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Old 08-02-2015, 07:09 AM
 
Location: plano
5,968 posts, read 7,520,077 times
Reputation: 5022

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It's hard to know the future, rising home values and job growth driving high real estate demand are your friend if your needs or wants change over 20 years. Look at Detroit as an extreme example on the end and California on the other. Which would you prefer? I would rather see rising prices than falling ounces and don't believe anyone can drive an economy to hold prices flat.
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Old 08-02-2015, 09:46 AM
 
11,688 posts, read 21,293,643 times
Reputation: 10088
Quote:
Originally Posted by Johnhw2 View Post
I am trying to remember a relocation of any size to Dallas. It seems the suburbs and FW are carrying the old city again. Small land too expensive and bad schools other than for the elite and wealthy. Just like most old cities..
Since you can't remember any, I'll jog your memory:

2008
AT&T relocated its headquarters from San Antonio to downtown Dallas. Over the next 5 years, they consolidated other offices around the U.S. into the Dallas HQ. AT&T brought about 5,600 jobs to downtown Dallas (more than Toyota + FedEx relos combined). AT&T's move really kicked off the movement for HQ's to relocate to DFW region.

Comerica also relocated it's HQ from Detroit to downtown Dallas in 2008.

2010-2013
16 companies relocated HQs to Dallas proper bringing approx 2500 jobs (Breitling Energy/ O&G, Tower Legal Services, TRT private equity, etc).

2014
Omnitracs relocates 450 employee HQ from San Diego to the KPMG building downtown.
Active Networks relocates 1,000 employee HQ from San Diego to downtown Dallas.

2015
Richards Group moved its HQ from north Dallas to Uptown's West Village (700 employees). Yes, they were already IN Dallas but the point is they chose to stay there, unlike Chase's recent announcement to leave downtown.


The city of Dallas is not dead. Of the 21 Fortune 500 companies HQ in the DFW metoplex, the 9 are still HQ'd in the city of Dallas (more than any other one city/suburb). Six are in Irving and the other six are scattered around the various other suburbs and in Fort Worth. Almost 3,000 companies - big and small- HQ in the city of Dallas itself. Dallas is the economic anchor of the region.
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Old 08-02-2015, 10:40 PM
 
Location: plano
5,968 posts, read 7,520,077 times
Reputation: 5022
I moved here from Houston in mid 2010. People in Houston don't pay a lot of attention to Dallas, although the weather stations cover all of Texas weather unlike the Dallas stations who tend to ignore big chunks of Texas.

FedEx office is not a big relocation but they moved from galleria area in Dallas to Plano. I had forgotten ATT moved from bedminster, NJ to San Antonio when the SWBell merger happened. It is a mega deal on the order of Toyota and liberty mutual bring around ten thousand jobs to Plano.

Rumor has it chase is consolidating around six thousand jobs to the suburbs likely Driscoll or Plano, these come from Dow and surrounding suburbs as you noted.

We all know Dallas is the largest city in the metro and isn't dead. Some pretend the suburbs add nothing which isn't true and the recent relo trends show a decided favor the northern suburbs trend. Dallas posters at time like to ignore and belittle it's suburbs ignoring that some relos like Toyota would not have come to Dallas but did come to the suburbs.

Is Dallas the big kahuna? of course but bashing suburbs as some do, not all all or you, may make Dallas feel bigger or confirm its the big kahuna but it's counter productive and border line childish. Some claim the suburbs are all about cheap land and living in mc mansions. Ignoring the hard successful effort to keep the schools performing as the world changes and to attract companies like Toyota misleads those making relocation decisions from posts.

We are better when as a whole when we avoid rumning each other down, I do react more than I should.
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Old 08-02-2015, 10:54 PM
 
11,688 posts, read 21,293,643 times
Reputation: 10088
Quote:
Originally Posted by Johnhw2 View Post
I moved here from Houston in mid 2010. People in Houston don't pay a lot of attention to Dallas, although the weather stations cover all of Texas weather unlike the Dallas stations who tend to ignore big chunks of Texas.

FedEx office is not a big relocation but they moved from galleria area in Dallas to Plano. I had forgotten ATT moved from bedminster, NJ to San Antonio when the SWBell merger happened. It is a mega deal on the order of Toyota and liberty mutual bring around ten thousand jobs to Plano.

Rumor has it chase is consolidating around six thousand jobs to the suburbs likely Driscoll or Plano, these come from Dow and surrounding suburbs as you noted.

