Dallas Fort Worth Urban Forum

Corporate Relocations/Expansions

DPatel304
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Re: Corporate Relocations/Expansions

Postby DPatel304 » 19 Nov 2020 09:37

As the economy starts to really get back on track in 2021, I have a feeling we'll be seeing a lot more relocations to Texas and the DFW area.

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tamtagon
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Re: Corporate Relocations/Expansions

Postby tamtagon » 22 Nov 2020 07:41

https://www.dallasnews.com/business/202 ... s-mansion/

Abbott: Stock exchange coalition ‘impressed’ in visit to Texas Governor’s Mansion

By Dom DiFurio

5:55 PM on Nov 20, 2020 CST
...
The group meeting with Abbott calls itself the Coalition To Prevent the Taxing of Retirement Savings. It includes Nasdaq, CBOE Global Markets, Citadel Securities, data center operator Equinix, IEX, Members Exchange, New York Stock Exchange owner Intercontinental Exchange, TD Ameritrade Holding Corp., Virtu Financial and UBS.
...
Abbott said the exchanges are eyeing Dallas-Fort Worth for a potential move.
...
The state’s abundance of renewable energy, its independent power grid and cheap cost for electricity compared to New Jersey were discussed with the group, Abbott said. Tech giants Facebook and Google have already seized on the Texas power advantage, having invested in large data centers in North Texas recently.


To be clear, these stock exchanges would still be headquartered in New York, it's the electronic trading infrastructure that would relocate... data centers.

Isn't there something about the wiring in the Design District that makes it a very desirable location for heavy users of electricity and speed of electronic transactions?

Rewilding the Trinity River Park will be so much nicer if the powerlines were below ground, so how about we bundle some projects... upgrade the electricity delivery infrastructure (including an array of those fancy new batteries) all through downtown to Regal Row, putting it below grade. The reliable availability of high volume electricity will bring more heavy usering customers like the stock exchanges... removing the powerlines will make the Park that much nicer.

The imitative to bank the renewable energy will incent those kinds of companies to Dallas, too.

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Ace
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Re: Corporate Relocations/Expansions

Postby Ace » 14 Dec 2020 15:09

Why are these relocations to Austin great news for Dallas-Fort Worth? From a distance, the two areas appear to be one in the same. There is a growing symbiosis between Austin and Dallas - Fort Worth just as a symbiotic relationship exists pertaining to the aerospace industry in both Fort Worth and Witchita, Kansas and in areas between them.

Tnexster
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Re: Corporate Relocations/Expansions

Postby Tnexster » 28 Dec 2020 09:57

Amid California exodus, will Wells Fargo, Uber or Chevron’s headquarters be next to go?

https://www.bizjournals.com/dallas/news ... or-ch.html

There’s a short list of companies that already seem to have one foot out the door — whether it’s Wells Fargo (NYSE: WFC), with its CEO based in New York, or Chevron (NYSE: CVX) employing more people in Houston than it does in the Bay Area.

The Bay Area’s Fortune 500 companies often reiterate their commitment to the region — until one day unveiling plans to move their headquarters out of state. Such was the case with Irving-based McKesson (NYSE: MCK), which told the San Francisco Business Times on Nov. 8, 2018, that its headquarters is in San Francisco. Three weeks later, McKesson disclosed that its headquarters was headed to Texas.

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maconahey
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Re: Corporate Relocations/Expansions

Postby maconahey » 28 Dec 2020 18:16

Charles Schwab to Officially Move Headquarters to Denton County on Jan. 1

As part of the merger, the combined company’s headquarters would relocate from San Francisco to North Texas.

Schwab’s $100 million campus is located in Westlake at the corner of Highways 170 and 114.

The campus covers 500,000 square feet on more than 70 acres of land.

The Schwab campus, which covers 500,000 square feet on more than 70 acres of land, will be located in Hillwood’s Circle T Ranch development.



https://www.nbcdfw.com/news/local/charl ... 1/2514658/

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Tivo_Kenevil
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Re: Corporate Relocations/Expansions

Postby Tivo_Kenevil » 05 Jan 2021 20:15

From SF to Denton. What a shift.

