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

Several top firms and real estate brokers in Dallas/Ft. Worth are among the winners of the annual CoStar Power Broker Awards. Now in its 16th year, the awards recognize those who perform at the highest levels in commercial real estate brokerage. Every year, CoStar's research team verifies and records the commercial real estate sales and lease transactions that closed during the previous year. From that information, CoStar presents CoStar Power...

3/24/2017 2:32:00 AM

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: Washington DC, Minneapolis, New York City, Los Angeles, Austin, San Diego, Tampa / St. Petersburg, Atlanta, Baltimore, Boston, Charlotte, Toronto, Raleigh / Durham, Phoenix / Tucson, Chicago, San Antonio and South Florida. WASHINGTON DC Madison Marquette Hires Former...

3/24/2017 2:00:00 AM

BBG, a Dallas-based commercial real estate valuation and advisory firm, has launched a plan to expand aggressively within California with the acquisition of Abergel & Associates, a commercial appraisal firm in Los Angeles. The six-member team at Abergel & Associates founded by namesake and CEO Michael Abergel now becomes the Los Angeles office of BBG, one of the largest real-estate valuation and assessment firms in the U.S. with more than 20 offices...

3/23/2017 11:34:00 PM

An affiliate of Starwood Capital Group agreed to sweeten its offer to take Milestone Apartments Real Estate Investment Trust private through a cash-for-stock transaction. Under the revised bid announced in a joint release by the two companies, Milestone Apartments REIT unitholders will receive 10 cents more per trust unit than Starwood's original cash-for-stock offer valuing Milestone at $2.85 billion, including debt, that was announced on Jan...

3/21/2017 9:40:17 PM

Developer Mehrdad Moayedi has formally begun construction of Mercer Crossing, a massive $1 billion mixed-use development in Farmers Branch, TX, about 14 miles northwest of Dallas. Moayedi's Centurion American Development Group is building the project comprised of 800 single-family homes, 2,250 apartment units, a 48-acre office park, restaurants, stores and entertainment and a boutique hotel. The development will also include an amphitheater and...

3/20/2017 10:28:07 PM

Dallas-based Stream Realty Partners has completed construction on the corporate headquarters and main manufacturing hub of national tea and coffee roaster, supplier and distributor, Farmer Brothers (NYSE: FARM). The Wells Fargo-owned facility broke ground last January on a 27.5-acre site along I-35W and across from the Texas Motor Speedway at 13601 North Fwy. in Fort Worth's Northlake area. Totaling 539,448 square feet, the +$90 million complex...

3/20/2017 9:34:14 PM

After only three years of ownership, Miami Lakes, FL-based commercial real estate and multifamily owner and operator The Kislak Organization has elected to sell the Three60 North community in Grand Prairie, TX to Dallas-based Devonshire Real Estate and Asset Management. Terms of the deal were not disclosed. Three60 North was built in 1984 on a 15.5-acre site just northwest of the I-30/Hwy. 360 intersection at 1450 N. State Hwy. 360 in the Outer...

3/20/2017 7:09:01 PM

J.P. Morgan Asset Management locked up a new anchor tenant at the company's Trammell Crow Center in downtown Dallas with the signing of Goldman Sachs to a 170,000-square-foot lease. Goldman Sachs (NYSE: GS) is scheduled to relocate by Q1 2018 from its office campus in Las Colinas to the 1.15 million-square-foot, 50-story high-rise located at 2001 Ross Ave. in Dallas' central business district. The lease coincides with J.P. Morgan and property...

3/19/2017 7:00:00 PM

Dallas-based full-service real estate firm Gaedeke Group has completed its sale of Banner Place to Dallas-based investment firm, JP Realty Partners. Terms of the deal were not disclosed. Banner Place is a two-building office complex located at 12660-12770 Coit Rd. in the East LBJ Freeway submarket. The North building totals 258,493 square feet over 12 stories and is anchored by Munck Wilson Mandala, while the South building totals 27,018 square...

3/15/2017 8:17:32 PM

J.P. Morgan Asset Management locked up a new anchor tenant at the company's Trammell Crow Center in downtown Dallas with the signing of Goldman Sachs to a 170,000-square-foot lease. Goldman Sachs (NYSE: GS) is scheduled to relocate by Q1 2018 from its office campus in Las Colinas to the 1.15 million-square-foot, 50-story high-rise located at 2001 Ross Ave. in Dallas' central business district. The lease coincides with J.P. Morgan and property...

3/14/2017 8:52:32 PM

Our Corporate Offices in Grapevine

 

Our Relocation Offices in Southlake

 


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 www.homewarrantyexperts.com 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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