Deal finalized for new global headquarters of Toyota Group spinoff

A real estate deal to bring the new global headquarters of a Toyota Group spinoff — Toyota Industries Commercial Finance Inc. — to Dallas has become finalized, officially following in the footsteps of sister company Toyota North America.

Torrance, California-based Toyota North America is building a new corporate campus in Plano to consolidate its North American operations under one roof.

Read More Here on the Dallas Business Journal

Galderma looking to expand its U.S. headquarters in Fort Worth, add 342 new jobs

Fort Worth-based Galderma Laboratories LP would like to expand its U.S. headquarters with a new 100,000-square-foot facility in the Interstate 35W corridor in north Fort Worth that could become home to 342 new jobs.

But the deal is contingent on state and local economic incentives, which have yet to be approved.

The international manufacturer of dermatological products could also choose to expand its operations with a new facility in Granbury, New Jersey.

Read More Here on the Dallas Business Journal

General Motors buys huge building in North Austin

General Motors (NYSE: GM) has purchased a large office building in Austin to expand its IT Innovation Center — a business division the automaker created in 2012 to bring its IT functions back in house. Currently, there are four GM Innovation Centers across the country — in Michigan, Georgia, Arizona and here in Austin.

The purchase of the 302,604-square-foot building at 13201 McCallen Pass was announced by the seller, Karlin Real Estate based in Los Angeles. The price was not disclosed.

Read More Here on the Austin Business Journal

D-FW net office leasing doubles this year compared to 2014 levels

North Texas’ office market has boomed in the first half of the year, with twice the net leasing the area saw in 2014.

Expanding and relocating businesses rented almost 1.7 million square feet of office space in the first six months of 2015, according to the latest data from Cushman & Wakefield.

And overall office building vacancy rates dropped to about 16 percent — the lowest percentage of empty space since the 1980s, according to the commercial real estate firm’s latest report.

Read More Here on The Dallas Morning News 

Texas was the top U.S. commercial real estate market last year

Last year was the best time for commercial real estate in seven years, according to a new study.

And Texas was the top commercial property market in the country, a report by NAIOP, the Commercial Real Estate Development Association, finds.

The industry group said that commercial real estate’s contribution to the national economy rose by 40 percent in 2014 from the previous year.

Read More Here on The Dallas Morning News 

Dallas metro area ranks 3rd in nation for jobs

The Dallas metro area, which includes Plano and Irving, is the third best big city for jobs, according to Forbes’ most recent national rankings.

The area experienced a 4.2 percent increase in the number of jobs last year, bringing the total job growth from 2009 through 2014 to 23 percent. Total employment has gone up 15.7 percent in the past six years.

According to the report, job growth has historically occurred mostly in coastal cities with financial institutions (which were more robust following the 2008 economic downturn due to revitalization efforts) or energy suppliers.

Read more on The Dallas Morning News

Major downtown Austin office project lands site plan approval; will financing follow?

McCourt Global, the development partner on the proposed Waller Creek mixed-use project near Cesar Chavez and Red River streets, said Wednesday that a site development plan has been approved by the city.

What this means for moving the 2 million-square-foot project forward isn’t entirely known, given that financing still must be lined up and the development has yet to receive a formal name. The design and configuration also continue to be hashed out.

Read More Here on The Austin Business Journal

Why developers are going ‘pure spec’ in Frisco’s $5B Mile

As Frisco’s ‘$5 Billion Mile’ begins to take shape in the one mile stretch of roadway off the Dallas North Tollway, the Dallas Business Journal held a Corridors of Opportunity event focused on the 549 acres slated for high-end development.

The event Tuesday morning brought in more than 660 North Texas executives and professionals looking to learn more on the projects behind the $5.4 billion of real estate investment.

Read More Here on the Dallas Business Journal