Bi-Annual - Lee & Associates
Bi-Annual DALLAS INDUSTRIAL BRIEF Significant Local Transactions Lee & Associates Recent Completed Transactions National / Dallas Market Overview Submarket Overview Lee & Associates Listings Brokerage Team
Q1 & Q2 2017 SIGNIFICANT WAREHOUSE & DISTRIBUTION TRANSACTIONS BUYER / TENANT COMPANY SQ. FT. SUBMARKET BUYER / TENANT COMPANY SQ. FT. SUBMARKET UPS 1,300,000 N Fort Worth Ind Marco Company 126,000 N Ft Worth Ind Kohler 1,300,000 S Dallas Ind Wizards of the Coast, Inc. 123,864 GSW/Arlington Ind UPS 1,004,400 Arlington Ind Sub-Zero 119,000 South Dallas Ind Wayfair 750,000 S Dallas Ind Samsung Electronics 115,200 DFW Airport Ind GE Appliances 702,000 GSW/Arlington Ind StoneCrop 114,515 NE Dallas/ Garland Ind Campbell Soup 577,760 N Fort Worth Mediocre Corporation 114,432 Lewisville Ind Continental Tires (R) 542,785 South Stemmons Ind DB Shenker 112,881 NE Dallas/ Garland Ind Quaker Oats/Pepsi Co 518,241 S Stemmons Ind FedEx (R) 110,880 S Cen. Tarrant Cnty Ind Lasko Products, Inc. (R) 505,000 Meacham Fld/ Fossil Cr Ind Signature Global Logistics 109,141 E DFW Air/ Las Colinas Ind S&S Activewear, LLC 492,322 N Ft Worth Ind 103,889 Upper Great Southwest Ind KidKraft (R) 401,572 E DFW Air/ Las Colinas Ind Levantina 102,399 Northwest Dallas Ind Mars Petcare (R) 393,899 S Dallas Ind Rudolph’s, Inc. 100,423 GSW/Arlington Ind Pegasus Logistics Group (R) 367,575 DFW Airport Ind TSI Products 99,660 GSW/Arlington Ind Fed Ex 365,000 Arlington Ind DC Fufillment 97,446 N Stemmons/ Valwood Ind Geodis (R) 362,500 South Stemmons Ind PCA (R) 96,000 NE Dallas/ Garland Ind C&S Wholesale Grocers, Inc. 355,577 DFW Airport Ind NAWF Co, Inc. (R) 93,563 GSW/Arlington Ind KGP Telecommunications (R) 335,480 DFW Airport Ind Special Logistics Dallas (R) 89,544 GSW/Arlington Ind Dematic 299,810 N Ft Worth Ind Unicom Engineering, Inc (R) 82,880 NE Dallas Lasko Products, Inc. (R) 295,000 Meacham Fld/ Fossil Cr Ind PGAL 82,797 E DFW Air/ Las Colinas Ind Speed FC (R) 267,690 NE Dallas/ Garland Ind Infinite Electronics 79,000 Northwest Dallas Ind Hemispheres (R) 262,550 DFW Airport Ind The Wasserstrom Company 77,606 NE Dallas/ Garland Ind The Kraft Heinz Company 260,959 NE Dallas/ Garland Ind Race Trac 73,901 GSW/Arlington Ind Geodis 228,000 GSW/Arlington Ind Iron Mountain (R) 72,625 DFW Airport Ind University Furnishings 227,768 NE Dallas/ Garland Ind Double R Transport 67,375 GSW/Arlington Ind Mars Pet Care 211,948 SE Dallas/ I-45 Ind AZ Parts Master 67,017 NE Dallas/ Garland Ind TriMark USA, LLC 211,312 Northwest Dallas Ind Trend Offset Printing (R) 66,880 N Stemmons/ Valwood Ind Robinson Aerospace, Inc. 209,081 N Ft Worth Ind Penhall Company 65,000 Western Lonestar/ Tpke Ind American Textile Co. 201,600 S Dallas Ind Assa Abloy (R) 63,602 NE Dallas/ Garland Ind Multiquip (R) 200,154 Northwest Dallas Ind BeavEx 60,380 DFW Airport Ind Chep USA 199,750 E Dallas Ind Marco Company (R) 60,000 N Ft Worth Ind Jeldwin 175,000 GSW/Arlington Ind Advantage Aviation Tech, Inc. (R) 59,970 West Brookhollow Ind FedEx 173,587 Arlington Ind Espree 59,280 DFW Airport Ind BFS Services (R) 167,820 DFW Airport Ind Finish Master Auto & Industrial Paint 59,139 GSW/Arlington Ind Blue Linx (R) 161,911 Meacham Fld/ Fossil Cr Ind Kapstone Container Corporation Dealer Tire LLC 159,768 GSW/Arlington Ind Dynamic Glass 54,616 GSW/Arlington Ind Hayes 157,000 E Dallas Ind Bionew USA Corp. 53,635 NE Dallas/ Garland Ind Lasko Products, Inc. (R) 152,052 Meacham Fld/ Fossil Cr Ind Value Lighting 