Bi-Annual - Lee & Associates

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2019Bi-AnnualDALLAS/FORT WORTHINDUSTRIAL BRIEFSignificant Local TransactionsLee & Associates Recent Completed TransactionsNational/Dallas/Fort Worth Market OverviewSubmarket OverviewBrokerage TeamLee & Associates ListingsPublished Feb. 2019

2018 Q3 & Q4 SIGNIFICANTWAREHOUSE & DISTRIBUTION TRANSACTIONSBuyer/Tenant CompanyComp SFMarketBuyer/Tenant CompanyComp SFMarketHome Depot1,500,000Great Southwest/ArlingtonCID Resources, Inc. - (R)114,105DFW AirportAmazon - (R)920,275South DallasXPO110,127Great Southwest/ ArlingtonMalouf Sleep836,561South DallasWestern Extrusions110,000Northeast DallasHome Depot800,000Great Southwest/ArlingtonZip Ventures, LLC109,817Northwest DallasDematic707,000North Fort WorthKGP Telecommunications109,141DFW AirportMcLane Company670,300South Fort WorthFrito-Lay105,098South StemmonsPure Industrial Real Estate Trust657,043North Fort WorthGeorgia Pacific - (R)105,000South Dallas31 Gifts651,518Northwest DallasBFS Services, Inc. - (R)104,231Northwest DallasElements International Group487,200East DallasFriedrich - (R)101,563Great Southwest/ ArlingtonNoble Cotton470,000Great Southwest/ArlingtonTSI Products - (R)99,660Great Southwest/ArlingtonAlan Ritchey450,340South StemmonsProduct Innov. Research, LLC - (R)98,257Northwest DallasSmith System336,960Northwest DallasODES UTV97,806South StemmonsVira Insight329,060Northwest Dallas1000 Bulbs - (R)96,855Northeast DallasQuest Window Systems327,600Northeast DallasCynergy - (R)96,548DFW AirportLear Corporation312,314Great Southwest/ArlingtonCallbox95,492Great Southwest/ ArlingtonTIGI USA - (R)305,344Northwest DallasCallbox93,815Great Southwest/ArlingtonSmith System280,860Northwest DallasCMJ2 Properties90,432Great Southwest/ArlingtonSmartwarehouse269,494North Fort WorthAdvanced Integration Tech - (R)88,000Great Southwest/ArlingtonEricsson Inc264,577Northwest DallasAIT88,000Great Southwest/ArlingtonKatoen Natie262,000South DallasCrestron Southwest, Inc.81,627DFW AirportMidwest Air Technologies - (R)251,424East DallasBaylor Health Care System - (R)80,000South StemmonsXpressdocs221,000North Fort WorthThe Cotton Co.80,000South StemmonsYoung Valley218,787Northeast DallasCollier Metal Specialties LTD - (R)80,000Northeast DallasPacific Plus International, Inc.218,787Northeast DallasNova Alloys -(R)79,239East DallasAmerican Hotel Register Co214,960DFW AirportZip Ventures, LLC75,709Northwest DallasPlastipak Packaging - (R)208,712Northeast DallasTorchlight Investors75,709Northwest DallasKGP Telecommunications204,556DFW AirportLPC TX Visual LLC75,000Northwest DallasBetter Home Products - (R)179,875Great Southwest/ArlingtonGuest Supply75,000Northeast DallasChase Industries172,120South StemmonsChapperral Dodge Inc73,500Northwest DallasShade Structures170,000South StemmonsTwin Med, Inc. - (R)72,077Northeast DallasAviall166,704DFW AirportPower Distributors, LLC72,000Northeast DallasManufacturing162,800East DallasGraphic Solutions Group, Inc. - (R) 72,000Northwest DallasGreatwide Logistics Services - (R)155,200North Fort WorthDomtar Paper Co LLC -(R)South Stemmons69,577JT Fulfillment151,200DFW AirportMulti Packaging Solutions - (R)69,000Northeast DallasAmerican Standard147,750South DallasTCI Tire Centers, LLC68,300East DallasViracon144,960East DallasIcon Owner Pool 1 Texas LLC67,372Northeast DallasImpact Floors138,317Northwest DallasFactory Blue65,814Great Southwest/ArlingtonCaptex Development138,317Northwest DallasXylem65,409Northwest DallasAlliance Glass & Metal136,825Northeast DallasBedz King - (R)65,000Great Southwest/ArlingtonRTP131,996South Fort WorthKomplete Group64,720Great Southwest/ArlingtonB2 Signs129,035Northeast DallasCowtown Materials64,249Northwest DallasABC Supply129,000South DallasPolymer Logistics63,000South StemmonsWestin Automotive128,400North Fort WorthSharon Young62,922Northeast DallasABC Supply Co., Inc.128,000South DallasChadwell Supply60,000DFW AirportFollettUSA122,265Northeast DallasBrunton International, Inc. - (R)60,000South StemmonsWisteria - (R)119,083Northwest DallasMarco Company60,000North Fort WorthBuilders FirstSource - (R)117,072DFW AirportBerkeys59,600DFW Airportleedallas.com*Data obtained from Lee Source and CoStar Group(R) - Renewal2

