News
A SPEC O' SPEC
April 9, 2010
| Speculative building? "You're kidding, right?" asks Duke Realty Company EVP Jeff Turner. He calls that market zilch with only a few stragglers completing projects they had started before the downward CRE spiral. | |||
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| Jeff tells us Duke is focusing on filling vacancies and managing land holdings and intends to reduce its land inventory. "We're also looking for build-to-suit with tenants in place and to cut back on risk.†In Dallas, where you have more than 600M SF of industrial and close to 300M SF of office space, it's hard for any one developer to gain enough market share to dominate, he says: "You have to pick and choose those areas that you want to have a presence in.†| |||
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| In the DFW Airport market around Coppell, Duke has Point West VI (above), a 1M SF industrial building that's half leased to Welton Sound. An area he anticipates growing in the next development cycle is the southern sector along I-45, I-20, and I-35. Wanna know more of Jeff's thoughts on the market? He'll be among the experts (Haynes and Boone partner Rick Martin, Granite Properties prez Michael Dardick, and Behringer Harvard prez Robert Aisner, to name a few) at Bisnow's 2010 Dallas-Fort Worth State of the Market on Thursday. Sign up today! |
