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Commercial Real Estate Experts
FALL 2012
Making The News
MICHELLE HUDSON, HUDSON PETERS COMMERCIAL,
WAS A PANELIST FOR THE “BREAKFAST FOR
COMMERCIAL REAL ESTATE CHAMPIONS” HOSTED
BY THE DALLAS MORNING NEWS.
DFW MARKET
positions. All this activity bodes well for the
commercial real estate industry. Mid-year 2010 was
the beginning of the recovery, and overall the
UPDATE 2012 commercial real estate market is back to levels of
2008 in terms of occupancy. Rates are moving up
The US Federal Reserve/Dallas District gave more in most product types. Because of the restrain
encouraging news about the North Texas economy on nancing by banks, new construction is lagging,
in their recent report. Overall the economy is creating low supply for the demand. Rental rates for
growing at a moderate pace. Manufacturing activity class A o ce are higher in the “hot” markets than
is expanding, business services are solid and ever seen in the North Texas area. With increases in
transportation services activity increased. With construction, the tenant improvement allowances
improvements in these segments, consumers have will be a point of negotiation. The higher
more con dence which increased retail sales and construction costs will push rates in the second
home sales. Prices remain steady, although generation properties, as well. Land sales volume is
construction had a slight increase and some service rising and investment sales were up 13% in the third
providers are increasing their billing rates. The quarter over rst quarter 2012. Not all properties are
housing market reports sales of new and existing created equal, however; poorly located, maintained
homes are continually improving and inventory and outdated nishes will e ect sale time and price.
is shrinking, creating an increase in prices. The
apartment demand continues to be strong, with *VACANCY RATES DECLINING
more construction planned. Builders are reporting ABSORPTION AND VACANCY RATES - 3RD QTR 2012*
that they too will be forced to increase prices due to
OFFICE INDUSTRIAL RETAIL
higher labor, land and fuel costs. The good news is
that employment has either increased or remained ABSORPTION 1,717,250 SF 3,106,588 SF 1,197,306 SF
steady for most all industry segments. The sta ng 3RD QTR 15.7% 9.3% 8.4%
industry reports that demand is increasing VACANCY RATE
for mortgage re nance specialists and sales 2ND QTR 16.1% 9.7% 8.6%
VACANCY RATE
professionals, as well as some manufacturing
*Source: CoStar –3rd Qrt 2012
Commercial Real Estate Experts
Hudson Peters Commerical In The Community
Cincha Kostman, Vice President
Michelle Hudson, SIOR, CCIM, Principal
NTCAR Board of Director - Membership & Contracts
CREW Dallas Board of Director - Public Relations
CREW Network Dallas Convention 2013
Dallas Regional Chamber Of Commerce
The Family Place -Partners Card-Team Captain
Janice Peters, CCIM, Principal
CCIM Board of Director - Programs Kimberly Lay, Vice President
Richardson Chamber of Commerce Executive Committee for the North Dallas Chamber
CREW Dallas Programs Committee Former Deputy Mayor Pro-Tem Addison
Debi Carter, CCIM, Senior Vice President Sanober Syed, Vice President
CCIM Board of Director - Guidance CREW Careers Committee
Asian Chamber of Commerce Texas Indian Physicians Auxiliary
Board of Director - Dallas Real Estate Ministry Wharton DFW Alumni Network
Sara Fredericks, Assistant Vice President
Junior League of Dallas - New Member Chair Elizabeth Ocando, Associate
Dallas Regional Chamber Of Commerce CREW Dallas Programs Committee
Dallas Hispanic Chamber of Commerce
Elizabeth Ocando joins the Hudson Peters Commercial team with a
Scott Jackson, CCIM, Senior Vice President background in multi-tenant o ce leasing, retail project leasing, and
Metrocrest Chamber of Commerce representing the interests of local and national clients. Elizabeth is
Dallas Regional Chamber Of Commerce uent in Spanish and Hudson Peters Commercial is excited to be able
to better serve the growing Hispanic commercial real estate market.
1. Debi Carter at CCIM Convention in Las Vegas.
2. Sara Fredericks presenting to the Junior League
of Dallas. 3. Janice Peters with Ebby Halliday.
3 4. Cincha, Sara and Elizabeth attending the
DREM luncheon. 5. Sara Fredericks and Elizabeth
Ocando at the Dallas Hispanic Chamber of
Commerce with CEO Ricardo Ortiz. 6. Janice
1 2 Peters with Mary Francis Burleson, CEO of Ebby
Halliday Realtors. 7. Kimberly Lay with James
Waters, Partner with Haynes & Boone and
Dr. Gerald Turner, President of SMU. 8. HPC at the
Ball Park. 9. Debi Carter at CCIM Clay Shoot.
4 5 6 7
Listings Available 24/7
www.HudsonPeters.com
972.980.1188
4055 Valley View Lane, Suite 260
Dallas, TX 75244
8 9
Commercial Real Estate Experts
Medical O ce Real Estate Market
THE E VOLUTION OF MEDIC AL OFFICE IN
DALLAS COMMER C I A L REA L E S TAT E MARKET
MEDICAL OFFICE SPACE IN THE NORTH TEXAS MARKET HAS COME A LONG WAY.
