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Extra Good News in DFW!

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The growth in DFW continues to amaze me. New businesses are popping up and investments in the area are really going to be a boon for our economy. Here are just a few new stories that will be a huge blessing to the folks living in the Metroplex.

eSports Facility coming to Frisco. Dallas Cowboys owner Jerry Jones has teamed with Fort Worth-based real estate investor John Goff to get into the $700 million global eSports industry.

Esports5Jones & Goff acquired a majority of CompLexity Gaming, an eSports organization that has been based in Houston since 2007.  The CompLexity Gaming organization, its management and its Counter-Strike: Global Offensive and DoTA 2 teams will relocate to the DFW area and will have offices at The Star in Frisco.  The group intends to build an eSports facility at The Star, which is the current office location of the Dallas Cowboys, in the future.

The Cowboys will also participate in the Madden NFL Club Championship events in the coming months, which will be the first time all teams from a professional sports league take part in an eSports event. Other NFL owners such as Robert Kraft and Stan Kroenke have purchased slots in the Overwatch League, but the Jones family joins a short list of NFL owners to invest or acquire an existing team in the space.

Forbes recently estimated there are about 148 million eSports players worldwide.

Logistics1International Logistics Center breaks ground on a new industrial park on the south side of DFW International Airport. Located near the intersection of State Highway 360 and U.S. Highway 183, the 40-acre business park will include 3 buildings totaling more than 640,000 square feet of warehouse space. The development can accommodate tenant sizes of 20,000 to 320,000 square feet.

North Texas has added millions of square feet of new distribution and e-commerce space to the region in recent years. In the first quarter of 2017, North Texas developers leased nearly 6.5 million square feet of space — ranking the region as the No. 2 industrial market in the United States.  E-commerce accounts for about 12% percent of industrial leasing activity nationwide, and an additional estimated 30% of indirect leasing through closely tied logistics, distribution and support businesses.

Pecan2Pecan Square Development moves forward in Northlake. Hillwood officials announced their purchase of 1,157 acres near the southwest corner of I35W and FM 407 in Northlake, about 6 miles north of Texas Motor Speedway.  This is the beginning of a $1.5 billion development that will be known as Pecan Square.

The residential community will eventually include 3,000 newly built homes, with prices expected to range from $270,000 to $500,000 or more.  A mix of commercial retail, educational and residential uses will be featured in Pecan Square, which gets its name from the 200 pecan trees on the property that will be preserved. The initial phase will include 609 single-family homes, and homes from 8 builders should be on the market by summer 2019.  The developer donated land for an elementary school and sold Northwest ISD the land for a middle school, high school and football stadium so that families will be able to attend K – 12 within Pecan Square.  They estimate that the full buildout of Pecan Square will take 10 to 12 years.

Nissan1Nissan partners with Sundance Square. The one acre Sundance Square Plaza in downtown Fort Worth, which includes a stage and a pavilion, has become a gathering place with regularly scheduled concerts and events.   To help pay for its free programs — and to bring in even more events and more widely recognized acts — Sundance Square has signed a one-year sponsorship deal with Nissan USA that lets the automaker display its vehicles, put up signage and be included in advertising for the plaza.   Nissan states that the sponsorship was an obvious decision for them since Texas is home to 70+ Nissan dealerships and 7,000+ Nissan employees.

Rangers1Arlington Breaks Ground on mega-entertainment complex. Arlington’s new $1.1 billion ballpark is officially under construction! The new home of the Texas Rangers will feature 41,000 seats and a retractable roof. However, to be ready for the 2020 season, an estimated 97,000 truckloads of dirt must first be hauled away!

Additionally, ground has been broken on the new $150 million Live! by Loews-Arlington hotel. It will be built adjacent to the Texas Live! entertainment complex and near the Rangers new ballpark.  The resort hotel, the first Loews Property developed in Texas in 30 years, is scheduled to welcome its first guests in 2019.  The 14-story, 302-room hotel will include an infinity-edge pool, and an event lawn for special events. There will also be a covered outdoor bar called Tower Terrace that will have views of the nearby stadiums and Arlington’s entertainment district.

Arlington Mayor Jeff Williams called Texas Live! the largest entertainment complex outside of Las Vegas.  Alex Tisch, executive vice president of Loews Corporation, said it would be “the biggest destination outside of Orlando.”

These are exciting times in DFW! Call me today at 214-769-2947 if you would like to invest in real estate and take advantage of the future growth of the Metroplex.

Beth Brake: Owner/Team Lead

Performance Driven Excellence

 

 

Information provided by Keller Williams Dallas Metro North.

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