52,250 Northwest Dallas Ind Petmate 148,645 GSW/Arlington Ind 51,555 NE Dallas/ Garland Ind Suddath 148,357 Upper Great Southwest Ind Pratt & Whitney 50,400 GSW/Arlington Ind PetMate 147,645 Lower Great Southwest Ind Lighthouse Distribution 50,390 S Stemmons Ind CEVA Logistics (R) 140,000 DFW Airport Ind Marlite Corp (R) 50,121 GSW/Arlington Ind Batory Foods 135,323 NE Dallas/ Garland Ind DHL Express 50,000 Northwest Dallas Ind 1000 Bulbs (R) 131,950 NE Dallas/ Garland Ind Mountain West Industrial Properties 50,000 Northwest Dallas Ind In-N-Out Burger 130,000 SE Dallas/ I-45 Ind Chloe Lighting 49,994 NE Dallas/ Garland Ind CEVA 129,500 N Fort Worth Solid Gear 48,526 NE Dallas McKillican International, Inc. (R) 47,500 Northwest Dallas Ind Aston Global 47,200 NE Dallas/ Garland Ind SWS Re-Distribution Company, Inc. (R) 127,506 Northwest Dallas Ind Clover Telecom leedallas.com 127,000 DFW Airport Ind Ox Paperboard Supreme Fixture 58,000 E Dallas Ind Lee & associates tranactions are highlighted in red. (R) Renewal *Data obtained from Lee source. 2
SELECT LEE & ASSOCIATES RECENT COMPLETED TRANSACTIONS 3 SOLD - 96.62 ACRES LEASED - 492,322 SF LEASED - 355,577 SF Risinger Road Fort Worth, TX South Fort Worth 9755 & 9761 Clifford Drive Dallas, TX South Stemmons Ind. 777 Freeport Parkway Coppell, TX DFW Airport Ind. LEASED - 209,081 SF LEASED - 167,820 SF LEASED - 99,660 SF 13901 Aviator Way Fort Worth, TX N. Fort Worth Ind. 500 Airline Drive Coppell, TX DFW Airport Ind. 809-811 110th Street Arlington, TX Great SW / Arlington Ind. LEASED - 82,880 SF LEASED - 60,380 SF LEASED - 53,635 SF 3501 E. Plano Parkway Plano, TX NE Dallas 921 W Bethel Road Coppell, TX DFW Airport Ind. 2525 S. Shiloh Road Garland, TX NE Dallas / Garland Ind. SOLD - 42,350 SF LEASED - 38,282 SF SOLD - 25,110 SF 399 N. Great Southwest Pky. Arlington, TX Great SW / Arlington Ind. 1624 W. Crosby Road Carrollton, TX Northwest Dallas Ind. 10920-11024 Indian Trail Dallas, TX South Stemmons Ind. leedallas.com
NATIONAL / DFW WIDE MARKET OVERVIEW ABSORPTION DELIVERIES Millions NATIONAL OVERVIEW 2010 32,910,188 31,851,278 2011 153,732,508 48,333,762 2012 176,764,220 66,827,568 2013 231,049,747 87,698,986 2014 264,863,111 147,090,740 2015 310,985,886 216,094,052 2016 350,726,292 265,296,368 400.0 Industrial cap rates may not necessarily rise should interest rates rise. This is primarily based on interest in industrial product as a replacement to other investVacancy Rate Rental Rate 10.10% 5.17 ments such as the stock market and inflow of interna- 2010 2011 9.50% 5.11 2012 8.80% 5.18 tional capital 2013 8.00% 5.36 GDP optimism is higher than six months ago. 2014 7.20% 5.50 The leading logistic markets, Southern California, Dal- 2015 6.40% 5.76 2016 5.40% 6.05 las, Atlanta and Chicago are no surprise, however, New Jersey and Lehigh Valley are lagging compared to 12% historical absorptions 10% With 200 million square feet of logistics construction 8% across the US, primarily geared to all or partial e-com6% merce, the outlook is very positive coming into the 2nd half of 2017. Certain over-supply threats exist in Lehigh 4% Valley, PA, Las Vegas, Inland Empire, CA and Nashville 2% 350.7 350.0 311.0 300.0 200.0 231.0 147.1 100.0 50.0 0.0 VACANCY RATE 6.05 AVERAGE RENTAL RATE DALLAS / FORT WORTH OVERVIEW ABSORPTION DELIVERIES 32.9 31.9 2010 2011 2013 ABSORPTION 2014 2015 2016 DELIVERIES 7.00 6.50 6.00 5.50 5.00 4.50 4.00 3.50 2014 12,700,701 15,844,386 2013 2015 18,538,656 17,184,314 2014 2016 2017 YTD 3.00 