NOT TOO LONG AGO, MEDICAL OFFICE SPACE WAS NOT CONSIDERED TO BE AN
ATTRACTIVE ASSET CLASS FOR INVESTMENT GROUPS OR DEVELOPERS BECAUSE
MOST PHYSICIANS OPENED THEIR PRACTICES IN MEDICAL OFFICE BUILDINGS
LOCATED ADJACENT TO THE HOSPITALS WHERE THEY HAD PRIVILEGES.
The doctor received a reduced lease rate and patient Insurance reimbursements to the physicians will be
referrals from the hospital and the hospital serviced its government mandated. Doctors will see more patients
patients. It was a sweet deal for everyone. At the end of at reduced fees. To make up for some of the loss in
2001, the medical o ce market began to see changes. patient revenues, physicians will re-evaluate their
While all other segments of the commercial real estate business model. Satellite o ces to service more than
market halted development and construction of new one hospital will become the norm. More visible, easier
product, the medical o ce market expanded. At that to access, and more e cient and attractively designed
same time, legislation changes in Medicare and medical o ce space will be in high demand, provided
Medicaid reimbursements eroded physician incomes it is close to the residential areas to meet the market
and regulations such as the Stark Laws which changed demands placed on the medical practioners. Properties
the relationship between the doctors and the hospitals. that were developed in the 2000 decade are relatively
Doctors were relocating their practices from the new but are being placed in functionally obsolete and
hospital campus medical o ce buildings (MOBs). In the poor location categories. With the rise in construction
North Texas market area, we were part of a perfect costs, it becomes expensive to re t these spaces to
storm of events that accommodated this desire of meet the new demands of the medical industry. Those
doctors to become independent from the hospitals. We that are no longer close to a hospital will have to be
had “green elds” to construct new medical buildings, re-purposed, and with generic o ce getting lower
some adjacent to the hospitals. Interest rates were, at rental rates and sales prices than medical o ce
then, an all-time low which made real estate ownership typically receives; it becomes a nancial paradigm for
equal to or less than the cost of leasing. And for the rst the property owners. The challenge in today’s market is
time, local developers were interested in working with how to reposition these properties and make the
doctors. All other development had stopped and the investment returns satisfactory to the ownership.
appeal of medical o ces became the sweetheart of the
development industry. Lenders liked the product as About the Author: Debi Carter, CCIM, has specialized
well and made nancing readily available. The in medical o ce space since 2002 working with doctors
to relocate their practices. She consults with them on
requirements of medical space continue to evolve as whether they should lease, buy or build a facility.
the industry adapts to new and proposed changes in Debi's experience includes development, leasing and
sales which provides her clients with expertise for
the healthcare segment. With the current government all their real estate options.
regulations, everyone will have access to medical care.
Commercial Real Estate Experts
Recent Transactions
LEASED SOLD LEASED LEASED
51,285 SF Industrial Space 16,185 SF Retail Center 4,847 SF O ce Space 2,900 SF Medical O ce Space
in Dallas; represented the On 1.49 Acres Of Land in Addison; represented the in Sunnyvale; represented the
landlord, Mercantile Don Mar, LP. in Weatherford; represented the tenant, Daseke, Inc. landlord, Sunnyvale Medical
buyer, a private investor. #2 LLC.
SOLD LEASED SOLD SOLD
23,100 SF Flex Building 14,151 SF Flex Space 4,500 SF Flex Building 2,800 SF O ce Building
On 3.5 Acres Of Land in Richardson; represented the in Dallas; represented the buyer, in Wimberley; represented the
in Carrollton; represented the tenant, Consolidated Payment Wiedamark, an LED lighting buyer, Hill Country Chic, LLC.
Seller, Bank of America, N.A. Services, Inc. company
LEASED LEASED SOLD LEASED
20,322 SF O ce Space 10,000 SF O ce/Warehouse 3,108 SF Medical O ce Condo 2,736 SF Retail Space
in Lewisville; represented the Space in Arlington; in Allen; represented the seller, in Plano; represented
landlord, Genusys Properties represented the tenant, A & B Mayflower International the tenant, Kenny’s House
Supply Inc. Investment, LP. of Smoke, LLC.
Current Listings FOR SALE
212 W Spring Valley Road
Richardson, TX 75081
Check Out Our Website www.HudsonPeters.com • Great Visibility!
Listings Available 24/7 • 11,420 SF on .38 Acres of Land
• Ideal Property for a User
FOR LEASE FOR SALE 0R LEASE
Pyramids O ce Tower 1150 N Watters Road
9201 N Central Expy, Dallas, TX 75231 Allen, TX 75013
• 4,000 SF - 77,100 SF • Building A - 5,705 SF
• Building Signage • Divisible Down to 2,400 SF
• Prominent Location, Next to NorthPark • Exchange Parkway Frontage
FOR SALE OR LEASE FOR SALE 0R LEASE
292 E Round Grove Road 418 Village Drive
Lewisville, TX 75067 Murphy, TX 75094
• 15,063 SF Free Standing Retail Building • Brand New 4,108 SF Shell Building
• Situated on 1.64 Acres • Minimum Divisible is 2,000 SF
• Close to I-35 and Vista Ridge Mall • Across From Assisted Living Residence
FOR SALE FOR LEASE
2636 National Circle 1701 Legacy Drive
Garland, TX 75041 Frisco, TX 75034
• 12,245 SF on 1.01 Acres of Land • 854 SF - 2,472 SF Available
• Industrial/Tech/Manufacturing Building • Adjacent to Stonebriar Country Club
• Heavy Power - 110/220/208, 1200 AMP • Great Retail Location