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Kelley USA
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Re: Corporate Relocations/Expansions

Postby Kelley USA » 06 Jan 2021 11:08

I've driven by the new HQ a number of times... It's actually a pretty impressive campus that they've built! Not sure the location is attractive for young working professionals, but for employees relocating with families it's pretty solid. I think Westlake, Southlake, Colleyville & Grapevine all have a lot to offer for those moving down from SF.

Tnexster
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Re: Corporate Relocations/Expansions

Postby Tnexster » 06 Jan 2021 11:40

Exclusive: Another real estate firm relocates headquarters from Los Angeles to Dallas

https://www.bizjournals.com/dallas/news ... ation.html

A fast-growing real estate firm focused on multifamily investment is relocating its corporate headquarters to Dallas from Los Angeles.

Lion Real Estate Group LLC, which has about 150 employees and $1 billion in assets under management, is moving its headquarters into office space at 3811 Turtle Creek Blvd., the company’s co-founders said in an exclusive interview with the Dallas Business Journal on Tuesday.

The company will keep its Los Angeles office to support West Coast operations.

Tnexster
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Re: Corporate Relocations/Expansions

Postby Tnexster » 28 Feb 2021 11:34

Exclusive: $50B global investment firm eyes new office in Dallas, sources say

https://www.bizjournals.com/dallas/news ... allas.html

Fortress Investment Group, a multi-billion dollar global investment manager based in New York, is looking to grow its office presence in North Texas, according to sources with knowledge of the deal.

The company is looking to take two floors, or about 50,000 square feet, around Turtle Creek, Knox-Henderson or Uptown Dallas, sources say. The company already has a smaller office in Las Colinas at Williams Square, according to its website.

At least one top executive at the company, Andrew McKnight, is already based in Dallas, according to the company's website. McKnight serves as co-chief investment officer and managing partner of Credit Funds.

Tnexster
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Re: Corporate Relocations/Expansions

Postby Tnexster » 01 Mar 2021 14:32

Texas leads the nation for businesses sinking billions of dollars into relocations, expansions
Site Selection magazine, which has compiled the rankings since 1978, said Texas had 781 projects in 2020, almost twice as many as No. 2 Ohio.

https://www.dallasnews.com/business/eco ... xpansions/

For the ninth consecutive year, Texas has outpaced every other state by a big margin for the most new and expanded corporate facilities, according to a new report released Monday.

Site Selection magazine, a trade publication that’s compiled the annual ranking since 1978, said Texas had 781 projects in 2020 to lead the list. Runner-up Ohio had 419 projects.

Both top states had fewer projects in the year that started out with a strong economy that was slammed by the pandemic.

Tnexster
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Re: Corporate Relocations/Expansions

Postby Tnexster » 23 Mar 2021 15:31

Crescent Real Estate’s John Goff is getting ready for a post-COVID boom
Goff’s commercial property is doing big deals to get ready for a surge of relocations to Texas.

https://www.dallasnews.com/business/rea ... ovid-boom/

He thinks the steady stream of companies coming to Dallas and Texas from coastal markets will turn into a flood as the pandemic subsides. “We are in the epicenter of relocations,” Goff said. “The relocations are only going to be amplified as we continue to see tax policy changes in various states.

“Dallas-Fort Worth is going to get a disproportionate share of those moves,” he said. “Texas is just going to be a magnet for business.”

DPatel304
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Re: Corporate Relocations/Expansions

Postby DPatel304 » 23 Mar 2021 16:34

I'm obviously biased, but that's how I've been feeling about Texas during this pandemic as well, and my opinion has not changed at all now that we are nearing the end of it.

Everything that made the economy strong pre-COVID is still true for Texas. As far as COVID, it seems like we were more lax with our restrictions which probably helped our local economy compared to some of the coastal areas.

