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Pandemic Is No Match For DFW's Booming Industrial Real Estate Market

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July 10, 2020 Kerri Panchuk, Bisnow Dallas-Fort Worth

The coronavirus pandemic and civil unrest across the U.S. could not derail Dallas-Fort Worth's booming industrial sector in the first half of 2020.

Despite analysts expecting a decline in overall CRE demand and construction, the DFW industrial market absorbed 2M SF in the second quarter, bringing total year-to-date absorption to 8.2M SF. That is down slightly from 8.7M SF of absorption for the same time period last year. 

The DFW vacancy rate increased 20 basis points in the second quarter to 5.9% as space availability edged up to 7.6%. Yet, demand overall remains high. Of the 23.2M SF in DFW's industrial construction pipeline, about 19.2% was already pre-leased by the end of the second quarter, according to CBRE. New projects keep getting started, such as Thursday's announcement that Crow Holdings, Clarion Partners and Rob Riner Cos. are starting a 556-acre industrial park in South Fort Worth.

CBRE tracked 71 new lease deals above the 100K SF threshold in the first half of 2020.

​Lease transactions tied to approximately 5M SF of industrial space were finalized in the second quarter alone. Consistent demand for consumer goods, e-commerce and third-party logistics space inspired most of the searches for new space. 

Read more at: https://www.bisnow.com/dallas-ft-worth/news/commercial-real-estate/pandemic-is-no-match-for-dfws-booming-industrial-real-estate-market-105155?utm_source=outbound_pub_170&utm_campaign=outbound_issue_40210&utm_content=outbound_link_1&utm_medium=email?utm_source=CopyShare&utm_medium=Browser

Wingstop Opens First U.S. Ghost Kitchen In Dallas

July 10, 2020 Kerri Panchuk, Bisnow Dallas-Fort Worth

Restaurant chain Wingstop is spreading its wings beyond the traditional restaurant dine-in experience with the opening of its first U.S. ghost kitchen.

The 400 SF facility in Dallas serves as the chain's hub for the preparation and delivery of to-go orders. The chain has one other ghost kitchen, a UK location it opened in Q4 2019.

Wingstop is gearing up to go 100% digital in all of its transactions in the wake of the coronavirus shutdown, which caused the restaurant brand to close all of its locations and focus solely on delivery services for a period of time. Digital transactions can include delivery or online order and pickup.

Deliveries have become a hot commodity for Wingstop, with the brand noticing a 33.4% increase in same-store sales during April as digital sales rose 65%. Delivery services accounted for about 30% of all those sales, the chain said.  

​"We have a goal to digitize 100% of transactions as we drive to become a top 10 global restaurant brand and we believe ghost kitchens are a great step for the brand as delivery and digital sales continue to increase,” Wingstop Chairman and CEO Charlie Morrison said in a statement. “The team leveraged their entrepreneurial spirit to move quickly and launch Wingstop’s first domestic ghost kitchen.”

Read more at: https://www.bisnow.com/dallas-ft-worth/news/retail/wingstop-opens-first-us-ghost-kitchen-105158?utm_source=outbound_pub_170&utm_campaign=outbound_issue_40210&utm_content=outbound_link_2&utm_medium=email?utm_source=CopyShare&utm_medium=Browser
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In the News….

Co-working firm almost doubles its Galleria-area office
Venture X opened the Far North Dallas location last year.
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By Steve Brown 4:37 PM on Dec 4, 2019
CBRE’s Dan Shoevlin, Claire Galpern, Jackie Marshall and Jackie Smith negotiated the new lease with Tarisa Casper Tibbit and Rosanna Hudson of NuStar Real Estate.
A coworking firm is almost doubling its Dallas location near the Galleria.

Venture X opened its shared-office center in early 2018 in the Village on the Green mixed-use development at Alpha and Noel roads north of LBJ Freeway.

Now the coworking firm is expanding its original North Texas location with an additional 10,000 square feet of space…..click here to read more...
Contact Information:

ROSANNA HUDSON
rosanna@nhres.net
817-881-4886

TARISA CASPER TIBBIT
tarisa@nhres.net
214-288-1690
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JENNIFER BUTLER
jennifer@nhres.net
972-824-1963
​