Speculating Spec Building
The next wave of industrial spec buildings likely won't be the 1M SF ones that were the norm in recent years, according to CBRE vice chairman Jack Fraker, who headlined our Bisnow DFW Industrial Real Estate Summit on Thursday. Our event was so jam-packed with news that we needed a second day to tell you about it.
Jack (second from left, with Hillwood Investment Properties VP TobyRoger, Majestic Realty development director Al Sorrels, Trammell Crow managing director Scott Krikorian, IDI regional development officer Doug Johnson, Duke Realty regional EVP Jeff Turner, and Holmes firm principal Ron Holmes) says instead of the mammoth warehouses, we'll probably see 100k to 250k SF infill buildings in submarkets to meet the needs of smaller tenants, which make up a steady segment of the industry and have a greater upsize potential, he says.
Eventually, this crowded lobby emptied into the ballroom to hear the panelists. Jeff says rail and intermodal facilities may become even more important influences on industrial facilities in coming years. Truck drivers are getting harder to come by, he says, and rail will become an even more crucial component to the industrial equation. Dallas will benefit greatly because of the multiple major hubs here. Toby says Norfolk Southern bought 800 acres and built an intermodal hub in Memphis during the downturn and BNSF has expanded its intermodal facilities at AllianceTexas, too. The price of diesel will also continue to be a big concern, he says.
Fabulous two-time event sponsor Ameritex?s Eve Travelstead with another great sponsor TREC volunteers Brian Blackwell of Up N In Investments and Chris Boyd of San Jacinto Partners. The TREC folks tell us the 23rd annual FightNight is coming up on May 12. The black-tie fundraiser includes professional boxing, casino gaming, and the opportunity to hang out with the top decision-makers in real estate and politics. Eve tells us her total security solutions company has 24-hour dispatch and supervision and provides both armed and unarmed security officers for a variety of projects including construction sites and manufacturing facilities.
HSM?s Dan Spika, center, with Weber Commercial's Todd Weberand Servant Energy Partners' Ruben Duron, who recently negotiated the sale of a 10k SF Class-B building at 930 W Main St in Lewisville for former owner BPI Building Service. The property was sold to a local medical user, which was represented by Falcon Realty Advisors' Shelley Taylor.
We snapped another illustrious event sponsor Jones Commercial Interiors? Dallas Snow with Real Estate Tax Consultants? Audrey Sreshta. JCI's Andy Jones tells us the firm has familiarity with industrial products and knows the lingo. Whether it's a pent leveler or ESFR (that stands for early suppression fast response . . . or were you still trying to guess?), they know how to meet city regulationsand help developers and brokers make deals. JCI's specialty iscustom design of tenant spaces including office, industrial, and retail. Andy's been a professional space planner since 1986, designing more than 10M SF of office space for clients ranging from 800 to 300k SF. JCI has 20 full-time staff members with extensive experience in the space planning industry.
Sealy & Co's Todd Marchesani, center with RMB Investments?Bryan Lurie and Bradford?s Chris Stout, is part of the NTCAR Young Professionals Forum, which promotes the involvement of young professionals in CRE through many avenues, including networking events and civic involvement. NTCAR?s Hall of Fameevent is coming up May 5, too.
Incredible second-time event sponsor Atrium?s Brenda Hesse andDawn Curtis watch as Crystal Stone networks with Cole & Associates? Sandy Stephens. Brenda (who readers have told us is a dead ringer for Jennifer Love Hewitt) tells us that Atrium has been asmall business office incubator for more than 20 years offering 525 offices within seven locations across the Metroplex. Her claim to fame: Atrium provides really excellent customer service and officing as it should be.
Gearing up for the busy season, the incredible sponsors from Alliance Tax Advisors paused just long enough for us to snap a photo of Mark Wood, Jennifer Keierleber, Mike Fritz, Krist Lazo, and Curtis Yates. HQ-ed in Dallas, ATA has offices in Atlanta, Denver, and Lubbock repping more than 300 clients with properties across the US, and providing services for more than $18B in assets in 39 states. It's this national reach, Mike tells us, that gives ATA the experience to work with different types of commercial assets in various jurisdictions to deliver significant tax savings.