Suburban Dallas Apartment Market - What's new in the Market
Employment Changes
Employment Addition: 0

Employment Reduction: 0

 

Labor Force Data
Employment Labor Force (Thousands - 000)
Industry2012
Dec
2013
Jan
2013
Feb
2013
Mar
2013
Apr
2013
May
2013
Jun
2013
Jul
2013
Aug
2013
Sep
2013
Oct
2013
Nov
2013
Dec
Year Change
Total Nonfarm2,159.92,156.02,152.02,148.02,162.02,174.32,186.62,192.22,198.22,200.02,205.82,210.32,214.32.5 %

 

Source: U.S. Bureau of Labor Statistics:
Metro Division(s): Dallas-Plano-Irving

 


Population - Most Recent Reporting Year
Change
YearPopulation (000)Number(000)Percentage
20103,4481334.0%

Population - Prior Years
Change
YearPopulation (000)Number(000)Percentage
20063,31536112.2%
20002,954--
Source: U.S. Census. Figures for combined counties: Dallas, Denton, Ellis, Hunt, Kaufman and Rockwall
Cypress Waters
February, 28, 2014
(Dallas Business Journal) Billingsley Co. has jump-started the $3.5 billion master-planned, mixed-use development at the northeast corner of Belt Line Road and Interstate 635 called Cypress Waters, which recently landed the headquarters for Irving-based Cheddar’s Casual Cafe. Real estate sources say they expect Cypress Waters to land some big corporate tenants in the market. The developer has three office buildings underway to attract some of those tenants, as well as a corporate campus park. Plans for the massive project include a corporate campus of 4.5 million square feet of office space, 10,000 apartments and townhomes, 400,000 square feet of retail space and three one-acre parks. The project’s proximity to Dallas/Fort Worth International Airport, as well as the rest of North Texas, is one of the reasons why corporate America is taking notice of Cypress Waters, said Marijke Lantz, a senior vice president at Billingsley Co.

Grandscape Mixed-Use Development
May, 28, 2014
(Dallas Business Journal) Nebraska Furniture Mart Inc. has planned a nearly 1.9 million-square-foot showroom and distribution center at the southeast corner of the Sam Rayburn Tollway and Plano Parkway. The facility is an anchor for 433-acre mixed-use development, called Grandscape. Jeff Lind, chief strategy and development officer, has heard from hotel developers, apartment developers and family-branded restaurants, but is waiting until the distribution center and showroom opens to make any big moves on the larger plans for Grandscape. The company plans to employ about 2,000 people, with about 400 employees transferring from existing stores. The distribution center is expected to begin getting product by this fall, with the showroom opening to customers by spring 2015.

Rental Market
Rental Rates - Summer, 2014
Unit TypeLowHighAvg
One Bedroom$399$2,173$742
Two Bedroom/Two Bath$520$3,840$1,017
Sale Activity
Completed Sales - Sixty Days
# Properties# Units
51066
Completed Sales - Year-To-Year
Period Change
2012/2013 2013/2014 Number Percent
Completed Sales* 50 51 1 2%

* Sales reported are among properties 50 units and larger.
2012/2013 = (28 Aug 2012 - 27 Aug 2013)
2013/2014 = (28 Aug 2013 - 27 Aug 2014)
New Construction
Properties Under Construction23
Units Under Construction6430
Construction Starts, Last 30 days0
Construction Completions, Last 30 days0
Broker Sales
Broker(s)Marcus & Millichap
Al Silva
817-932-6134
PropertyLa Costa Townhomes
Sale DateJune, 2014
No. of Units88
Sales Price$5.5mm

Broker(s)Marcus & Millichap
John Barker
972-755-5221
PropertyHolly Park
Sale DateJuly, 2014
No. of Units160
Sales Price$NA

Broker(s)Transwestern
Phil Wiegand
214-446-4569
Property19Twenty
Sale DateAugust, 2014
No. of Units184
Sales Price$9.7mm