Bryan Karlan-MBA, Broker
Bryan Karlan

Bryan Karlan-MBA, Broker
Your North Texas Real Estate Connection

Recent Posts

CRE Opinion: How DFW Office Space Looks After a Record 2017

The end of 2017 wrapped up with a bang. Due in no small part to Toyota and JPMorgan Chase occupying more than 3 million square feet of build-to-suit projects in Plano’s Legacy, Dallas-Fort Worth ended the year at 5.2 million square feet of positive absorption—the market’s highest annual number since the recession. More importantly, the end of 2017 saw our 23rd straight quarter of positive absorption, a streak that began in the second quarter of 2012.

As we outlined in the overview last quarter, the health of the current market is different than past cycles. Still, as one might expect, we are often directly asked by our clients and other investors, “How much gas does this cycle have left in it?” Or more indirectly: “We will likely pass on that deal; we just don’t know how much upside there is given where we think we might be in the current run.” Yet, the industry is still optimistic about where we are today, and what the next few years look like.

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New apartment tower will be Frisco’s tallest building

onstruction has started on a luxury apartment tower that will be the tallest building in Frisco.

Atlanta developer Novare Group bought a site from the developers of the Frisco Station project for the 25-story residential rental building along the Dallas North Tollway.

The tower will have 332 rental units and will be just north of the Dallas Cowboys’ new headquarters and practice field.

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Texas added more people than any other state in past year

Texas added more people than any other state from 2016 to 2017, according to national and state population data released last week by the U.S. Census Bureau.

Between July 1, 2016 and July 1, 2017, the Texas population increased by nearly 400,000 people, No. 1 nationwide. The Lone Star State’s population was about 28.3 million at that time.

That 1.4 percent growth rate was the seventh-fastest in the U.S. in terms of percentage growth.

The New Gold Standard: 10 U.S. Housing Markets That Will Rule 2018

2. Dallas, TX

Median home price: $339,300
Predicted sales growth: 6%
Predicted price growth: 5.6%

This oil town is pumping, thanks to a steady flow of companies relocating, expanding, or opening up in the region. Those firms are attracted to the low taxes and cost of living. And that’s brought busloads and planes filled with new residents searching for For Sale signs.

For example, Toyota recently moved its North American headquarters to nearby Plano—and asked about 4,000 of its California, Kentucky, and New York employees to come along for the ride. Those transplants and their families all need roofs over their heads.

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Prosper council passes resolution on future of US 380

By unanimous vote at a recent Prosper Town Council meeting in which all council members were present, the Town expressed strong support for the eventual conversion of US 380 into a limited access roadway.

The council issued a resolution to that effect, citing the need to plan effectively for the expected increase in the general area’s population and the accompanying rise in traffic.

A limited access roadway (LAR) is often referred to as a freeway with main lanes, frontage roads, entrance and exit ramps, and grade-separated interchanges. Separately, the

Council also emphasized their support of a US 380 bypass that terminates east of the intersection with Custer Road.

“It’s clear to anyone who looks at the trends and models that have been developed,” says Harlan Jefferson, Prosper Town Manager. “In its present form, US 380 will not meet the needs of the area. Converting it to a limited access roadway seems to be the only way that it can accommodate the demands that will be placed on it.”

Recognizing the critically important necessity of efficient movement of traffic, the Collin County Commissioners Court passed a resolution prioritizing US 380 for conversion to a limited access roadway. Over half of the town of Prosper is in Collin County.

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