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Commercial Real Estate News

Dallas/Ft. Worth Commercial Real Estate News From CoStar Group

Whitestone REIT (NYSE: WSR) is set to expand its holdings in Texas after the Houston-based pure-play community-centered retail REIT entered into agreements to acquire two shopping centers located in suburban Dallas and Houston in separate transactions for an aggregate purchase price of $204.6 million, or approximately $467 per square foot. Located roughly 30 miles north of downtown Dallas, the 221,577-square-foot Eldorado Plaza was constructed...

4/24/2017 1:54:56 AM

Atlanta-based multifamily real estate investment firm CF Real Estate Services tapped Tom Lamberth to head up operations in Texas and Louisiana as a regional partner. Additionally, Lamberth will work to identify and act on select expansion initiatives in the Southwest U.S. The specifics of Lamberth's new role will entail expanding the company's development, acquisitions and third party property management service lines in Texas, Louisiana and the...

4/23/2017 7:34:41 PM

Heavy equipment manufacturer Caterpillar Inc. (NYSE: CAT) announced Wednesday it will relocate to Chicago's suburbs, opting to move its global headquarters to the northern Chicago suburb of Deerfield over several downtown options after more than 90 years being based in the heart of the state in Peoria, IL. Caterpillar reached a multi-year lease agreement with Corporate 500 Centre, a four-building office campus on Lake Park Road totaling 700,000...

4/23/2017 7:00:00 PM

It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: Philadelphia, South Florida, Houston, Atlanta, Dallas / Ft. Worth, East Bay, Orange County, Northern New Jersey, Jacksonville, Detroit / Grand Rapids, Chicago, Tampa / St. Petersburg, Southern California, New York, Florida, Texas and more! PHILADELPHIA Keystone Properties...

4/20/2017 11:48:25 PM

Blackstone’s non-traded REIT, Blackstone Real Estate Income Trust, this week added another portfolio to its growing property stockpile. The REIT's latest acquisition is a six million-square-foot portfolio of predominantly infill industrial assets it purchased from affiliates of High Street Realty Co. $402 million. The portfolio is 97% leased to over 90 tenants and consists of 38 industrial properties totaling 5.97 million square feet. The properties...

4/20/2017 5:14:23 AM

In its second large property disposition this spring, TA Realty LLC sold a six-property, 2,514-unit multifamily portfolio to Blackstone Real Estate Income Trust for $430 million. TA Realty sold the portfolio on behalf of The Realty Associates Fund IX LP. Earlier this month, TA Realty sold a 45-property industrial and office portfolio from the fund to Brookfield-managed real estate funds for $854.5 million. Realty Associates Fund IX was formed...

4/18/2017 8:02:44 PM

Coldwell Banker Commercial Advisors (CBCA) expanded its data center platform in Dallas/Fort Worth with the hiring of Ryan Crabtree as a vice president. Crabtree will identify niche data center properties nationwide for investors and users in the Greater Dallas metroplex. He will also assist with office leasing. "We will be tapping into a secondary market as we search nationwide for existing commercial properties that can be converted into data...

4/17/2017 11:23:26 PM

TEP Barnett USA, an oil and gas exploration and production company, subleased 20,752 square feet on the 37th floor at 777 Main St. in downtown Fort Worth, TX. The 40-story building tower 1,025,260 square feet and was built in 1982. Erik Blais and Nick Talley of Bradford Commercial represented the sublandlord, Trinity River Energy, in negotiations.

4/18/2017 6:42:15 AM

Henry Schein Inc., a global distributor of healthcare products and services, has leased 25,599 square feet of office space at Park Springs Place in Arlington, TX. The four-story office building delivered in 1986 at 4025 Woodland Park Blvd. just off W. Pioneer Pky. in the Arlington/Mansfield submarket. It totals 88,186 square feet and was acquired by Cedar Rapids, IA-based AEGON USA Realty Advisors in 2014. Harry Schein lease includes the entire...

4/16/2017 7:51:22 PM

It appears Starwood Capital Group may be switching horses in its homebuilding investment business after community and mixed-use developer Forestar Group Inc. agreed to be acquired by affiliates of Starwood Capital in a $605 million deal. The transaction price of $14.25 for each share of Forestar represents an 8.2% premium to the 90-day volume weighted average price of common stock of the company. Forestar is a residential and mixed-use real...

4/17/2017 5:39:06 AM

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Beware of ‘Gotchas’ in Home Warranties

News Release No. 60, August 2005
By David S. Jones

According to the Gallup Poll, 79 percent of buyers and sellers rate home warranties as one of the most important considerations when buying a home. Home warranties are the fourth most important factor behind location, design and financing options.

But just because you have a home warranty doesn’t mean you have adequate protection. I know this will come as a shock, but all home warranties are not created equal.