23,451,229 10,599,170 2.50 19,796,793 15,587,981 2015 2016 Rental Rate 25 23.5 RATE *Data obtained from Lee Source and CoStar Group 2012 Vacancy Rate 20 Vibrant activity, scarcity of infill sites, slight slowdown in deal velocity, increasing finish out costs, more e-comVacancy Rental Rate 15 Rate merce and a rising pre-lease rate of 36% sum up the 2011 10.10% 12.1 4.38 4.759.7 10 industrial street talk amongst the key industrial brokers2012 9.10% 2013 7.10% 5.15 and developers as summer winds up in mid Q3 for DFW 2014 7.30% 5.34 5 2015 7.00% 5.22 2.3 Based on historical market cycles, we are past the ex1.9 2016 6.10% 5.61 pected peak of the market. For many property owners,2017 6.50% 5.38 2011 2012 that leads to selling. For others with a long-term hold profile, building or developing into additional product is 12% the focus 10% For occupants, it is difficult to act upon acquiring prop8% erty at or near peak, however, there is not any current indicators suggesting a decline in lease rates/sale prices 6% 4% and no indicators suggesting any near-term imbalance of supply to demand. We suggest a leading indicator 2% may be a decrease in pre-leasing percentages on specu- 0% 2011 2012 lative projects Overall, Dallas/Fort Worth is positioned very well in all performance indicators when compared to the industrial 6.5% markets across the US VACANCY leedallas.com 87.7 66.8 48.3 2011 2012 2013 12,148,622 9,746,569 17,818,159 0% 1,898,291 2,254,101 7,194,620 2010 2011 2012 Millions 5.4% 216.1 176.8 153.7 150.0 265.3 264.9 250.0 19.8 18.5 17.2 17.8 15.8 15.6 12.7 10.6 7.2 2013 2014 ABSORPTION 2015 2016 2017 YTD DELIVERIES 7.00 6.50 6.00 5.50 5.00 4.50 4.00 3.50 3.00 2013 2014 Vacancy Rate 2015 2016 2017 2.50 Rental Rate 5.38 AVERAGE RENTAL RATE 4
DFW INDUSTRIAL MARKET OVERVIEW CURRENT STATS OVERALL DFW MARKET Years Overall SF Vacancy Rate Absorption (SF) Under Construction (SF) 2017 864,478,597 6.5% 10,599,170 22,269,488 2015 820,798,391 7.0% 18,538,656 20,581,854 2016 2014 2013 2012 845,606,269 6.1% 802,075,462 23,451,229 7.3% 786,887,469 12,700,701 7.1% 777,715,492 24,178,228 17,399,649 17,818,159 9.1% 7,790,674 9,746,5569 1,297,543 MID-YEAR 2017 SUBMARKET OVERVIEW Overall SF Vacancy Rate YTD Absorption (SF) Under Construction (SF) Great SW/Arlington Ind 107,456,473 8.4% 1,681,128 4,503,458 North Ft. Worth Ind 89,591,854 6.7% 2,780,007 3,923,548 Submarket South Dallas Ind 94,747,162 10.1% Northwest Dallas Ind 110,152,413 5.4% DFW Airport Ind 73,013,360 NE Dallas/ Garland Ind 115,716,613 South Stemmons Ind 133,947,145 East Dallas Ind 50,418,119 South Ft. Worth Ind 89,435,458 864,478,597 TTL 6.0% 6.8% 6.0% 1,493,616 2,066,840 12 Total SF Under Construction 4,503,458 6,147,195 3,923,548 1,768,873 NE Dallas/ Garland Ind 16 1,969,316 South Stemmons Ind 7 829,040 Great SW/Arlington Ind 11 North Ft. Worth Ind 19 South Dallas Ind Northwest Dallas Ind DFW Airport Ind 12 8 South Ft. Worth Ind 10 Totals 96 East Dallas Ind 5 # Bldgs *Data obtained from Lee Source and CoStar Group 1 (97,634) 2,067,046 835,099 829,040 (131,651) 6.5% Avg. 10,599,170 TTL 4.9% 299,057 Preleased Preleased SF % 2,797,568 62.1% 1,414,658 36.1% 627,500 933,157 10.2% 52.8% 709,138 351,874 22,269,488 TTL Avg. Bldg. Avg. Bldg. Size All Size UC SF Existing SF 59,931 409,405 53,109 512,266 59,609 206,503 53,239 147,406 362,800 18.4% 38,127 123,082 163,854 19.8% 28,283 118,434 1,395,681 709,138 174,974 22,269,488 1,969,316 3.8% 2,067,046 351,874 1,768,873 1,672,708 MID-YEAR 2017 CONSTRUCTION ACTIVITY Market 6,147,195 351,874 8,222,066 67.5% 24.7% 100% 36.9% 80,411 26,351 25,619 40,797 258,381 70,914 351,874 231,974 leedallas.com
