobs
  • McKesson
  • Caterpillar
• Ray Perryman, noted Texas Economist, expects growth in the Fort Worth metro to be in line with State of Texas Growth. He also expects growth in Dallas metro to exceed national growth rates.
• Overall, the Economic growth in the DFW metroplex is expected to be strong, according to DFW 5-year Economic Indicators:
  • Increase in population – 615,000
  • Increase in jobs – 439,000
  • Increase in Regional Output – $96,000,000,000
  • Increase in Retail Sales – $26,400,000,000