2018 Q3 & Q4 SELECT LEE & ASSOCIATESRECENT COMPLETED TRANSACTIONSSOLD - 836,561 SFLEASED - 204,556 SF1511 NE Loop 820Fort Worth, TX 76131North Fort Worth3800 Railport PkwyMidlothian, TX 76065South Dallas801 Industrial Blvd, Ste 100Grapevine, TX 76051DFW AirportLEASED - 136,825 SFLEASED - 117,072 SFSOLD - 109,817 SF2901 W Kingsley RdGarland, TX 75041Northeast Dallas8701 Sterling StIrving, TX 75063DFW Airport1700 Columbian Club DrCarrollton, TX 75006Northwest DallasLEASED - 109,141 SFLEASED - 104,231 SFLEASED - 99,660 SF8551 Esters BlvdIrving, TX 75063DFW Airport1800-1810 Kelly BlvdCarrollton, TX 75006Northwest Dallas809-811 110th St, Ste 100Arlington, TX 76011Great SW/ArlingtonSOLD - 75,709 SFLEASED - 72,077 SFSOLD - 66,23212400 Ford RdFarmers Branch, TX 75234Northwest Dallas10401 Miller Rd, Ste 100-200Dallas, TX 75238Northeast Dallas3737 Airport FrwyBedford, TX 76021Great SW/ArlingtonSOLD - 66.13 ACRES35W8203*Data obtained from Lee Source and CoStar Groupleedallas.com

INDUSTRIAL MARKET OVERVIEWNationalDallas/Fort Worth The industrial vacancy rate for the overall U.S.market decreased 20 basis points from 4.7% inQ4 2017 to 4.5% in Q4 2018. We foresee vacancyrates to start rising slightly due to the number ofbuildings under construction and expect slowerabsorption going into 2019. Absorption of industrial space for 2018 was230 million SF, which is down slightly from 258million SF in 2017. Deliveries of new space in 2018 (229 million SF)were very similar to 2017 (225 million SF). Newconstruction volume rose 7% from a year ago,with 259 million SF of space under construction.DFW is ranked fifth in the nation, with 19.6million SF under construction. Philadelphiacurrently leads the nation with 30.1 million SFunder construction. Due to the amount of industrial space underconstruction and a slowdown in absorption,there are concerns of oversupply of space. Weanticipate this trend to cause a slowdown inconstruction going into 2019. E-commerce and big box needs still drives amajority of new construction demand. The growing instant gratification culture drivese-commerce companies to open smaller, lastmile locations in urban submarkets, giving themthe capability to deliver within hours instead ofdays. This trend drives the need to repurposeolder properties into distribution locations. The DFW Industrial market consists of 912.16 millionSF, and 19.62 million SF is under construction. Thetotal industrial market eclipsed 900 million SF in Q42018. 2018 saw net absorption of 20.225 million SF anddeliveries of 25.287 million SF. While absorptiontrailed new deliveries in 2018, we suspect there willbe healthy absorption in Q1 2019 -- keeping vacancyrates relatively flat. The overall vacancy rate for DFW rose slightly to 6.2%at the end of 2018 compared to 5.8% in Q1 2018. Thistrails the national average, but remains historicallylow for the Dallas/Fort Worth market. Due to the lowvacancy rate, DFW experienced more than 7% yearover-year rental rate growth in the first half of 2018. Cap rates were slightly lower on a year-over-yearcomparison, averaging 7.15% for 2018. Sales volumehas been trending down quarter-over-quarter from apeak in Q3 2017. Increasing rental rates and stableto-compressed cap rates reward owners for waiting,as the average sale price was 69.08/SF in 2018 andis off-setting rising interest rates currently. Looking forward, we expect the balance betweennew supply and demand to continue to supportlow vacancy rates, rising rental rates, and a healthyindustrial market. Higher rental rates will support newconstruction as industrial development sites becomemore expensive to build upon, which should helpmaintain balance in supply and demand.10.0% 8.009.0% 7.008.0% 6.007.0%9.0%6.0%5.0% 4.005.0%4.0% 3.00 2.001.0%0.0%20122013201420152016Vacancy Rateleedallas.com20172018Q12018Q22018Q32018Q4 5.007.0% 5.002.0% 6.008.0%6.0%3.0% 7.0010.0% 4.00 3.004.0%3.0% 2.002.0% 1.001.0% 0.000.0% 1.0020122013201420152016Vacancy RateRental Rates*Data obtained from Lee Source and CoStar Group20172018Q12018Q22018Q32018Q4 0.00Rental Rates4

