DFW Economy

[Cord1936]

Global Tech Company Shokworks Inc to Move HQ from Miami to Dallas
BY LAUREN HAWKINS • SEP 3, 2020 • Dallas Innovates

Shokworks Inc plans to make a move from Miami to a 4,000-square-foot space around Downtown Dallas in early November. CEO Alejandro Laplana will be based in the new headquarters along with 10 other employees.
...
For Shokworks, the move to Dallas was strategic.

“Dallas has become a spot that tech companies, green energy and financial institutions are pouring into to call home,” Laplana said in a statement. “We believe this is the perfect time for Shokworks to stake our claim.”
...
Shokworks has over 300 full-time engineers creating both mobile and web-based software solutions on staff. Laplana expects that the company will have more new hires in 2020-2021.

Shokworks will make the headquarters move official on Thursday, September 3, during a reception at The Statler.

https://dallasinnovates.com/global-tech ... to-dallas/

[jetnd87]

https://www.bizjournals.com/dallas/news ... -jobs.html

Dallas ranks #3 for tech jobs behind NYC and DC (per this source). Obviously a grain of salt given SF is #5 here.

[TNWE]

https://www.bizjournals.com/dallas/news/2020/09/08/north-texas-technology-jobs.html

Dallas ranks #3 for tech jobs behind NYC and DC (per this source). Obviously a grain of salt given SF is #5 here.

Might be a classification issue if San Jose and/or the Valley is a separate entry in the list (can't see the article so I don't know).

[I45Tex]

That's almost always the case because the best labor statistics are updated by the feds and they do them by MSA, not by combined MSAs. San Jose is almost 50 miles from both San Francisco and Berkeley, and in a different MSA, even though some of the suburbs in the middle can commute to both.

[CTroyMathis]

. . .

JRD, hey a random bird told me Thompson Hotel at 1401 Elm has a pretty extensive pre-opening job listing, for well, not even being opened/finished yet. Might be a different brand, but, hey. Passing it along.

[Tivo_Kenevil]

. . .

JRD, hey a random bird told me Thompson Hotel at 1401 Elm has a pretty extensive pre-opening job listing, for well, not even being opened/finished yet. Might be a different brand, but, hey. Passing it along.

Good to hear, lots of hard working folks need a job at the moment.

[itsjrd1964]

. . .

JRD, hey a random bird told me Thompson Hotel at 1401 Elm has a pretty extensive pre-opening job listing, for well, not even being opened/finished yet. Might be a different brand, but, hey. Passing it along.

Wow, thanks for thinking of me. I am amazingly still employed, and my hotel remains open. We still have a few long-term stays, a few remaining October tornado displacements, a few recent Hurricane Laura evacuees, several families getting kids settled into SMU for the semester, as well as the occasional move-in to the DFW area. I'm sure we could have used the bump from the State Fair/Texas-OU, but maybe next year? Our occupancy % has hovered from the 30s to the low 50s. They've hired a houseman back next door, while our property has gotten 2 housekeepers back and is working to get the lady back that worked my 2 days off pre-virus. The owners are still using what would have been our renovation funds to capitalize us during this time, so it is uncertain when we'll get our next renovation. At least we're not like the SpringHill down the service road, they're still closed--no word on when they'll open back up.

I figured the Thompson, the Pittman, and others *might* have openings, but I'd hate to jump from a sure thing to a new property when most analysts and travel industry folks are thinking it will be 2023-2025 before traffic and revenues resemble those pre-virus.

[Matt777]

I’ve tried to ignore the drama between our current presidential administration and TikTok of China, but a recent quote from the president noted that Oracle and Walmart were going to buy TikTok and relocate the HQ to the US, “likely Texas.” Eventual employment in the US was stated to be around 25,000.

TikTok already has an office in Austin, but has anyone heard of Dallas being in play for this? If it’s Texas, I can’t see the HQ being anywhere except Austin or DFW. And thankfully, TikTok seems like they’d be an urban core of Dallas type company versus the burbs of Plano/Frisco/Irving.

[eburress]

One would have to assume Austin would be the favorite but obviously it would be tremendous if TikTok ended up here in Dallas. Imagine them ending up in the rumored high rise at Pearl and Pacific, right near Uber. Man.

[homeworld1031tx]

Lol there is no way TikTok is going to employ 25K people. That is an utter pipe dream. To put this all in context: Twitter has, in total, 5k employees. TikTok is a more challenging software problem to solve, but that work is already done in China. At this point, the current TikTok deal also maintains 80 pct of its ownership to ByteDance. This deal is also changing daily as it's a stupid deal being done exclusively to please our rule-by-tweet president.

TikTok stating that they plan to eventually hire 25k people in the US is being said exclusively so that Trump can tweet out that he just generated 25k jobs, which is a statement that is rube followers will believe and never fact check and not care to remember once it inevitably doesn't occur.

[eburress]

People aren't rubes because they have a different POV or priorities than you, or they support a different candidate than yours. I really wish people would stop denigrating others based on their political affiliation.

[tamtagon]

I agree the forum should avoid denigrating others based on political affiliation.

But asking about a that deal, calling it a pipe dream and a politically motivated action by the president is what I want to know about too. If politician makes headlines to claim that TikTok could be used as an arm of the Chinese Communist Party to spy on American citizens or cause other mischief, well, then that's true about thing coming out of China with any sort of processing hardware and/or software.

