William R. Cawley

In every business, every friendship, every transaction, or lease negotiation, it is all about the relationship—the relationships that existed before the deal, the ones that are formed during the deal, and the ones that are there when the deal is completed. Sometimes relationships are solidified during the deal-making process; sometimes they can become strained or broken.

No longer is time on the tenant’s side. Quality available space is getting absorbed, with Uptown, Preston Center, Legacy Tollway, and Richardson submarkets seeing the most activity.

Early in my real estate career, as I was trying to build my brokerage business, I dreamed of someday becoming a developer. To me, the lure of development was driven by my desire to make a mark on the real estate marketplace.

Aggressive lending is driving the market activity and creating an opportunity for buyers and sellers. Buyers are able to lock in great loan terms for up to 10 years. Sellers are bringing assets to market because the low rates and higher leverage is allowing buyers to pay more. All of this is combining to create the most activity we have seen in Dallas-Fort Worth in years.

The hottest office market in Dallas in the last six months has been the Legacy and Dallas North Tollway area. The only spec office building in the market of any significance is under construction there, and developers are fighting over the good remaining development sites.