The folks at collect both good and bad experiences on home warranties. Their goal is to educate consumers about the need for home warranties, how to pick the right company and warn consumers of the pitfalls. This column focuses on the latter.  Keep in mind that this list is based on opinions and experiences sent in by consumers rather than any scientific data or research.

The number one gotcha to watch out for is a big one for Texans — the air conditioner. While a bad wire may be covered, cleaning the coils is normally a standard maintenance item and not covered. And once the technician reports the dirty coils, your home warranty company may exclude all future air conditioning claims because you haven’t been taking good care of your equipment. Annual maintenance contracts are a way around this gotcha.

Keep in mind that pre-existing conditions are not covered by a home warranty. Therefore, it’s a good idea to have a professional check the air conditioning before you buy to rule out the possibility of a pre-existing problem.

A bad inspector, however, can cost you thousands in gotchas. It helps if the inspector has the warranty contract in hand when he does the inspection. Special attention needs to be given areas that require routine maintenance. The more detail you get in the report, the better. Ask for photos. And ask the seller to repair or replace anything that is excluded in the warranty or may be deemed a pre-existing condition.

Rust and corrosion also are potential trouble areas. Because they are common problems, rust and corrosion are excluded for the first 30 days of most home warranty plans.  Some exclude them altogether. This could mean trouble for getting your garbage disposal or hot water heater repaired.

If you examine a home warranty carefully, you are likely to discover that it does not pay a claim unless you call the warranty company before you have the problem fixed. One of the biggest gotchas occurs when you call in a home warranty claim. What you tell the person who answers the 800 number is important because it determines whether or not the problem is covered by the warranty.

What you tell the customer service representative is logged into the computer for reference to the current and future calls. If there’s any doubt, you may be told the broken item is “not covered.” Always be nice and professional when talking to the home warranty folks on the telephone. Keeping your cool nearly always gets better results.

There are many gotchas inherent to home warranties. The service technician answering your call may misdiagnose the problem. The warranty may have payout limits. Multiple items may be covered only at an additional cost. Refrigerators located outside the kitchen usually are not covered. Anything associated with a commercial purpose probably isn’t covered. Mold is not covered. You get the idea.

How do you avoid the gotchas with a home warranty? Do your homework. The best defense is to read the fine print.  




Our Real Estate Office Wins Prestigious Award

  The CENTURY 21 office of Mike Bowman was recently recognized for outstanding achievements for 2004 by the world’s largest franchiser in the world. CENTURY 21 Real Estate Corporation.

Based on production, this office achieved the rank of No. 1 in Texas and NO. 2 in the worldwide CENTURY 21 system. WIth more than 35 years of unsurpassed service to the Fort Worth-Dallas community, CENTURY 21 Mike Bowman, Inc. continues to be a top leader in sales production, customer service and unmatched technology.

“As a company, our goals is to provide our clients with knowledge and advice related to their real estate transaction and to offer them peace of mind and confidence during what maybe the most significant purchase of a lifetime,” said Bowman.

Awards received at the CENTURY 21 International Convention included the coveted Grand Centurion Office award. Quality Service Pinnacle award and the President’s award.

“The stellar performance of the sales associates, management team and staff is a testament to the significance of service and peace of mind afforded our clients,” said Bowman. “Their commitments and concentrated efforts made these accomplishments possible.”

The Grand Centurion award was presented to CENTURY 21 Mike Bowman, Inc., successfully closing 3,923 transactions.

“The level of success that CENTURY 21 Mike Bowman, Inc., has achieved truly exemplifies the professional excellence and commitment to service that the CENTURY 21 system as forged its reputation on,” said Thomas R. Kunz, president and chief executive officer of CENTURY 21 Real Estate Corporation.

The 155 career sales associates of CENTURY 21 Mike Bowman, Inc., are dedicated to maintaining the highest level of customer service. This dedication was acknowledged by CENTURY 21 International by honoring the office with the coveted Quality Service Pinnacle award. Each client is e-mailed a Quality Service Survey immediately after the purchase or sale of a home through CENTURY 21 Mike Bomwan, Inc. To earn the Quality Service Pinnacle award, an office must receive an average survey score of at least 95 percent over the past two years. The President’s award was given to 160 recipents out of more than 76,600 offices.
“ It is truly an honor to receive this award that exemplifies our associates outstanding sales production and total commitment to quality service,” said Jeane Dees, senior vice president.
This annual award is presented to CENTURY 21 System offices that achieve the CENTURY 21 Centurion award and the CENTURY 21 Quality Service Pinnacle award in the same award year.

“We are thrilled to recongize the work of CENTURY 21 Mike Bowman, Inc. for their momentous achivements,” said Kunz.

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