DFW INDUSTRIAL 2011 2012 2013 2014 2015 2016 2017 12.70% 9.50% 7.20% 5.80% 5.00% 6.60% 8.40% 3.75 3.92 4.46 4.87 4.52 4.69 4.57 SUBMARKET / MARKET OVERVIEW SORPTION IVERIES 2011 1,362,020 40,000 2012 2,634,369 16,320 2013 2,593,636 876,332 2014 4,153,625 3,125,755 2015 2,771,070 1,720,937 2016 1,857,396 4,211,036 2017 YTD 1,681,128 3,963,612 Millions GREAT SW / ARLINGTON Chart Title 6 5 4.21 4.15 4 3.13 3 2.63 2.59 1.72 ORPTION VERIES 6.00 5.50 5.00 1.86 4.50 4.00 4% 1.68 3.50 2% 3.00 0% 16K 2011 2012 2013 2014 2015 2016 2017 2.50 8.4% VACANCY RATE 4.57 AVERAGE RENTAL RATE Vacancy Rate Rental Rate Vacancy Rate Rental Rate 2011 11.50% 3.22 2012 5.70% was 3.36 Through half of 2017 alone, GSW has delivered 95% of what delivered all of 2016. GSW has become oversupplied, which 2013 5.30%until 3.39 in turn will cause construction starts to continue to decrease more product is absorbed 2014 8.00% 3.57 While over 1.3 million square feet of inventory was delivered this quarter, over 1.3 million square feet was also absorbed 2011 2012 2013 2014 2015 2016 2017 YTD 2015 8.30% 3.59 2,153,484 3,076,970 1,204,076high 2,067,387 5,360,173for 5,929,494 1,493,616 Due to the apparent demand this centralized location, we have seen a minor 0.06 increase of the average rate up to 2016 7.80% 3.97 1,027,000 1,340,540 1,188,378 4,412,125 6,352,325 6,261,686 4,035,461 4.57/square foot in Q2 2017 10.10% 3.77 2011 2012 2013 2014 ABSORPTION 6.50 6% 876K 40K 12% 10% 3.96 2.77 1.36 0 7.00 8% 2 1 14% 2015 2016 2017 YTD DELIVERIES Millions SOUTH DALLAS Chart Title 7 6.35 6 6.26 5.93 5.36 5 4.41 4.04 - 1.49 1.20 1.19 2012 5.00 4.50 2013 ABSORPTION 4.00 2014 2015 2016 3.50 2% 0% 2011 5.50 4% 2.07 1.03 1 6.00 6% 2.15 1.34 6.50 8% 3.08 2 7.00 12% 10% 4 3 14% 3.00 2011 2012 2017 YTD 2013 2014 Vacancy Rate DELIVERIES 2015 2016 2017 2.50 10.1% VACANCY RATE 3.77 AVERAGE RENTAL RATE Rental Rate The South Dallas Industrial market is continuing to trend at aRate higher Vacancy Rental Ratevacancy rate than other DFW markets with a year to date absorption rate of just under 1.5 million square feet2011 of existing inventory 10.30% building 4.02 2011to date 2012 deliveries 2013 2014Q2 account 2015 2016 2017 YTD 2012 Year for for 4 million square8.10% feet of4.35 existing building inventory 6.80% 5.40 ORPTION 1,186,278 2,086,638 1,934,567 1,806,013 6,671,641 2,780,007 2013 Current construction activity in(105,409) the South Dallas Market for Q2 dominates the market at 6.14 million square feet with 627,500 VERIES 76,571 495,591 1,161,942 3,306,753 2,488,892 4,453,232 1,623,136 2014 7.80% 4.93 square feet of pre-leased building space 2015 9.90% 4.45 2016 2017 Millions NORTH FORT WORTH 7.30% 6.70% 4.57 4.74 8 6.67 7 6 5 4.45 4 3.31 3 2 1 0 -1 2.09 1.19 76K 1.93 1.81 1.62 1.16 495K 2012 2013 2014 ABSORPTION 2015 6.50 12% 6.00 2016 5.50 5.00 8% 4.50 6% 4.00 4% 3.50 2% 3.00 0% -105K 2011 7.00 14% 10% 2.78 2.49 16% 2017 YTD DELIVERIES 2011 2012 2013 2014 Vacancy Rate 2015 2016 2017 2.50 6.7% VACANCY RATE 4.74 AVERAGE RENTAL RATE Rental Rate North Fort Worth has led the market with nearly 2.8 million square feet of net absorption as of July 2017 Currently, there is 3.9 million square feet of product under construction with 1.1 million square feet of that being pre-leased Johnson Development, Scannell and Ridge Development all have buildings about to commence construction which will add an additional 980,000 square feet to the market leedallas.com *Data obtained from Lee Source and CoStar Group 6
