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HKS received an inaugural Environmental Design Research Association (EDRA) Certificate of Research Excellence award for its field research and parametric analysis of a key medical-surgical unit.
Jim Lennon, AIA, – who has developed an international reputation as an emergency department design specialist – joins HKS as an associate principal/senior vice president of Team ED.
HKS Inc. (Dallas) has announced the launch of HKS Knox Advisors. The new practice will guide clients on increasing the value of their facility assets. Knox takes its name from and recognizes Harwood Knox Smith, the founder of HKS.
Clients who are looking to maximize the value of their facility assets with the knowledge and support of a disciplined advisory partner, can rely on a new practice: HKS Knox Advisors. Knox takes its name from and recognizes Harwood Knox Smith, HKS's founder.
As a Pittsburgh native, PricewaterhouseCoopers director of real estate research Charles DiRocco wasn’t thrilled with the name, but speaking at the recent ULI real estate trends and forecast meeting, he said the Steel City didn’t go overboard on development during boom: It’s been stable. And, for a change, boring is good. We snapped Charles at the Omni Mandalay in Las Colinas last week. (Between the Rangers excitement and many corporate relocations and deals, we've been stacking up the news.) Charles says Pittsburgh’s property values and rents have been flat and development sporadic—but investments there yield steady returnswithout much, if any, upside. Other cities should be as lucky, he says. What once had been a major manufacturing center with many corporate HQs is now cleaned up and has a high ratio of workers ingovernment, education, and medical fields, he says. We caught up with Charles and HFF’s Adam Herrin, the ULI Young Leaders chairman for the last two years. Adam was pleasantly surprised to take home the Volunteer of the Year award—Dallas ULI is all volunteer-led. As for his day job (which he does get paid for) he's busier because the debt and equity markets are getting activeagain. Charles says local developers learned not to take outrecourse loans in the early '90s and housing prices never got out of control in the recent cycle. With relatively tempered office construction today, he says vacancies have a shot to drop into the high teens over the next few years. Apartment builders can do well, though, constructing into growth waves, but investors in existing properties always face new competition. DFW SALES PICKING UP While reported transaction volume remained well below the DFW market’s historic average, trading has picked up in recent quarters, according to data from CoStar Group. Transaction volume through the first three quarters totaled $216M, far short of the $1.3B that the metro averaged annually from 2004–07, but still more than twice the $91M that was traded in 2009. The majority of deals were made by investors pouncing on discounted pricing. Toronto-based Brookfield Asset Management paid $16M for the vacant Two Addison Circleon the Dallas North Tollway. Wachovia foreclosed on the 200k SFbuilding in October 2009, and foreclosure records show the original loan on the development totaled about $40M. Across the Metroplex, CBRE Investors purchased a four-office portfolio in Preston Center from Capri Commons for $180/SF, a 22% discount from the last time the properties sold in 2005, when BentleyForbes bought the buildings for $230/SF. Although trading is undoubtedly on the upswing, the degree of increased activity remains somewhat obscured by incomplete pricing data, CoStar says. Because Texas is anondisclosure state, total sales volume may be understated. LIVE.EAT.DESIGN Students from Texas A&M, Texas Tech, and UTA worked with construction industry leaders—including HKS's Tom Harvey (above)—to explore novel ideas in building design with research findings presented at a Design Research Collaborative at HKS’s HQ on Oct. 12. HKS director of research Debajyoti Pati says the program was created to pair industry and academic talents. Students teamed with industry professionals on a variety of topics—from alternative energy systems to innovative building materials—with the papersreviewed by a jury of industry leaders. GROWING & MOVING Calling it one of the largest deals in Richardson this year, Transwestern’s Dallas office inked a 57k SF lease for id Softwareand its parent company Zenimax Media at Collins Crossing at 1500 N. Greenville Ave. The firm is doubling in size and will occupy the sixth and seventh floors. It will relocate from Mesquite on Nov. 1, says TW Central region principal Reid Caldwell. He repped the landlord, Franklin Street Properties Corp. Newmark Knight Frank’sSeth Weinstein repped the tenant. Collins Crossing is a Class A mid-rise building and has increased its occupancy by about 20%with the addition of id Software, Reid says. TEEING OFF After the Rangers spanking last night, we knew you'd need something to brighten your day, so we give you the Boxer Property Tee Man (that we've been saving for a rainy or sad day). At the NTCAR Trade Show on Sept. 2 at the Sheraton Dallas, Tee Man posed with Boxer Property’s Dallas leasing team: Alanna Vinson, Jennifer Kyle,Gena Terranova, Sheila Schreiner, Tom Newell, Mary Bailey, and Hayden Earle. Boxer Property has more than 4.2M SF of office and retail space in DFW under management/leasing. It recently inked an almost 6k SF deal for Honors Academy in the III Metro Square at 12300 Ford Rd. in Dallas with Hayden working the deal.