Ready to Fall Back?
Starting in 2007, daylight savings time began in the United States on the second Sunday in March and ended on the first Sunday in November. On the second Sunday in March, clocks are set ahead one hour at 2:00 a.m. local standard time, which becomes 3:00 a.m. local daylight time. On the first Sunday in November, clocks are set back one hour at 2:00 a.m. local daylight savings time, which becomes 1:00 a.m. local standard time. These dates were established by Congress in the Energy Policy Act of 2005, Pub. L. no. 109-58, 119 Stat 594 (2005).
Personally, I love to fall back. I find myself actually getting up and out of bed without a crowbar. The "evening" portion of the night is longer and generally more family filled. Sitting by the fireplace reading a good book is so Norman Rockwellian, but it is one of my favorite activities.
The time change is also a good time to remember to check the batteries in your smoke detectors.
Enjoy fall, ya'll!
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| DFW Office Leasing Slide Continues in 3Q |
According to the Dallas Business Journal, the Dallas-Fort Worth office market continued to soften in the third quarter, according to a report by Delta Associates.
The area's office market recorded negative 1.3 million square feet in absorption, compared to a positive 1 million square feet in the first half of 2009. Absorption measures the net changes in occupied space and is the best measure of demand for office space.
Overall office building vacancy climbed to a 17.7% in the third quarter, rising from 16.9% at mid-year and 17% a year ago, according to the report from Delta, the research affiliate of commercial real estate firm Transwestern. Our opinion is that the actual vacancy rate is closer to 27% if you consider multi-tenant office buildings only and ignore single-tenant properties like EDS, JC Penney, etc.
Office rents declined slightly during the third quarter and have slid 4.3% year-to-date. Investment sales volume plunged to $162 million through the third quarter of 2009, compared with $1.5 billion during the same period a year ago.
What's interesting is that landlords are reacting to this bad news very differently. Some are offering lots of free rent, good renovation allowances, and other concessions, while others are just burying their heads in the sand. | |
| New headshots! |
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Check out our new headshots. I (Jan) was so excited to learn the photographer's ability to erase wrinkles. I asked him to walk around with me everywhere but was disappointed to learn he only meant as it pertains to the actual photograph. Bummer!
Bob Gibbons
972-679-1142
 Jan Gibbons 972-998-3305
Jake Deschene
402-429-3946
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| Who Said That?... |
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A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.
Courage is rightly esteemed the first of human qualities... because it is the quality which guarantees all others.
The truth is incontrovertible, malice may attack it, ignorance may deride it, but in the end; there it is.
~Sir Winston Churchill
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| Need Land? |
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One of our corporate clients bought land in McKinney on Eldorado Parkway for a future location, but decided not to build after all.
So the 1.68 acres of land is now on the market for sale for $399,000. It would be perfect for professional offices for medical, a CPA, a lawyer, or even retail.
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| Bob's DBJ Article | Watch the October 23, 2009 edition of the Dallas Business Journal for an article Bob wrote about whether the commercial real estate market is going to crash.
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| Need a Speaker? |
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In the last couple of months, Bob has spoken to a business networking group and the McKinney Lions Club, and participated in a panel discussion on real estate sponsored by Ameriprise Financial. He would welcome the opportunity to speak to your business groups, trade associations, networking groups, and service organizations.
You can see his speaker's bio and topics on the Speaker Coop website. Here is a link. |
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