DFW INDUSTRIAL MARKET OVERVIEWCURRENT STATS2018 Q4 OVERALL DFW MARKETPeriod2018 4q2018 3q2018 2q2018 1q2017 4q2017 3q2017 2q2017 1q20162015Total ,140,369838,677,687Vacancy rption 13,1915,178,0744,615,38425,940,60821,923,888Under Construction 572018 Q4 SUBMARKET OVERVIEWMarketTotal Inventory Vacancy Rate YTD Absorption SF Under Construction SFDFW Airport IndEast Dallas IndGreat SW/Arlington IndHenderson County IndNorth Ft Worth IndNortheast Dallas IndNorthwest Dallas IndNW Dallas Outlying IndSouth Dallas IndSouth Ft Worth IndSouth Stemmons 987.5%20,225,51919,618,0952018 Q4 CONSTRUCTION ACTIVITYMarketAverage Bldg Size# BldgsTotal UnderConstructionPreleased SFPreleased %All ExistingU/CGreat SW/Arlington IndSouth Dallas IndNorthwest Dallas IndNortheast Dallas IndNorth Ft Worth 11276,003880,106176,84991,225239,555East Dallas IndSouth Stemmons IndSouth Ft Worth IndDFW Airport IndHenderson County 243,087Totals5Under Construction Inventory*Data obtained from Lee Source and CoStar Groupleedallas.com

uthDFW INDUSTRIALSUBMARKET OVERVIEWDFW AirportEast Dallas 2.3 million SF of warehouse and industrial flex space wasdelivered in the last quarter of 2018 -- more than at anyother time in the last four years. Another 2 million SF isunder construction and scheduled to come to market laterthis year. While vacancy for warehouse space is at 7.1%, developersremain optimistic that demand from large industrial userswill remain strong. Quoted rates are at 5.46 PSF NNN . Among the warehouse deals completed in the 4th quarter:The technology company, Crestron, leased 81,627 SF onairport grounds at International Logistics Center and KGPTelecommunications leased 204,556 SF west of the airportin Grapevine. East Dallas continues to see vacancies staying between4.0% - 5.5%. However, one small reason for concern is thatvacancy has increased almost 1.1% since the start of Q32018. Average net lease rates in East Dallas were north of 6.00PSF for the first time since late Q1 2018. Overall, the East Dallas market remains very healthy.Average lease rates have grown 157% since Q4 2015. Prologis recently broken ground on their 237,473 sfspec development in Mesquite near the I-30/Highway 80intersection.12.00% 8.0010.00%8.00%9.00% 6.008.00%4.00% 4.005.00% 3.004.00%201220132014201520162017Vacancy Rate2018Q12018Q22018Q32018Q4 4.00 3.003.00% 2.002.00% 1.000.00% 5.006.00% 2.002.00% 6.007.00% 5.006.00% 7.0010.00% 7.00 1.001.00%0.00% -201220132014201520162017Vacancy RateRental 22018Q3 0.002018Q4Rental 0152016AbsorptionNorthwestDallas 800,000 18Q12018Q22018Q32018Q4-600,000RENTAL RATEDFW AirportQ4 2018DeliveredNortheastDallas5.3%VACANCYRATEQ4 2018DFW AirportSouthStemmonsSouthSouthStemmonsFort Worthleedallas.com2016AbsorptionVACANCYNorthRATEQ4 20182015-400,000DeliveredAVERAGERENTAL RATENorthFort Worth2018Q12012Great SW/ArlingtonGreat SW/ArlingtonEast DallasSouth DallasEast Dallas*Data obtained from Lee Source and CoStar Group6

