2014 Economic Forecast : Mike Berry President Hillwood Properties
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Mike Berry, President of Hillwood Properties, presented an economic forecast for 2014. He noted that the DFW metroplex continues to experience strong population and job growth, with over 1.5 million new residents expected in the next decade. Real estate trends show declining vacancy rates and increasing absorption across the multifamily, office, retail, and industrial sectors. Hillwood's AllianceTexas development was highlighted as an economic engine for North Texas, with over $7 billion invested and 35,000 jobs created across 18,000 acres. The expansion of the Panama Canal was also discussed as potentially benefiting North Texas inland ports and export growth.
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2014 Economic Forecast : Mike Berry President Hillwood Properties
- 1. Strategic Advantages 2014 Economic Forecast Mike Berry President Hillwood Properties
- 3. Strategic Advantages 2014 Economic Forecast: Year of the Rebound? Presented by Mike Berry President, Hillwood Properties November 6, 2013 October 25,2013
- 4. Regional Growth Trends Strategic Advantages D/FW METROPLEX § Fourth-largest population center nationally with approximately 6.5 million residents § Metroplex workforce is approximately 3 million § Projected 1.5 to 2.0 million in population growth over next decade. § Fifth-largest metropolitan economy in the United States with a $401 billion GDP that outpaces Venezuela, Thailand and Denmark (Source: IHS Global Insight) § $15 billion of highway construction underway in North Texas
- 5. Real Estate Growth Trends Strategic Advantages MULTIFAMILY SECTOR Multifamily Existing Units 3Q12 3Q13 % Change 649,164 662,037 1.98% Vacancy 6.20% 5.60% -9.68% New Deliveries (Units) 6,501 12,873 98.02% 10,146 15,934 57.05% Absorption (Units)
- 6. Real Estate Growth Trends Strategic Advantages OFFICE SECTOR Office 3Q12 3Q13 % Change Existing SF 339,072,504 340,691,359 .48% Vacancy 16.00% 15.00% -6.25% New Deliveries YTD (SF) 1,423,592 1,963,800 37.95% Absorption (SF) 2,456,693 3,875,388 57.75%
- 7. Real Estate Growth Trends Strategic Advantages RETAIL SECTOR Retail 3Q12 3Q13 % Change Existing SF 372,074,288 374,543,184 0.66% Vacancy 8.40% 7.60% -9.52% New Deliveries YTD (SF) 1,854,426 1,877,493 1.24% Absorption (SF) 3,436,903 3,411,436 -0.74%
- 8. Real Estate Growth Trends Strategic Advantages INDUSTRIAL/MANUFACTURING SECTOR Industrial 3Q12 3Q13 Existing SF 779,028,445 782,778,360 0.48% Vacancy 8.80% 7.80% -11.36% 372,322 2,089,793 461.29% 8,574,106 7,382,427 -13.90% New Deliveries YTD (SF) Absorption (SF) % Change
- 9. Fast Growing Submarkets Strategic Advantages
- 10. Overview 18,000 ACRES, MASTER PLANNED – 35,000 JOBS Denton 20 min. DFW Airport 20 min. FW CBD 20 min.!
- 11. Overview Strategic Advantages ECONOMIC ENGINE TO NORTH TEXAS DEVELOPMENT STATISTICS § $7.71 billion invested § $43.74 billion economic impact § 32.7 million+ SF developed § 344 corporate residents § 65 companies listed on the Fortune 500, Global 500 or Forbes’ Top List of Private Firms § 35,000+ employees § Fastest growing area of the nation’s fastest growing metropolitan city (500,000+) § Population of 1.5 million within 15 miles of Fort Worth Alliance Airport AllianceTexas Corporate Base
- 12. Alliance Gateway Strategic Advantages 17 MILLION SQUARE FEET DEVELOPED
- 13. Alliance Center Strategic Advantages 3.6 MILLION SQUARE FEET DEVELOPED
- 14. Westport at Alliance Strategic Advantages 5 MILLION SQUARE FEET DEVELOPED Photo Date 6.28.13
- 15. ALLIANCE TOWN CENTER – MASTER DEVELOPMENT PLAN
- 16. Alliance Town Center 1.4 MILLION SQUARE FEET DEVELOPED The Boardroom Salon for Men FIVE GUYS ® BURGERS and FRIES
- 17. Alliance Town Center Strategic Advantages ALLIANCE TOWN CENTER NORTH Hillwood Commons I
- 18. Corporate Residents Strategic Advantages INDUSTRY CLUSTERS Automotive Aerospace/ Aviation Logistics Electronics Pharmaceutical/ Health Care Consumer Goods/ Services
- 19. New Growth Strategic Advantages 1.1M SF 2,000 Jobs E-Commerce Fulfillment 788,000 SF 1,000 Jobs E-Commerce Fulfillment 1.3M SF 500 Jobs Manufacturing 445,000 2,000 Jobs Manufacturing
- 20. Impact of the Panama Canal Strategic Advantages WHAT WILL IT MEAN FOR TEXAS? § Expansion delayed until 2015 § Port of Houston well-positioned § Potential for North Texas growth due to inland port capabilities § Strong potential for more export; specifically energy section
- 21. Other Things to Watch Strategic Advantages § Constitutional Amendments – Proposition 6 Water § Transportation Funding Initiatives – November 2014 § Continued Growth of E-Commerce Fulfillment Activity § Continued Growth of Manufacturing Activity
- 22. Strategic Advantages 2014 Economic Forecast: Year of the Rebound? Presented by Mike Berry President, Hillwood Properties November 6, 2013 October 25,2013