DFW INDUSTRIAL Vacancy Rate 12.30% 10.20% 8.10% 8.10% 6.00% 7.00% 5.40% Rental Rate 4.76 5.12 5.74 5.91 5.72 6.28 6.22 SUBMARKET / MARKET OVERVIEW SORPTION LIVERIES 2011 2011 2012 2013 2014 2015 2016 2017 YTD 2012 1,667,173 3,054,706 2,963,363 1,411,440 3,813,077 3,199,562 2,066,840 2013 383,740 9508.00 963,745 2,119,404 2,787,602 2,234,187 1,675,741 2014 2015 2016 2017 Millions NORTHWEST DALLAS 4.50 3.81 4.00 3.50 3.05 3.00 3.20 2.96 2.00 1.67 2.07 5.00 4.50 4.00 4% 3.50 2% 383K 0.50 5.50 6% 963K 1.00 6.00 8% 1.68 1.41 1.50 0.00 2.23 2.12 6.50 12% 10% 2.79 2.50 14% 2011 3.00 0% 9K 2012 2013 2014 ABSORPTION 2015 2016 2011 2017 YTD 2012 2013 2014 2015 Vacancy Rate DELIVERIES 2016 2.50 2017 5.4% VACANCY RATE 6.22 AVERAGE RENTAL RATE Rental Rate Very limited available space over 100,000 square feet Vacancy continues to decrease while rates remain consistent 2011 2012 2013 2014 2015 2016 2017 YTD New retail, multi,1,705,824 and single-family SORPTION 1,024,058 (337,743) 2,563,776 2,675,147development 1,904,849 1,672,708started along the southern part of Valwood Industrial Park IVERIES 312,455 130,617 365,023 612,165 665,871 544,175 2,354,570 Millions NORTHEAST DALLAS 3 2.68 2.56 274K 2.5 2 1.90 1.71 1.67 1.5 1 6.50 12% 6.00 5.50 10% 5.00 312K 310K 365K 130K 0 2011 2013 ABSORPTION 2014 2015 2016 4.00 4% 3.50 2% 3.00 0% -337K 2012 4.50 6% 665K 612K -0.5 7.00 14% 8% 1.02 0.5 16% 2011 2012 2013 2017 YTD 2014 Vacancy Rate 2015 2016 2017 2.50 6.0% VACANCY RATE 5.97 AVERAGE RENTAL RATE Rental Rate DELIVERIES Northeast Dallas experienced 1,497,645 square feet ofVacancy positive absorption in Q2 2017 - the highest quarterly absorption the Rate Rental Rate submarket has seen years2016 2017 YTD 2011 2011 2012 2013 in over 2014 nine 2015 10.90% 4.38 ORPTION 2,920,314 424,430 2,976,178 1,875,403 1,119,052 2,127,405 (97,634) 2012 11.20% 4.71 Vacancy rates dropped from 6.3% in Q1 2017 to 6.0% in Q2 2017 IVERIES 28,417 85,500 1,897,500 1,634,694 2,361,966 1,072,478 1,155,470 2013 7.70% 5.40 Currently there is over 1.5 million square feet under construction in Northeast Dallas and more coming soon 2014 2015 2016 2017 Millions DFW AIRPORT 3.5 3 2.36 2.5 1.90 2 2.13 7.00 6.50 6.00 8% 5.50 1.63 1.12 1.16 1.07 1 5.00 6% 4.50 4% 4.00 424K 0.5 -0.5 5.91 5.73 5.64 5.48 10% 1.88 1.5 0 12% 2.98 2.92 5.90% 9.00% 6.50% 6.80% 28K 97K 2011 2012 3.50 2% 85K 2013 ABSORPTION 2014 2015 2016 DELIVERIES 2017 YTD 0% 3.00 2011 2012 2013 2014 Vacancy Rate 2015 2016 2017 2.50 6.8% VACANCY RATE 5.48 AVERAGE RENTAL RATE Rental Rate Vacancy has increased slightly from 5.5% in Q1 to 6.8% in Q2 Rental Rates have ticked up slightly from 5.48 in Q1 to 5.62 in Q2. Construction has remained constant with over 2,000,000 square feet currently under construction within this submarket, however, absorption declined slightly (97,634 square feet) 7 *Data obtained from Lee Source and CoStar Group leedallas.com
