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TCN Worldwide Market Minutes Podcast, Ep. 012 Grant Pruitt: Dallas-Fort Worth Office Market Outlook - "Don’t believe what they tell you, people are coming back to offices."
In this episode of the TCN Worldwide Market Minutes Podcast, we talk with Grant Pruitt, President & Co-Founder, Whitebox Real Estate in Dallas, TX about what he's seeing within the DFW office market and how it compares to other markets as people return to the office. In this episode, Grant discusses the DFW office market and why he's bullish on the office sector as we come out of the pandemic and in the years ahead.
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| CRE Industry News, Top Stories|
Demand For Office Space Up 118% Since January
Business Wire: Demand for office space continues with steady upward momentum nationally. Seasonal patterns may moderate demand growth in some markets, according to the May 2021 VTS Office Demand Index (VODI) monthly report.
Amazon’s Outsized Impact on Industrial
GlobeSt.com: Amazon is leading the competition for fulfillment centers and last-mile delivery locations, and the e-commerce behemoth is also pushing the new supply pipelines as developers scramble to complete large facilities.
‘Turning Point’ for Office in 2022: NAIOP
Commercial Property Executive: Best- and worst-case scenarios in NAIOP's latest demand forecast indicate a return to normal by the second half of 2022. Notably bruised by the pandemic, the office sector is on track to record positive net absorption in the fourth quarter of 2021, according to NAIOP’s latest Office Space Demand Forecast.
| TCN News, Deal Announcements & Member Highlights|
Bradford Allen/TCN Worldwide in Chicago Completes 10,500-Square-Foot Lease in Elmhurst, IL
Member Deal Announcement: Jeffrey A. Bernstein and Laurence B. Elbaum, Principals and Co-Founders of Bradford Allen, are pleased to announce that Managing Director Norm Murdoch completed a new 10,500-square-foot lease between Parkway Dental Services, LLC and the ownership of 501 West Lake. Parkway, a dental supplies and equipment provider, signed a seven-year lease for their first Illinois location.
Several Major National and Regional Retailers Coming to Susquehanna Union Green
Member Deal Announcement: Susquehanna Union Green, Central Pennsylvania's largest mixed-use project, is pleased to announce that it has signed leases and commenced construction to host several major regional and national retailers. Landmark Commercial Realty/TCN Worldwide was selected as the exclusive broker to market the commercial mixed-use development for the Vartan Group in 2018. Drew Bobincheck, CCIM, is serving as one of the listing agents for the retail and office space.
LevRose Commercial Real Estate/TCN Worldwide in Phoenix has Released the Top Notable Transactions for April of 2021
Member Deal Announcement: Congratulations to Zak Kottler, Joe Cosgrove, Hunter Chasse, Aaron Cook, Jon Rosenberg, Keri Davies, and Jason Reddington of LevRose/TCN Worldwide on the completion of this impressive list of transactions.
Norris & Stevens/TCN Worldwide in Portland Brokers $2.425M Office Sale in Beaverton, Oregon
Member Deal Announcement: 5075 SW Griffith, LLC recently completed the $2,425,000 purchase of Griffith Park Office Building, a multi-tenant office building located at 5075 SW Griffith Drive in Beaverton, Oregon. Todd VanDomelen, Duane Link, and Doug Carter with Portland-based Norris & Stevens, Inc. represented both parties in the transaction.