North Texas has been selected for Amazon’s newest distribution center.
The City of Forney made the announcement in a news release Wednesday afternoon.
The Seattle-based corporation has already begun construction on a 200,000 square-foot center, according to the City.
Officials say the distribution center will be located in the Gateway Development. It’s expected to be completed by late 2020.
“The City is excited to add Amazon to our growing portfolio of businesses in the commercial sector,” officials said in a written statement.
The announcement comes just days after the e-commerce giant confirmed it plans to hire 1,000 workers at a new warehouse near DFW Airport.
An Amazon representative told our partners at the Dallas Business Journallast year that the Seattle-based e-retailer had more than 22,000 full-time jobs in Texas and had invested more than $7 billion in the state since 2011.
By Jozelyn Escobedo – WFAA
Driven by consistent job growth, in-migration, and a slew of corporate relocations, Dallas-Fort Worth’s apartment market lead the nation in demand and number of units completed this past year.
In 2019, developers added around 21,000 units to Dallas-Fort Worth, and net absorption, the difference between move-ins and move-outs, came in at about 22,000 units.
Despite continued construction, vacancy rates are hovering near 8%, close to the average over the current development cycle. Builders remain active in the metroplex, with about 34,000 units under construction, or 5% of its inventory.
Premier suburbs to the north are leading absorption in the market. In 2019, the Frisco-Prosper submarket and Plano led in absorption, accounting for 20% of all absorption for the market.
Multifamily investors continue to pour capital into the North Texas multifamily market. Annual transaction volume reached $5 billion in 2019, about the same level as in 2018. Meanwhile, the price per square foot continues to climb as well, reaching $134,000 a unit.
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Charles Schwab, Toyota and Jamba Juice are three very different companies with one thing in common: They moved out of their California headquarters to make a new home in North Texas.
Companies have been leaving California in droves for years, with an estimated 13,000 businesses moving out between 2008 and 2016. As company executives search for states with more business-friendly tax climates and affordable housing options, many have found what they are looking for in North Texas. As the great corporate migration spreads north from Dallas-Fort Worth through Frisco and McKinney, the area next in line is the flourishing city of Anna.
“Many companies have moved to Collin County after seeing the amazing opportunities this area has to offer,” Anna Economic Development Corp. Director Joey Grisham said. “Anna offers these businesses a pro-growth mentality, ample land options and the housing affordability that many company decision-makers are seeking.”
by: Julia Troy, City of Anna, EDC
A big chunk of Richardson’s Telecom Corridor is getting a new name.
Since the early 1990s a stretch of U.S. Highway 75 between LBJ Freeway and Bush Turnpike has been known as the Telecom Corridor – named for the many telecommunications companies that once lined that highway.
These days that’s somewhat of a misnomer, since some of the biggest employers in that area are big insurance firms including State Farm and Blue Cross Blue Shield of Texas.
Now Richardson is carving out a big section of the Telecom Corridor, which it will call the Innovation Quarter – or Richardson IQ.
By Steve Brown | Real Estate Editor, Dallas News
Texas rebounded from the 2008 economic recession with a decade-long recovery, and the Dallas-Fort Worth Metroplex in particular was a massive beneficiary, with seven-figure job growth and a massive population surge.
The Lone Star state attracted 563,945 new residents from other U.S. states in 2018 alone, with more than 200,000 of those residents heading to Dallas-Fort Worth, a new 2018 relocation report from the Texas REALTORS organization says. This growth spurt is certainly not an isolated incident, but rather a decade-long trend in North Texas. The state as a whole attracted more than a half a million people annually for six years in a row leading up to the most recent 2018 report, according to the REALTORS’ report. DFW remains atop new residents’ destination lists.
By: Kerri Panchuk, Bisnow Dallas-Fort Worth
Beginning this spring, Collin County will start talks with landowners to acquire land along US 380 between the Denton County line and Coit Road for a future freeway that could see work begin around 2030.
In December, Collin County commissioners directed staff to acquire land on the future US 380 corridor in two segments: one in Princeton into Farmersville and the other in Frisco.
In 2016, commissioners determined a lack of freeways was the main transportation deficit in the county, Collin County Director of Engineering Clarence Daugherty said. Nearly four miles of land in Frisco will be used for the freeway.
“They identified the US 380 corridor from Denton County to Hunt County all the way across our county as the first priority,” Daugherty said.
The Texas Department of Transportation has conducted a feasibility study, and the county is now working to pin down exactly where this freeway will go, Daugherty said. Next steps typically include an environmental analysis by TxDOT and then land acquisition.
By Elizabeth Ucles, Community Impact Newspaper