I really hope I'm right and we see a more relocations to the DFW area, but I suppose only time will tell.

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Addison
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Re: Corporate Relocations/Expansions

Postby Addison » 24 Mar 2021 16:09

Tnexster wrote:Crescent Real Estate’s John Goff is getting ready for a post-COVID boom
Goff’s commercial property is doing big deals to get ready for a surge of relocations to Texas.

https://www.dallasnews.com/business/rea ... ovid-boom/

He thinks the steady stream of companies coming to Dallas and Texas from coastal markets will turn into a flood as the pandemic subsides. “We are in the epicenter of relocations,” Goff said. “The relocations are only going to be amplified as we continue to see tax policy changes in various states.

“Dallas-Fort Worth is going to get a disproportionate share of those moves,” he said. “Texas is just going to be a magnet for business.”


On a somewhat related note, CBRE just released a report that ranked Austin and DFW as the 1st and 2nd most preferred metros for investment in 2021.

http://cbre.vo.llnwd.net/grgservices/se ... a389911828

The housing situation will definitely need to be resolved somehow though. These 2 metros already have the worst shortage in the country.
Last edited by Addison on 24 Mar 2021 16:19, edited 1 time in total.

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Tivo_Kenevil
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Re: Corporate Relocations/Expansions

Postby Tivo_Kenevil » 24 Mar 2021 16:15

Austin taking over, telling u guys.

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Addison
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Re: Corporate Relocations/Expansions

Postby Addison » 24 Mar 2021 16:21

Tivo_Kenevil wrote:Austin taking over, telling u guys.


I know your comment was kind of tongue in cheek, but there is truth to that.

It literally seems to be turning into San Francisco Bay Area 2.0

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Tivo_Kenevil
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Re: Corporate Relocations/Expansions

Postby Tivo_Kenevil » 24 Mar 2021 16:29

Addison wrote:
Tivo_Kenevil wrote:Austin taking over, telling u guys.


I know your comment was kind of tongue in cheek, but there is truth to that.

It literally seems to be turning into San Francisco Bay Area 2.0


Yep. Plus they're constantly being rated as one of the best places to live. The way things are going i wouldn't be surprised if Austin surpassed Dallas in population sooner rather than later.

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Addison
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Re: Corporate Relocations/Expansions

Postby Addison » 24 Mar 2021 16:38

Tivo_Kenevil wrote:
Addison wrote:
Tivo_Kenevil wrote:Austin taking over, telling u guys.


I know your comment was kind of tongue in cheek, but there is truth to that.

It literally seems to be turning into San Francisco Bay Area 2.0


Yep. Plus they're constantly being rated as one of the best places to live. The way things are going i wouldn't be surprised if Austin surpassed Dallas in population sooner rather than later.


I don't know about all of that. DFW is still the clear growth leader outside the tech realm.

It will probably be more like a SF <---> LA dynamic, whereas DFW is LA.

EDIT: Never mind. I see you were talking about Dallas proper and Austin proper.

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I45Tex
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Re: Corporate Relocations/Expansions

Postby I45Tex » 24 Mar 2021 18:07

Most of Austin's annexable ETJ that isn't already landlocked is between Niederwald and Manor on a bland landscape far from everything intown.

Subdivisions getting built on that side of town so far compare unfavorably to Collin County.

Tying that back to the thread subject -- everything is rosy for a stock when the ceiling has never been found yet. It could be anything. But a fair part of the optimism starts faltering as soon as a ceiling is found. We're seeing that with Tesla and we'll see it with ATX.

Austin talks like it's inventive. But it didn't start taking off until the 1950s and it has never stopped since. It won't know if it can reinvent itself until the first time that it has to do so. Dallas hasn't quite hit that roadblock yet either, while other former boosterish can-do boomtowns like Shreveport and Tulsa are up against it now. I don't think Texans really take it seriously -- think we have economic antigravity in our blood. That will not prove true.