DFW INDUSTRIALSUBMARKET OVERVIEWGreat SW/ArlingtonNorth Fort Worth The demand for space in GSW holds strong into Q4 2018,with an absorption of 5.9 million SF to close out the year. A decreasing vacancy rate of 4.9% pushed the averagequoted rate up to 5.53/SF. Developers continue to be bullish in the GSW submarket,with 5.5 million SF under construction. 2018 deliveries of 1.8 million SF pushed the total marketsize to just under 114 million SF. There is continued demand for space in North Fort Worthwith 3.2M SF of net absorption through end of 2018. Currently, North Fort Worth posts a vacancy rate of 5.8%. At the moment, there are approximately 2.1M SF of spaceunder construction. An additional 2.2M SF is expected to be announced withconstruction commencing in Q1 2019. Dematic, Smart Warehousing & Westin Automotive areseveral of the groups who have taken down big blocks ofspace in 2018.12.00% 6.0012.00% 7.0010.00% 5.0010.00% 6.008.00% 4.008.00%6.00% 3.006.00%4.00% 2.004.00%2.00% 1.002.00% 0.000.00% 5.00 4.00 3.000.00%201220132014201520162017Vacancy Rate2018Q12018Q22018Q32018Q4 2.00 0122013NorthwestDallas201420152016Absorption 5.53NorthAVERAGEFort WorthRENTAL RATEQ4 2018201620172018Q12018Q22018Q32018Q4 0.00Rental FW AirportRATEQ4 2018Great rt Worth2015Vacancy Rate7,000,0001,000,0002014Rental Rates8,000,0002,000,00020132017Q4 2018NorthEast DallasFort Worth2018Q22018Q32018Q4Delivered 6.64AVERAGERENTAL RATE2018Q15.8%NorthwestDallasVACANCYRATEQ4 2018DFW AirportSouth DallasSouthStemmons7*Data obtained from Lee Source and CoStar GroupSouthGreat SW/Arlingtonleedallas.comSouth Dallas

DFW INDUSTRIALSUBMARKET OVERVIEWNortheast DallasNorthwest Dallas The Northeast Dallas submarket continues to be veryhealthy with a vacancy rate of 5.6%. Throughout 2018, thevacancy rate consistently hovered between 5.5% - 5.7%. At the end of 2018 there were approximately 2,189,391SF under construction in NE Dallas. Northeast Dallas has 24 buildings currently underconstruction, which is the most it has seen since Q4 2016. Jackson Shaw recently completed a prelease at their newParc North East development in Richardson. The tenant,E4D Technologies, leased 42,362 sf. The four building,434,000sf spec development is scheduled to be deliveredQ2 2019. 2018 vacancy rates in the Northwest Dallas submarketincreased from 4.9 million SF at the end of Q2 to 5.7million SF at the end of Q3 2018, but then dropped to 5.6million SF at the end of the year. Quoted rental rates continued their upward climb fromtheir mid-year high of 6.62 SF in 2018. Rental ratesbegan to quickly increase in Q2 2018 and continued theirincrease throughout the rest of 2018, ending the yearabove 7.00 ( 7.03/SF). During Q3 2018, the market had negative net absorptionafter the 685,000 SF absorbed the previous quarter.However, Q4 2018 absorption roared back with over833,000 SF absorbed. One of the largest leases was Smith System. They leaseda total of 617,820 SF from Core5’s new 2 buildingdevelopment in Carrollton. The 2 buildings are notexpected to be delivered until October of 2019.12.00% 9.00 8.0010.00% 7.008.00% 6.00 5.006.00% 4.004.00% 3.00 2.002.00% 8.0012.00% 7.0010.00% 6.008.00% 5.00 4.006.00% 1.000.00%201220132014201520162017Vacancy Rate2018Q12018Q22018Q32018Q4 0.00 3.004.00% 2.002.00%Rental Rates Q32018Q4 0.00Rental 013201420152016Absorption2017 7.462018Q40-500,00020122013201420162017 7.032018Q22018Q32018Q45.0%VACANCYRATEQ4 2018Q4 2018NorthwestDallasNorthFort Worth2018Q1DeliveredAVERAGERENTAL RATENortheastDallasSouthStemmons2015AbsorptionQ4 2018DFW AirportGreat 2018Q2VACANCYRATEQ4 2018NorthFort Worth2018Q1DeliveredAVERAGERENTAL RATESouth2016Vacancy Rate4,500,00002015NortheastDallasDFW Airport*Datafrom Lee Source and CoStar GroupEastobtainedDallasSouthStemmons8

