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Texas' job growth still outpacing nation's

Fueled by higher oil prices, Texas' pace of job creation accelerated in September 2018.

According to the Real Estate Center's latest Monthly Review of the Texas Economy, the state gained 406,400 nonagricultural jobs from September 2017 to September 2018, an annual growth rate of 3.3 percent, higher than the nation’s employment growth rate of 1.7 percent. The nongovernment sector added 402,500 jobs, an annual growth rate of 3.9 percent, also more than the nation’s employment growth rate of 2 percent in the private sector.

Texas’ seasonally adjusted unemployment rate in September 2018 was 3.8 percent, lower than the 4 percent rate in September 2017. The nation’s rate decreased from 4.2 to 3.7 percent.

All Texas industries except the information industry had more jobs. The mining and logging industry ranked first in job creation followed by construction; professional and business services; leisure and …

DFW Commercial RE Market Update

JPI and Bridgeview Real Estate are developing a $74M, 409-unit multifamily community in Farmers Branch.  Jefferson Alpha West The project has $16M in financing from a partnership between Buchanan Street Partners and CarVal Investors. The new development will rest in Bridgeview Real Estate’s Jefferson Alpha West, a more than 480K SF mixed-use development near the Galleria.   Stan Johnson Co. opened its Dallas office. Chris Adams and Reed Hudson will run the Dallas office. Prior to joining Stan Johnson Co. Adams worked for Marcus & Millichap. Hudson is joining the Dallas branch by way of Stan Johnson Co.’s Houston office. Courtesy of Weitzman 711 Elm SALES A local investment group purchased 711 Elm St. from a Dallas-based limited partnership. The sale includes the five-story building, 137 parking spaces in a multilevel garage and 7,200 SF of street-level retail space. Weitzman’s Matthew Rosenfeld, Mike Allen and Kevin Butkus represented the seller.    Driversselect purchased a 7…

North Texas Home Starts

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Economic Development Statutes & Codes

Following are links to statutes and codes that authorize or regulate Economic Development organizations and activities.Texas Tax Code·Chapter 311: Tax Increment Financing
·Chapter 312: Property Redevelopment and Tax Abatement
·Chapter 313: Economic Development Act – ISD Value Limitations and Credits
oValue Limitation and Tax Credits – Tx Comptroller’s Office
oUnderstanding Chapter 313 – TTARA
·Chapter 351: Municipal Hotel Occupancy Tax
oTHLA – HOT Overview for Municipalities·Section 11.251: Freeport Exemption
·Section 11.253: Goods in Transit Exemption
oFreeport and Goods in Transit Exemptions – Tx Comptroller’s Office
Texas Government Code·Chapter 2256: Public Funds Investment Act
·Chapter 2303: Enterprise Zones
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February Housing Stats - DFW

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SALES 
A local buyer purchased Town Place and Castle Place, a 116-unit apartment portfolio in Dallas Marcus & Millichap’s Al Silva and Ford Braly represented the seller. 
 LEASES BCG renewed its 70K SF lease at Harwood No. 6-Saint Ann Court. CBRE’s Harlan Davis, Neal Puckett and Phil Puckett represented the tenant. Harwood’s Hannah Waidmann and Kelly Whaley represented Harwood. 
Extreme Wholesale Inc. leased 10K SF from Signature Imaging Corp. at 1700 Surveyor Blvd. in Carrollton. Mercer Co.’s David Wilganowski represented the tenant.  
Mosley Basketball dba PickUP USA Fitness leased 17K SF of industrial flex space in Sandy Lake Business Center, 989 West Sandy Lake Road in Coppell. Bradford Commercial Real Estate Services’ Erik Blais represented the landlord, H2C Enterprises Inc. Colliers’ Allyson Yost and Cole Hooper represented the tenant.
AM Linen Service dba Linen Rental leased 13K SF at 2623 Brenner Drive in Dallas from Knopf Family L.P. Mercer Co.’s Keenan Cook represented both t…
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