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undefinedprocess
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Re: Corporate Relocations/Expansions

Postby undefinedprocess » 26 Mar 2021 10:45

I45Tex wrote:Most of Austin's annexable ETJ that isn't already landlocked is between Niederwald and Manor on a bland landscape far from everything intown.

Subdivisions getting built on that side of town so far compare unfavorably to Collin County.

Tying that back to the thread subject -- everything is rosy for a stock when the ceiling has never been found yet. It could be anything. But a fair part of the optimism starts faltering as soon as a ceiling is found. We're seeing that with Tesla and we'll see it with ATX.

Austin talks like it's inventive. But it didn't start taking off until the 1950s and it has never stopped since. It won't know if it can reinvent itself until the first time that it has to do so. Dallas hasn't quite hit that roadblock yet either, while other former boosterish can-do boomtowns like Shreveport and Tulsa are up against it now. I don't think Texans really take it seriously -- think we have economic antigravity in our blood. That will not prove true.

So if you were to summarize this into one sentence (in layman's terms), what would that be (for Austin & Dallas)?

DPatel304
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Re: Corporate Relocations/Expansions

Postby DPatel304 » 26 Mar 2021 11:03

Tivo_Kenevil wrote:Yep. Plus they're constantly being rated as one of the best places to live. The way things are going i wouldn't be surprised if Austin surpassed Dallas in population sooner rather than later.


Austin: 950,000
Dallas: 1,330,000

Seems unlikely given how far ahead Dallas already is. I don't know what the population trends are for each city though.

It feels like Austin will price people out of the city quicker than Dallas will, which may hurt growth? I mean, I'd say it is currently working in Austin's favor because their city feels a lot more cohesive and together than Dallas currently does, but the downside is less room to grow/develop.

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Tucy
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Re: Corporate Relocations/Expansions

Postby Tucy » 26 Mar 2021 14:48

DPatel304 wrote:
Tivo_Kenevil wrote:Yep. Plus they're constantly being rated as one of the best places to live. The way things are going i wouldn't be surprised if Austin surpassed Dallas in population sooner rather than later.


Austin: 950,000
Dallas: 1,330,000

Seems unlikely given how far ahead Dallas already is. I don't know what the population trends are for each city though.

It feels like Austin will price people out of the city quicker than Dallas will, which may hurt growth? I mean, I'd say it is currently working in Austin's favor because their city feels a lot more cohesive and together than Dallas currently does, but the downside is less room to grow/develop.


Between 2010 and 2019, Dallas grew by 12.2%. Austin grew 23.9% in the same period.
Assuming the same rates of growth are continued, it would be some time around 2050.

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tamtagon
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Re: Corporate Relocations/Expansions

Postby tamtagon » 26 Mar 2021 15:10

South Dallas will turn over well before austin catches up.

Tnexster
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Re: Corporate Relocations/Expansions

Postby Tnexster » 29 Mar 2021 11:33

Tucy wrote:
DPatel304 wrote:
Tivo_Kenevil wrote:Yep. Plus they're constantly being rated as one of the best places to live. The way things are going i wouldn't be surprised if Austin surpassed Dallas in population sooner rather than later.


Austin: 950,000
Dallas: 1,330,000

Seems unlikely given how far ahead Dallas already is. I don't know what the population trends are for each city though.

It feels like Austin will price people out of the city quicker than Dallas will, which may hurt growth? I mean, I'd say it is currently working in Austin's favor because their city feels a lot more cohesive and together than Dallas currently does, but the downside is less room to grow/develop.


Between 2010 and 2019, Dallas grew by 12.2%. Austin grew 23.9% in the same period.
Assuming the same rates of growth are continued, it would be some time around 2050.


:lol: :lol: :lol:

Tnexster
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Re: Corporate Relocations/Expansions

Postby Tnexster » 05 Apr 2021 13:21

California’s First Foundation Inc. establishes new Texas HQ at Uptown Dallas’ The Crescent
The company’s chief executive said the D-FW area reminds him of Southern California 30 years ago, where the company got its start.

https://www.dallasnews.com/business/ban ... -crescent/


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