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January 4, 2010 
 
 
DEMAND UP
FOR DATA CENTERS

How did you spend your holidays? We’d love to run a few pictures of local real estate-types in exotic locales. You know, like Tulsa. Send photos of your vacations, staycations, and other fun activities (with a description) for inclusion in Bisnow!

 
One carryover trend from ’09: plentiful space for any kind of business. Eg, JLL's Mission Critical Solutions, which mostly handles site selection transactions, is leasing 477k SF 2323 Bryan St downtown on behalf of Digital Realty Trust, a wholesale provider of data centers.
 
2323 Bryan St

JLL’s Brian Oley tells us demand for these centers is increasing, while supply is a little shy to adjust because financing is hard thanks to dot bomb days. JLL's Mission Critical Systems (based in Dallas, with 45 group members globally) has executed about 600 megawatts worth of transactions in data centers. (We’re not good with conversions, so let’s just say that’s 8 tablespoons.) Because of the lack of supply potential, firms needing space are turning to co-location and paying a premium for it. Brian dubs this a "band-aid" and notes that even the supply of solid co-location space is scarce, in some cases leased before it’s even built.

MCS reps clients like Microsoft and Bank of America and is also listing this space, for the former Yahoo! DC 002 at 2914 Taylor St in Deep Ellum. Brian says Tier1 Research shows the global supply for data centers increased 6% in the past year, failing to keep pace with the 14% increase in demand. Most research publications following the industry show that gap continuing to widen in the next five years.

Brian Oley, Jan Lighty, and Josh Foxwell
Bisnow caught up with Brian, Jan Lighty, and Josh Foxwell at the JLL Dallas office. Brian (with help from his wife) has a baby boy due Feb. 1. Already named Jude, it’s a hat tip to St. Jude Children’s Research Hospital. Brian and his wife serve on the hospital's Next Generation Committee and co-founded the Dallas Chapter of the Friends of St. Jude Young Professionals Group. On Feb. 18, look for a fundraiser photography art show in a vacant retail space downtown across the street from Neiman Marcus.

ROCKIN' UPTOWN
 
Blake Shipp and Jonathan Tobolowsky

This isn’t a new office décor trend. Lining Blake Shipp’s office at The Weitzman Group are his listings across the Metroplex. The retail-centric company added Jonathan Tobolowsky, left, in late November after five years with Colliers International. As an assistant VP at Weitzman, Jonathan partners with Mark Morocco. At Colliers, Jonathan worked on TCBY and Dickeys projects on a national basis and now focuses on project leasing with emphasis on the Uptown market, with restaurant and tenant retail rep across the Metroplex.

Away from the office, Jonathan is a partner in the swanky Aura Lounge in Uptown; later this month, he plans to open a high-end urban taco joint called the Rock’N Taco next to Aura. Working on the ownership end helps him appreciate his clients, he says: “I get what keeps them up at night.” Aside from looking for a nice Jewish girl, he also volunteers for the Chamber of Commerce, NTCAR and serves as a Special Olympics basketball coach. Now, if that doesn’t melt a gal’s heart . . .


Upcoming Events

 

AIA/TEXO Forum - Jan. 8 - 2010 Construction Economic Outlook breakfast program. Info

2010 Tarrant County Commercial Real Estate Forecast - Jan. 13 - $75 per person in advance and $85 at the door. Info

 
Send story ideas to Tonie Auer, tonie@bisnow.com
 
 
 
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