DFW INDUSTRIALSUBMARKET OVERVIEWSouth DallasSouth Fort Worth There are currently 2,640,319 total RBA SF in the SouthDallas industrial market, with 700,678 SF preleased (26.5%).The average existing building is 61,508 SF and the averagesize of buildings under construction is 880,106 SF. The largest lease signed in the DFW metroplex took placein South Dallas at DalParc I-20-Building 1; the 920,275 SFlease was signed by Amazon. Regarding the flex market statistics in South Dallas, themarket now has a total of 4,497,795 SF of flex productmade up of 385 buildings. The current vacancy in SouthDallas totals 94,816 SF (2.1%). The average quoted rate forflex property in South Dallas averages 8.06 NNN. South Fort Worth saw a spike in absorption totaling almost1 million SF -- 997,848 SF absorbed. Total absorption outpaced the last two years’ positiveabsorption combined. Vacancy dropped 20% to 3.7%, which is down from 4.6%in Q3 2018. Quoted average rental rates rose by 0.05 market-wide atthe end of 2018. GXI Outdoor Power leased a 52,600 SF suite in Fort Worth,at7439 Pebble Drive in November of 2018. The tenant wasrepresented by Robert Miller of Lee & Associates DFW, andthe landlord was represented by Todd Lambeth of WingertRE.14.00% 4.10 4.0012.00% 3.90 3.8010.00% 3.708.00% 3.606.00% 3.504.00% 3.30 3.40 3.202.00%0.00% 3.10201220132014201520162017Vacancy Rate2018Q12018Q22018Q32018Q4 3.007.00% 7.006.00% 6.005.00% 5.004.00% 4.003.00% 3.002.00% 2.001.00% 1.000.00%2015201620172018Q12018Q22018Q3 0.002018Q4Rental 52016Absorption2017 Q4 2018Q4 2018SouthStemmonsSouth 32018Q4-1,000,000AbsorptionVACANCYRATERENTAL RATEGreat VERAGE92014Vacancy Rate7,000,000rthWorth2013Rental Rates8,000,000Northwest1,000,000Dallas 02012 6.64NorthFort WorthAVERAGERENTAL RATEQ4 2018Delivered3.7%DFW AirportVACANCYRATEQ4 2018SouthStemmonsEast DallasSouthFort Worth*Data obtained from Lee Source and CoStar GroupGreat SW/ArlingtonSouth Dallasleedallas.com

horthDFW INDUSTRIALSUBMARKET OVERVIEWSouth StemmonsDallas/Fort Worth Team The South Stemmons submarket saw close to an all-timelow vacancy rate of 4.9%: West Brookhollow (2.7% vacant),East Brookhollow (1.8% vacant), West Hines (1.7% vacant),East Hines (4.1% vacant). The largest number of vacancies exist in the Lonestar/Turnpike business parks, which includes the vacantformer 4 million SF Vaught Aircraft facility alongJefferson Boulevard, although this facility is planned forredevelopment this coming year. The overall low vacancy rate for South Stemmons can beattributed to the lack of development and/or developablesites, as well as the location in proximity to downtownDallas and the Dallas Design District.10.00% 9.009.00% 8.008.00% 7.007.00% 6.006.00%Nathan DentonPrincipalPrincipalPrincipalSIOR, CCIMSIORMark GraybillReid BassingerAdam GrahamPrincipalPrincipalPrincipalSIORSIOR, CCIMTom WalrichPrincipalGeorge TanghongsSIOR, CCIMPrincipal 4.004.00% 3.003.00%2.00% 2.001.00% 1.000.00%Ken WessonSIORSIOR, CCIM 5.005.00%Trey Fricke201220132014201520162017Vacancy Rate2018Q12018Q22018Q32018Q4 0.00Rental Rates3,000,000Brett LewisPrincipalReed ParkerPrincipalBecky ThompsonPrincipalRob MillerDirectorPhillip RosenfeldDirectorMatthew ThompsonDirectorCorbin BlountDirectorStephen WilliamsonDirectorTaylor StellAssociateColton RhodesAssociateMike EbbittAssociateConnor sorptionDelivered 8.074.9%AVERAGERENTAL RATEVACANCYRATEQ4 2018Q4 2018DFW AirportSouthStemmonsGreat SW/Arlingtonleedallas.comNortheastDallasEast DallasJohnny AndersonAssociateSouth Dallas*Data obtained from Lee Source and CoStar GroupSarah MudgeAssociate10

