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Pegasus

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Posts posted by Pegasus

  1. You're serious? Lmfao!!!

    Downtown Dallas still has an OVER 25% VACANCY RATE. If you aren't good at math that means over 1 in 4 spaces in downtown Dallas are EMPTY.

    "With 26.9 percent of the space empty, downtown Dallas had the highest central business district vacancy among the more than one dozen cities CBRE surveyed."

    http://bizbeatblog.dallasnews.com/2014/03/dallas-office-vacancy-dips-below-18-percent.html/

    The only reason Dallas didn't "build tall" the last 2 decades and are having to focus on rehabbing old properties is because downtown Dallas is in such miserable shape...

    Not to mention the dozens of empty condos in museum tower... This project just seems like a flop from the get go.

    And did you just say dfw is becoming the central logistics hub for North America? Omg this is too funny. Don't like 7 of the 8 busiest rail lines in the country run through CHICAGO??? You guys will never pass them.

    Oh.. Dallas doesn't lead (or take second) at anything. Dfw might..

    This post is an amazing contradiction which begs to question what your real prejudice is. It the article you post, the title of the article alone contradicts your statement of over 25% vacancy rate! "Dallas Office Vacancy Dips Below 18 Percent" is the title of the article.

     

    "With 26.9 percent of the space empty, downtown Dallas had the highest central business district vacancy among the more than one dozen cities CBRE surveyed."

     

    Ok, let's examine this specific quote. When examining a sentence it is good to thoroughly analyze the usage of words. You know, semantics. At first glance this statement alone seems to contradict the entire article. However, be not deceived. Look for key words. The key word here is "had". "...downtown HAD the highest.." "Had". Had is a past tense word. It is not present it is past tense. So this percentage is an old number. 

     

    You do realize that one of the busiest transcontinental rail lines in the US runs straight through DFW, right? And elaborate on what you mean by the 7 of the 8 busiest rail lines. Is that subjective to certain companies? There are only about 5 Class I railroads in the US. Three of which run trains into Dallas: Union Pacific, Burlington Northern Santa Fe and Kansas City Southern. The UP and BNSF being the two largest systems in the US and Canada. The Union Pacific has its massive ship container rail yard in Hutchins and the BNSF is in talks about opening a container rail yard in Dallas as well. Massive growth in population is taking place in Dallas. DFW is the sixth most popular moving destination in the country. That is one of the reasons why there are massive billion dollar upgrades taking place with both Fort Worth and Dallas' freeway networks. The Horseshoe Project and the LBJ expansion as prime examples. Dallas is changing into a world class city. DART is the largest light rail network in the entire United States and there are more plans for its expansion. DART now runs a train straight to DFW. Another major development is the growth of warehousing, another reason why the city is becoming a central logistics hub for the US.Within the U.S., 79 markets can be reached overnight from Dallas/Fort Worth by truck or rail. And the Metroplex puts 

    you right in the geographic center of the North American continent’s four major business centers: New York, Los Angeles, Toronto and Mexico City. The Dallas/Fort Worth Metroplex is one of the largest points of distribution and logistics in the United States and has become the premier supply chain and logistics center for the entire Western Hemisphere. Since the passage of NAFTA, the D/FW Metroplex’s trade to Mexico and Canada has more than doubled to $2.3 Billion. This is in large part due to the fact that the Metroplex has the logistics infrastructure to serve Mexico and its population of more than 100 million people. Interstate 35 - often called the “NAFTA Superhighway” - is the perfect conduit from Mexico through Texas to Canada. DFW International Airport is the third busiest in the U.S. and the sixth busiest in the world. LOL Troll harder Dallas hater.
    • Like 2
  2. I'll just quote SMF's crazy, likely-drug-fueled rants to post my sincere thoughts on this.

    Proposals for new towers and actual new towers under construction are 2 entirely different things. Both Houston & Dallas should know this fact very well from all the skyscrapers that died on the drawing board in Texas during the Oil Bust. And considering oil prices are falling currently, you'd think you'll see jitters instead jubilation (as exhibited by SMF) on these threads...

    Considering the timing and real estate makeup of the DFW area, a rumored proposal for 2 60-story & 2 80-story towers, a project literally the size & scope of the new WTC complex in Lower Manhattan that's taken 15 years to build (and is still not complete), in a central business district with current +%20 vacancy rate doesn't seem very likely to obtain financing necessary to become a reality. And let's not forget this is from a Turkish developer that has a history of failed projects OP even referenced. For me, Perot's Gateway project is the one to watch. But considering the previously stated facts, it doesnt seem likely to leap off the drawing board in the near term without a major tenant signed.

    If I'm wrong and these do become reality, you'll have the Lone Star equivalent of the Miami skyline - empty shells. Considering the lesson being learned there, I don't see that mistake being made by banks or developers a second time, especially in a locale not as attractive as South Beach.

    Wrong. Dallas' vacancy rate is not over 20% as you claim. It has dropped to 18% and leasing has jumped five times what it was last year. Not to mention major corporations are moving to Dallas from left and right. Companies that include Charles Schwab and Toyota. This whole "vacancy" argument you guys keep pulling hasn't the merit it once had. Things are changing. Get over it. Get over yourselves. 

    • Like 1
  3. You're a Dallas booster? It all makes so much sense now..

    How is Houston sitting stagnant? We have over 100 high rises proposed or under construction..

    What the hell is Dallas going to do with 1200 condos downtown? Isn't museum tower sitting like half empty? And if any of it is office space, forget about it! There isn't a need for any of this.. I seriously doubt it will happen. Not unless this guy has billions to throw down the drain.

    Wait.. 3 million square feet of office space??? Lmfao!!! Oh boy. Thanks for the laugh Dallas.

    From the Dallas Morning News: 

    "...And a new report by commercial real estate firm JLL says that the central business district leads the area in net office occupancy gains.

    Expanding and relocating tenants leased about 558,000 square feet of office space downtown through the third quarter of 2014, according to preliminary data from JLL."

    "So far in 2014, net office leasing in the Dallas area totals 1.75 million square feet, according to JLL."

    "Overall office vacancies in the Dallas area have dropped to 19.5 percent, the lowest level in more than a decade."

     

    According to Forbes Dallas is the fourth fastest growing city in the US. Houston is one of the fastest as well. Leading as number 10. 

    I would also like to point out that Dallas, thanks to the DFW airport and the massive Union Pacific railport Dallas is becoming the central logistics hub of the entire North American continent. Massive investment from all over the world is pouring into the city and, instead of building tall in the past two decades, the city did the smart thing and has been renovating and upgrading its current buildings. Dallas is also leading in office job growth as number two behind New York! Suck on that!

    • Like 1
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