DFW INDUSTRIAL Vacancy Rate Rental Rate 8.40% 4.16 8.70% 4.44 6.60% 4.74 8.70% 5.03 7.30% 5.74 6.40% 6.75 6.00% 6.50 SUBMARKET / MARKET OVERVIEW ORPTION VERIES 2011 1,189,850 8,900 2012 2013 (679,037) 2,151,513 15,640 302,331 2014 2015 (906,998) 2,355,510 367,661 623,771 2016 672,239 570,125 Millions SOUTH STEMMONS 3 2.5 2011 2017 YTD 2012 835,099 2013 527,741 2014 2015 2016 2017 14% 2.36 2.15 1.19 623K 367K 302K 0.5 672K 570K 835K 527K 15K 8K 2011 5.00 6% 4.50 4.00 3.50 2% -679K -1 5.50 8% 4% -0.5 -1.5 6.00 10% 1 0 6.50 12% 2 1.5 7.00 -906K 2012 2013 0% 2014 ABSORPTION 2015 2016 2017 YTD 3.00 2011 2012 2013 2014 2015 Vacancy Rate DELIVERIES 2016 2017 2.50 6.0% VACANCY RATE 6.50 AVERAGE RENTAL RATE Rental Rate Quoted rental rates increased from 6.15 in Q1 to 6.50 in Q2 Vacancy RatetoRental Rate square feet in Q2 (1 building) Delivered product went from 518,241 square feet (1 building) 9,500 2011 5.80% 3.82 Vacancy rates fell from 6.3% in Q1 to 6.0% in Q2 ORPTION VERIES 2011 (43,824) 21208 2012 1,094,969 36,800 2013 1,373,182 41,207 2014 (432,003) 249,581 2015 267,854 182,950 2016 1,461,305 419,119 2017 YTD (131,651) 252,250 Millions SOUTH FORT WORTH 2012 2013 2014 2015 2016 2017 3 1.46 1.37 2 670.00% 4.50% 4.90% 4.80% 3.50% 3.80% 3.97 4.31 4.41 4.77 4.88 5.71 10% 7.00 9% 6.50 8% 6.00 7% 1.09 5.50 6% 1 21K 249K 41K 36K 267K 182K 419K -43K 4.50 4% 4.00 3% -131K -1 5.00 5% 252K -432K 2% 3.50 1% 3.00 0% -2 2011 2012 2013 2014 ABSORPTION 2015 2016 2011 2017 YTD 2012 2013 2014 Vacancy Rate DELIVERIES 2015 2016 2017 2.50 3.8% VACANCY RATE 5.71 AVERAGE RENTAL RATE Rental Rate Square feet rebounded nicely from the first quarter’s negative absorption, getting back in the black - though the total absorbed space of 71,000 square feet was the lowest since the first quarter of 2016 2011 2012 2013 2014Fort Worth 2015 2016the2017 YTD Average vacancy in South for trailing four quarters was approximately 3.6%, by far the tightest submarket by ORPTION 621,493 581,205 915,820 162,058 282,182 (372,662) 299,057 nearly 02%123,585 of total398,162 vacancy. - the next0 closest VERIES 16,248 30,755 being0 Northeast Dallas. It is attributable to the low total square feet of current under construction buildings in South Fort Worth of 709,000 square feet, the second lowest total in the entire DFW metroplex Thousands EAST DALLAS 1000 916 800 600 621 581 398 400 200 0 299 282 162 124 16 0 0 31 0 -200 -400 -600 (373) 2011 2012 2013 ABSORPTION 2014 2015 2016 10% 7.50 9% 7.00 8% 6.50 7% 6.00 6% 5.50 5% 5.00 4% 4.50 3% 4.00 2% 3.50 1% 3.00 0% 2017 YTD DELIVERIES 2011 2012 2013 2014 Vacancy Rate 2015 2016 2017 2.50 4.9% VACANCY RATE 4.31 AVERAGE RENTAL RATE Rental Rate The East Dallas submarket saw positive absorption of 343,789 square feet in Q2 2017 - the first time the submarket experienced positive absorption since Q3 2016 Vacancy rates dropped to 4.9% in Q2 2017, which is the lowest they have been since they were 4.8% in Q4 2015 There is currently no spec development in East Dallas but the area has seen notable future expansions. leedallas.com *Data obtained from Lee Source and CoStar Group 8
DFW INDUSTRIAL SUBMARKET MAP Melissa 380 380 Cross Roads 380 Princeton 5 Shady Shores 77 New Hope 380 McKinney Oak Point Little Elm 546 399 423 Frisco 75 Corinth35E 982 Fairview NORTHWEST DALLAS IND 110,152,413 SF 380 Lowry Crossing 546 77 121 The Colony Highland Village 1170 35W Parker Lewisville 35E 287 Haslet 170 Fort Worth Alliance Airport 377 Bus 26 287 Colleyville 377 Blue Mound 121 North Richland Hills 820 Richardson 35E Garland 78 12 12 114 183 SOUTH STEMMONS IND 133,947,145 SF 354 Irving 360 35W Trinity River Greenbelt Park 121 30 280 Grand Prairie 820 80 Arlington EAST DALLAS IND 50,418,119 SF Lake Arlington 820 Edgecliff Mesquite Cockrell Hill Rochester Park 360 20 20 Mountain Creek Lake Park 35W Kennedale 20 Burleson 175 45 Duncanville 157 Bus 287 20 Hutchins *Data obtained from Lee Source and CoStar Group Seagoville 342 Cedar Hill State Park DeSoto Cedar Hill Mansfield Balch Springs 635 408 