Demand for land within Dallas’ premier Uptown submarket prompts ownership group to put sites on the market
JLL selected to lead sales effort on exclusive opportunity in high-demand submarket
DALLAS, March 6, 2019 – With available land for development in short supply in Dallas’ Uptown submarket, Teixeira Duarte has selected JLL to lead the marketing and sales efforts for two parcels of land in the Turtle Creek area of the submarket. JLL Capital Markets Executive Vice President Jorg Mast and Vice President David Godvin are leading the sales and marketing efforts for the sites.
The first parcel is located at the corner of Dickason Avenue and Hood Street; the second parcel is located at the corner of North Hall Street and Turtle Creek Boulevard, across the street from Oak Lawn Park.
“The amount of growth we’ve experienced across North Texas, especially in the Uptown submarket, is unprecedented,” said Mast. “Over the past several years, we’ve welcomed thousands of new residents and employees from across U.S. to this historic area. This exclusive listing offers developers two of the final opportunities to create their own legacy within this unique and niche community.”
According to JLL’s 2019 Construction Outlook, though material costs make up a large portion of any overall project budget, they account for very little of the cost difference between cities and states. Instead, most of the cost variance between cities across the U.S. comes from differences in labor costs, which are driven by a combination of local regulations, unionization rates, and overall cost of living differences. Texas’ historic pro-business economic fundamentals, its status as a right-to-work state, and overall low cost of living are major attractors for perspective investors and developers.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 90,000 as of December 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com