The CBRE Group reported that the rate of warehouse and distribution center development in the Dallas area was above the national rate in 2016. The senior vice president of CBRE’s Dallas branch noted that “within a half day’s drive, a truck can serve three of the 10 largest U.S. cities and a combined population of over 25 million people.”
These reasons are among a few that could explain the rapid growth rate of commercial real estate development in and around the Dallas area. If you’re thinking of seizing the opportunity by buying, selling, or developing a property, remember that having an attorney on your side can actually benefit both parties involved.
Growth planning is of primary importance in a municipality’s decision to agree upon a commercial property’s use. A district has to ensure that the property fits with the general perspective of the community. There should be no significant changes or negative impacts resulting from your commercial real estate property development.
Having an attorney construct, manage, and enforce a commercial development agreement can make your deal a win-win for both parties. The Law Offices of Thomas H. Keen, PLLC can help facilitate development agreements between municipalities, whether district or state. A well-drafted development agreement can reduce uncertainty for both parties. By going over general impact, land use, and other parameters and potential pitfalls, mutual agreement can be achieved.
Real Capital Analytics ranked Dallas as the 4th top market for property sales in 2016, with total dollar volume at $19.5 billion. In SVN’s 2016 commercial real estate outlook, President & CEO Kevin Maggiacomo analyzed trends in commercial real estate across the country. Some of his most interesting findings included:
Overall, Maggiacomo claimed that the market is not presenting the same risk/return profile observed before the 2007 peak pricing. Cities across the nation are experiencing booms in commercial real estate development and sales, and Dallas is ranked in the top five cities for commercial property sales.
Thomas H. Keen is a lifelong Texan with extensive litigation experience dealing with a variety of civil issues. He has represented local and national banks, insurance companies, and private and public corporations in the state of Texas for more than 30 years. Thomas holds the highest peer ratings from Martindale-Hubbell in areas including quality and ethics. Whether you’re seeking legal representation concerning real estate, business transactions, probate, or wills and trusts, your case will receive Thomas’ personal attention.