287 1187 Crowley 1187 175 20 Forest Hill Sunnyvale 77 81 Everman Benbrook Lake 9 67 12 183 Heath 67 352 180 12 635 12 30 303 1187 White Rock Lake Park White Rock Lake DALLAS 30 30 75 Highland Park 77 GREAT SW ARLINGTON IND 107,456,473 SF SOUTH FT. WORTH IND 89,435,458 SF SOUTH DALLAS IND 94,747,162 SF Benbrook 67 30 244 University Park Dallas Love Field 183 Euless Pantego 377 Fate Mobile City 66 Rowlett Dallas / Fort Worth International Airport 161 Haltom Richland Hills City Sansom Park River 199 Oaks Westworth Fort Worth Westover Hills Rockwall 66 635 35E White Settlement 820 Farmers Branch 190 26 Hurst Bedford Wildwood Park Addison Airport Watauga Saginaw Lake Worth Sachse Addison 97 360 544 78 Carrollton North Lake Grapevine North Lake Park Keller 35W 77 Coppell DFW AIRPORT IND 73,013,360 SF NORTH FT. WORTH IND 89,591,854 SF 287 121 Nevada Lavon Wylie Murphy 75 114 Southlake Plano 544 St Paul 190 Meadowmer Park 156 1220 Hebron 2499 Westlake Lucas NE DALLAS / GARLAND IND 115,716,613 SF 121 Flower Mound Marshall Creek Trophy Roanoke Club Allen 67 77 Lancaster 1382 Wilmer 35E leedallas.com
SELECT LEE & ASSOCIATES LISTINGS FOR SALE / LEASE FOR LEASE FOR LEASE FOR LEASE 2700 S. Millers Ferry Road Wilmer, TX 5180 N. Railhead Road Fort Worth, TX 2525 S. Shiloh Road Garland, TX 514 Bennett Lane Lewisville, TX Available Space: Lease Rate: Sales Price: 424,280 SF 3.75 NNN 62 PSF Property Description: BTS office, 36’ clear height, 119 DH doors, 4 ramped doors, ESFR Available Space: Lease Rate: 362,670 SF Negotiable Property Description: Divisible, 33’ clear height, 53 DH doors, 2 ramped doors, ESFR Available Space: Lease Rate: 86,240 SF 3.65 NNN Property Description: 22’-26’ clear height, fenced outdoor storage area Available Space: Lease Rate: 165,705 SF Negotiable Property Description: Move-in ready, 32’ minimum clear height, 28 DH doors, 1 DI door, 32 trailer parks, ESFR FOR LEASE FOR LEASE FOR LEASE FOR LEASE 4800 N. Sylvania Road Fort Worth, TX 313 N. Great Southwest Parkway Arlington, TX 4395 Diplomacy Road Fort Worth, TX 1000 Garden Ridge Boulevard Flower Mound, TX Available Space: Lease Rate: 164,721 SF 4.05 NNN Property Description: Divisible to 85,360 SF, 36’ clear height, 30 DH doors, 2 DI doors, ESFR, 82 trailer parking spaces Available Space: Lease Rate: 128,024 SF Negotiable Property Description: Divisible to 68,640 SF, 30’ clear height, up to 30 dock doors, 119 car parks, ESFR Available Space: Lease Rate: 65,814 SF Negotiable Property Description: 9,845 SF office, 24’ clear height, 9 DH with levelers, 1 ramped door, 100% HVAC Available Space: Lease Rate: 51,420 SF 6.75 NNN Property Description: Divisible to 18,000 SF, BTS office, 24’ clear height, 16 DH doors, 1 DI door, ESFR FOR LEASE FOR SALE FOR LEASE FOR LEASE 1800 Jay Ell Drive Richardson, TX 1300 Crampton Street Dallas, TX 1536 Hutton Drive Carrollton, TX 2933 Eisenhower Street Carrollton, TX Available Space: Lease Rate: 40,000 SF 4.95 NNN Property Description: 8,813 SF of office, 25’ clear height, 4 DH doors with levelers, 1 acre of outside storage leedallas.com Available Space: Sale Price: 39,900 SF Negotiable Property Description: 6,000 SF of office, 16’ clear height, 4 DH doors, 50 car parks, recently renovated showroom Available Space: Lease Rate: 22,000 SF 5.50 NNN Property Description: 2,657 SF of office, 30’ clear height, 2 DH doors, 2 DI ramps, front-load building, ESFR Available Space: Lease Rate: 18,596 SF 6.25 NNN Property Description: 1,724 SF of office, 24’ clear height, 6 DH doors with edge of dock levelers, Class A, ESFR 10