SELECT LEE & ASSOCIATESLISTINGSFOR LEASEFOR LEASEFOR LEASEFOR LEASEInterstate CrossingFort Worth, TX1650 FM 546McKinney, TX5180 N. Railhead RdFort Worth, TXFirst Park 121Lewisville, TXAvailable Space:Lease Rate:1,021,440 SF 3.95 NNNAvailable Space:Lease Rate:550,000 SF 6.50 NNNAvailable Space:Lease Rate:362,670 SF 3.95 NNNAvailable Space:Lease Rate:220,480 SFNegotiableProperty Description:Multi-building two-phase projectwith BTS office, 28’ to 32’ clearheight, 50’x50’ column spacing,and outside storage availableProperty Description:Divisible, 32’ clear height, 53 DHdoors, 2 ramp doors, and ESFRProperty Description:Multi-building two-phase projectwith BTS office, 32’ clear height,ideally located with access toInterstate and local freewaysFOR LEASEFOR LEASEFOR LEASEFOR LEASE500 Industrial Blvd.Grapevine, TX2300 E. Bardin RdArlington, TX5375 FAA BlvdIrving, TX1581 Corporate DrMcKinney, TXProperty Description:BTS office, 40’ clear height, 196DH doors, 227 trailer parks andESFRAvailable Space:Lease Rate:191,800 SFNegotiableAvailable Space:Lease Rate:166,746 SFNegotiableAvailable Space:Lease Rate:117,000 SFNegotiableAvailable Space:Lease Rate:115,176 SF 6.75 NNNProperty Description:23’-27’ clear height, 10 DH doors,249 car parking spaces, 480v,3-Phase, 6,000 Amp power, ClassIV sprinklerProperty Description:32’ clear height, 39 DH doors,215 car parking spaces, 75 trailerparking spaces, front-park, rearload, and ESFRProperty Description:18 DH and 2 ramp doors,centrally located south of DFWAirport, end-cap, and front-park,front-load configurationProperty Description:Divisible to 28,500 SF, 32’ clearheight, and Q4 2018 completionFOR LEASEFOR LEASEFOR LEASEFOR SALE/LEASE921 W. Bethel RdCoppell, TX3301 E Plano PkwyPlano, TX1000 Garden Ridge BlvdFlower Mound, TXSWC Rochelle Rd & Hwy 161Irving, TXAvailable Space:Lease Rate:70,000 SF 5.25 NNNProperty Description:100% HVAC, 14 dock high doors,32’ clear height, 50’x50’ columnspacing and ESFR11Available Space:Lease Rate:52,786 SF 7.50 NNNProperty Description:Divisible to 17,413 SF, PlanoPkwy frontage, 24’ clear height,flexible office/floor plan.Available Space:Lease Rate:51,420 SF 6.75 NNNProperty Description:Divisible to 18,000 SF, BTS office,24’ clear height, 16 DH doors, 1DI door, and ESFR*Data obtained from Lee Source and CoStar GroupAvailable Space:32,599 SFProperty Description:Mustang Crossings BusinessPark is a multi-building industrialdevelopment with access to AirportFreeway/State Hwy 183 andPresident George Bush Turnpike.leedallas.com

NATIONAL PRESENCE.Lee & Associates proudly serves the business communityin markets across the United States and British Columbia,Canada. Each independently-owned office has a serviceplatform designed and built to serve the needs of its localbusiness community and to other Lee professionals whorepresent multi-market clients. Depth of experience, cuttingedge resources and superior market intelligence are corestrengths of every Lee office. Since Bill Lee opened the firstoffice in Southern California back in 1979, Lee & Associateshas been on a steady path of growth. It now maintains astrong presence in primary and secondary metro commercialreal estate markets from coast to coast, ready to serve yourcommercial real estate needs.LOCAL EXPERTISE15455 Dallas Parkway, Suite 400Addison, TX 75001972.934.4000LeeDallas.com59 Offices Nationwide1000 Real Estate Agents 13 BillionAnnual Transaction Volume

Viracon 144,960 East Dallas Icon Owner Pool 1 Texas LLC 67,372 Northeast Dallas Impact Floors 138,317 Northwest Dallas Factory Blue 65,814 Great Southwest/Arlington Captex Development 138,317 Northwest Dallas Xylem 65,409 Northwest Dallas Alliance Glass & Metal 136,825 Northeast Dallas

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