We all know Dallas is the largest city in the metro and isn't dead. Some pretend the suburbs add nothing which isn't true and the recent relo trends show a decided favor the northern suburbs trend. Dallas posters at time like to ignore and belittle it's suburbs ignoring that some relos like Toyota would not have come to Dallas but did come to the suburbs.

Is Dallas the big kahuna? of course but bashing suburbs as some do, not all all or you, may make Dallas feel bigger or confirm its the big kahuna but it's counter productive and border line childish. Some claim the suburbs are all about cheap land and living in mc mansions. Ignoring the hard successful effort to keep the schools performing as the world changes and to attract companies like Toyota misleads those making relocation decisions from posts.

We are better when as a whole when we avoid rumning each other down, I do react more than I should.
You should practice what you preach. Calling Dallas "the old city that the suburbs are carrying" isn't exactly making us better by "avoiding running each other down." Nor is it an accurate statement.

Look, there are different types of companies who prefer different corporate HQ setups. For Toyota - a company who wanted a large corporate campus with room for a R&D track, obviously there is no available land in Dallas that would have accommodated that setup, so Dallas was probably not a considersation at all for their relo. For AT&T, leasing multiple floors in a downtown skyscraper suited their needs and at the time of their relo, they were very vocal about their excitement for moving downtown and being part of downtown's renaissance.
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Old 08-03-2015, 12:53 AM
 
Location: Dallas, TX
1,161 posts, read 741,647 times
Reputation: 248
We went to DWA during weekend and klyde warren park. No suburb is going to replace Dallas downtown urban cityscape.
Are you guys saying, all those tall buildings are vacant or going to be vacant?
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Old 08-03-2015, 04:18 AM
 
Location: DFW Area, Texas
13 posts, read 4,057 times
Reputation: 12
I have lived in the outer suburbs and its astonishing how fast they are growing. DART is not going to be able to keep up with the growth at this rate.
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Old 08-03-2015, 07:21 AM
 
11,688 posts, read 21,293,643 times
Reputation: 10088
Quote:
Originally Posted by ritholtz View Post
We went to DWA during weekend and klyde warren park. No suburb is going to replace Dallas downtown urban cityscape.
Are you guys saying, all those tall buildings are vacant or going to be vacant?
Downtown office space is at the lowest vacancy rate in decades. Suburbs are building office space faster than ever.

The point is it's not city vs suburbs. Both have a lot to offer depending on what a company is look for, office-wise.
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Old 08-03-2015, 07:48 AM
 
Location: North Texas
23,625 posts, read 31,237,055 times
Reputation: 26696
Quote:
Originally Posted by biafra4life View Post
Personally I would be perfectly fine if my home values don't go up. Then again, I'm planning to stay in my home for the next 20 years so this wont work for others who might plan to up sticks after a couple of years...and I suspect there are quite a few people who are in my position. We just want to stay in our homes without getting flogged with double digit increases in taxes every year. 5 more years of 10% tax increases will substantially change the percentage that the PITI takes out of my budget, from painless to uncomfortable...and the scary thing is that this scenario is looking more and more realistic every day...somehow I don't think I'm the only home owner here who would didn't have buckets of East Coast/West Coast equity, and would be negatively impacted by this.
Very true. I'd rep you again if I could!
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Old 08-03-2015, 02:14 PM
 
Location: plano
5,968 posts, read 7,520,077 times
Reputation: 5022
Quote:
Originally Posted by TurtleCreek80 View Post
Downtown office space is at the lowest vacancy rate in decades. Suburbs are building office space faster than ever.

The point is it's not city vs suburbs. Both have a lot to offer depending on what a company is look for, office-wise.
I agree with the bottom line that both downtown and the suburbs have a lot to offer a company.

While CBD vacancy rates are declining they remain well above the vacancy rates in the suburbs where most of the new construction is happening. Roughly half of the new suburban office construction is due to client demand not spec (State Farm, Toyota, liberty mutual to name the large ones). Not to mention the rumored chase consolidation of 6000 jobs from around dfw to Plano or frisco as its rumor.
.
I believe both CBD and the Richardson/Plano area office markets are health. I do not Agree with the suggestion CBD is out performing these suburbs as the comment above suggests.
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Old 08-04-2015, 11:00 PM
 
641 posts, read 457,680 times
Reputation: 749
3,000 companies HQ in Dallas means about 1 for every 400 residents, including the residents over 65, under 18, and disabled. Who is going to work for the companies who don't HQ in Dallas but operate there? Suburban leeches?
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