LEE & ASSOCIATES TEAM 56 Offices Nationwide NATIONAL PRESENCE. Founded in 1979, Lee & Associates has achieved consistent growth and profitability, handling more than 200,000 real estate transactions nationwide. 836 At Lee & Associates our reach is national but our expertise is local market implementation. This translates into seamless, consistent execution and value driven market-to-market services. Real Estate Agents 12 Billion Annual Transaction Volume LOCAL EXPERTISE. As your real estate partner, we offer every aspect of real estate services and the necessary expertise to successfully implement any type of commercial real estate project. Tom Walrich Principal Mark Graybill Reid Bassinger Adam Graham Principal Principal Principal Reed Parker Director Rob Miller Director Becky Thompson Director Ken Wesson Nathan Denton Principal Principal Principal SIOR SIOR, CCIM George Tanghongs SIOR, CCIM Principal Brett Lewis Principal Corbin Blount Associate 11 SIOR Trey Fricke Colton Rhodes Associate Taylor Stell Associate SIOR, CCIM Stephen Williamson Associate SIOR Phillip Rosenfeld Director Andrew Harris Associate SIOR, CCIM Matthew Thompson Director Christine Vasily Associate leedallas.com
15455 Dallas Parkway, Suite 400 Addison, TX 75001 972.934.4000 LeeDallas.com
Quaker Oats/Pepsi Co 518,241 S Stemmons Ind FedEx (R) 110,880S Cen. Tarrant Cnty Ind Lasko Products, Inc. (R) 505,000 Meacham Fld/ Fossil Cr Ind Signature Global Logistics 109,141E DFW Air/ Las Colinas Ind S&S Activewear, LLC 492,322 N Ft Worth Ind Ox Paperboard 103,889Upper Great Southwest Ind
PSI AP Physics 1 Name_ Multiple Choice 1. Two&sound&sources&S 1∧&S p;Hz&and250&Hz.&Whenwe& esult&is:& (A) great&&&&&(C)&The&same&&&&&
The program, which was designed to push sales of Goodyear Aquatred tires, was targeted at sales associates and managers at 900 company-owned stores and service centers, which were divided into two equal groups of nearly identical performance. For every 12 tires they sold, one group received cash rewards and the other received
Argilla Almond&David Arrivederci&ragazzi Malle&L. Artemis&Fowl ColferD. Ascoltail&mio&cuore Pitzorno&B. ASSASSINATION Sgardoli&G. Auschwitzero&il&numero&220545 AveyD. di&mare Salgari&E. Avventurain&Egitto Pederiali&G. Avventure&di&storie AA.&VV. Baby&sitter&blues Murail&Marie]Aude Bambini&di&farina FineAnna
College"Physics" Student"Solutions"Manual" Chapter"6" " 50" " 728 rev s 728 rpm 1 min 60 s 2 rad 1 rev 76.2 rad s 1 rev 2 rad , π ω π " 6.2 CENTRIPETAL ACCELERATION 18." Verify&that ntrifuge&is&about 0.50&km/s,∧&Earth&in&its& orbit is&about p;linear&speed&of&a .
theJazz&Band”∧&answer& musical&questions.&Click&on&Band .
6" syl 4" syl 12" swgl @ 45 & 5' o.c. 12" swchl 6" swl r1-1 ma-d1-6a 4" syl 4" syl 2' 2' r3-5r r4-7 r&d 14.7' 13' cw open w11-15 w16-9p ma-d1-7d 12' 2' w4-3 moonwalks abb r&d r&d r&d r&d r&d r&d ret ret r&d r&d r&d r&d r&d 12' 24' r&d ma-d1-7a ma-d1-7b ret r&d r&d r5-1 r3-2 r&d r&r(b.o.) r6-1r r3-2 m4-5 m1-1 (i-195) m1-1 (i-495) m6-2l om1-1 .
Spencer Davis . 8 Travis Day Ehsan Daya Erica De Guzman Julia de la Rosa Kian Delaney . Theodore Lee Yujin Lee Amanda Lee Isaiah Lee Eugene Lee Isaac Lee Angie Lee Andrew Lee . Yat Fung Larry Li Junjian Li Xiaoyu
s& . o Look at the poem’s first and last lines (first and last lines may give readers important . it is important to read poems four times. Remind them that the first time they read is for enjoyment; rereads allow them to dive deeper into poems .
