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Commercial Real Estate

Greg Biggs: Staying Patient through the Summer Slowdown

As we get back to work after the 4th of July holiday, we are reminded that the business world in Dallas slows down during July and August. Although there have been a few significant office deals announced recently, leasing momentum has hit a stall, according to a number of brokers in town. This is typical of our market.
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Greg Biggs

Summer is definitely upon us. As we get back to work after the 4th of July holiday, we are reminded that the business world in Dallas slows down during July and August. Although there have been a few significant office deals announced recently, leasing momentum has hit a stall, according to a number of brokers in town. This is typical of our market. Summer vacations to cooler or tropical destinations are common this time of year.

That being said, expectations for Dallas-Fort Worth continue to remain high. The election of our new business-minded mayor generates continued momentum for the recruitment of new corporations to North Texas. The national support and united enthusiasm for our NBA World Champion Dallas Mavericks has put a bright spotlight on our community. The completion of the Woodall Rodgers Park will enhance the Dallas Arts District’s reputation as a world-class destination, and the arch of the Calatrava Bridge adds yet another distinct landmark. There are many other transformational projects and plans that are positively impacting our community.

With all of that being said, patience is a word that comes to mind. Coming from a real estate broker who has very little patience, this may seem ironic. But summer will soon turn to fall. Leasing activity will improve again, and North Texas will continue to provide an environment in which both its businesses and citizens can excel.

Our collective job is to continue to dream of ways to improve our community—and to make those visions happen. We have proven time and time again that great ideas can be achieved; sometimes it just takes a little longer than we had hoped.

Greg Biggs is an executive director at Cushman & Wakefield. Contact him at [email protected].

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