Dallas June 2023 Key Take Aways!
• From the real estate standpoint, the large tenant office buildings seem to be one of the main concerns and has really fallen off. There aren’t many large office deals being done. (James Smith – Smith, Jackson, Boyer & Bovard PLLC)
• Downtown continues to have issues getting people to move and live there, in part due to parking and transportation that seems nearly non-existent. (James Smith – Smith, Jackson, Boyer & Bovard, PLLC)
• People eat, live and work so a lot of the GenXr’s want to be in a very centralized place. Apartment living seems to be the current best option for many people. A recent statistic showed ½ of Americans have refinanced their homes so there won’t be a lot of inventory of residential/single-family houses available for a long time. (Ellie Fanning – Portfolio Resident Services)
• Been seeing more and more of “rehabbing buildings” instead of building from the bottom up, so the older buildings need to be brought up to code so a lot of people are turning to getting a “C-Pace Funding (Commercial Property Assessed Clean Energy), which means they borrow capital to pay for the upfront costs associated with energy efficiency or renewable energy improvements. Unlike other project financing, the borrowed capital is repaid over time via a voluntary tax assessment. (John Rhodes – Foresite Group)
• Many more employers are returning to the “old school” way of thinking and requesting staff work less at home and spend more days in the office. Many offices are rewarding their staff for keeping track of how many hours they are in the office as opposed to how many hours they work remotely. (Kimber Davison – Griffith Davison P.C.)
• They are currently building a space on the 12th floor of their building and are in discussions with the landlord about loosening up their current “No Pets on Premises Policy” because they have found many of their staff prefer to work from home because of their pets so if they can bring their pets to work (size permitting and keeping to certain rules) they feel it will make the decision to work in the office easier on their employees. (Kimber Davison – Griffith Davison P.C.)
• There seems to be more and more new grocery anchored centers in the metroplex so, as long as they continue to grow, more space will be developed which will bring in more people. (Walker Hairston – Falcon Realty Advisors)
• The REAL Professionals Network group has been a great way for him to connect with people for new deals and connections. This group has “been a valuable asset”. (Stephen Scott – The Finance Person)
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