If that is a logical thought process, then was it really a good idea to buy a jet from a bankrupt Russia airline and turn it into Airforce One?

TikTok would have probably land with a North American HQ anyway. I hope it's in Deep Ellum, not because I want the Chinese Communist Party to have a spy network based in East Dallas, but because I want Dallas desk jobs in that part of town.

[homeworld1031tx]

People aren't rubes because they have a different POV or priorities than you, or they support a different candidate than yours. I really wish people would stop denigrating others based on their political affiliation.

You're correct, having a different POV than me or anyone else doesn't make someone a rube. What makes someone a rube is when they mindlessly follow and believe someone's [his] every word, even when those words are false, and when those falsehoods are so easily fact checked. I'm pretty sure that's close to a dictionary definition of a rube.

[eburress]

3D Map: The U.S. Cities With the Highest Economic Output

"By this same measure, Texas competes with Canada in terms of pure economic output, despite a total land area that’s 15 times less that of the Great White North."

https://www.visualcapitalist.com/3d-map ... dium=email

[Hannibal Lecter]

If that is a logical thought process, then was it really a good idea to buy a jet from a bankrupt Russia airline and turn it into Airforce One?

Not quite accurate. The aircraft (two of them) were built for Transaero, but never delivered. They're being purchased from Boeing, not Transaero.

[CTroyMathis]

Not necessarily huge news, just noting it here.

Facebook adding another building, expanding data center capacity at their Fort Worth property:
https://outline.com/PcAHN4
https://www.tdlr.texas.gov/TABS/Search/ ... 2021001306 <---Winner, LLC is Facebook

I do find this address rather humorous: 4500 Like Way

[TNWE]

If that is a logical thought process, then was it really a good idea to buy a jet from a bankrupt Russia airline and turn it into Airforce One?

Not quite accurate. The aircraft (two of them) were built for Transaero, but never delivered. They're being purchased from Boeing, not Transaero.

Yup - it was touted as a money-saving move because demand for 747-8's was zilch even before COVID, so Boeing was willing to sell the two undelivered aircraft they had sitting on the proverbial lot rather than baking in the marginal cost of keeping the line going to build another two passenger model 747-8's (all they were making at the end was freighter models). The AF1 conversion process takes the plane down to the proverbial studs anyway to install specialized equipment, so even if they were truly used aircraft, the Boeing engineers doing the actual conversion in San Antonio would find any tampering or spy gear or what have you.

[Tnexster]

People aren't rubes because they have a different POV or priorities than you, or they support a different candidate than yours. I really wish people would stop denigrating others based on their political affiliation.

Cheers!

[Hannibal Lecter]

Dallas is 2020’s top commercial real estate market

https://www.dallasnews.com/business/rea ... te-market/

Even with the pandemic, Dallas is leading the country in commercial real estate deals.

North Texas topped much larger markets — including Los Angeles and Manhattan — as the U.S. metro area with the largest volume of commercial property transactions, according to a just-released report from Real Capital Analytics.

[Kelley USA]

This is HUGE! Dallas looks like it has snagged another Fortune 500 - CBRE!

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

[DPatel304]

Great news! The title says 'Dallas', but the text says 'North Texas' so I wonder exactly where they will end up.

[dd_dweller]

Great news! The title says 'Dallas', but the text says 'North Texas' so I wonder exactly where they will end up.

It is not known what the headquarters move will mean for CBRE's local offices, but sources suggest one possible location for a consolidation could be a recently proposed office tower at 2401 McKinney Ave. in Uptown Dallas. Being developed by Trammell Crow, the 27-story tower will reportedly have 670,000 square feet of office space.

[DPatel304]

Thanks! I should have mentioned that I don't have access to the full article, so it was likely that my question was answered in the body of the article itself.

That particular part of Uptown seems to be very hot these days, so I could totally see this happening!

[Tucy]

According to Cushman Wakefield's 3rd Q 2020 Office Market Report, DFW is almost up to 50 Million square feet of vacant office space.

Worse yet, Transwestern has us at 56 Million square feet of vacant office space.


The good news is, we should never ever have to turn away a relocation.

[Cord1936]

Dallas-Fort Worth Leads the Nation in Apartment Demand for Q3 2020
The DFW multifamility market also led in the second quarter with modest gains due to government stay-at-home orders.

BY SANDRA ENGELLAND • NOV 28, 2020 • DALLAS INNOVATES

Dallas-Fort Worth led the nation for apartment demand in the third quarter of 2020, according to a report from RealPage.

The top four markets in the nation were all in the Sunbelt, with Atlanta, Houston, and Phoenix coming in behind Dallas-Fort Worth. North Texas absorbed 8,957 units, Atlanta was at 8,425, and Houston at 7,751. Those top three markets accounted for 17 percent of the nation’s total demand.
...
Not all metro areas saw increases. New York and San Francisco saw massive move-outs, losing 11,705 and 3,637 units respectively.

Along with occupancy growth, Dallas-Fort Worth led the nation in the number of apartments under construction in Q3 with 40,349 units, 10,000 more than each of the next two busiest multifamily construction markets, Washington, D.C., and Los Angeles.
...

Article: https://dallasinnovates.com/dallas-fort-worth-leads-the-nation-in-apartment-demand-for-q3-2020/

[jetnd87]

Dallas-Fort Worth dethrones Manhattan as nation's top CRE investment market, new report says

https://www.bizjournals.com/dallas/news ... n-cre.html