Real Estate Corner – August 2020

by Ron Holmes

There is no doubt, at least from our perspective, the COVID-19 pause is taking its toll on commercial real estate development. The exceptions appear to be single-family lot development and single-family residential construction, both of which continue at a strong pace. I expect the pause to continue until the capital markets rebound and solidify, during which time construction prices might actually fall (that old supply and demand principle). In the interim, I believe all you real estate types are looking for opportunities.

Since our last newsletter and continuing during the COVID-19 pause, we have been fortunate that our clients continue to make it happen, as the following illustrative transactions reflect:

• Represented Purchaser in the acquisition of approximately 50 acres in Denton, Texas for single family lot development.
• Represented Developer in the development and construction of 12 residential condominium units at a West Texas golf resort.
• Represented Seller in the sale of approximately 120,000 square foot industrial warehouse and distribution center in the southeast portion of the DFW Metropolitan Area.
• Represented Landlord in the leasing of approximately 121,000 square foot industrial warehouse and distribution center in the I-30 corridor of Dallas, Texas.
• Represented Landlord in the leasing of approximately 13,000 square foot industrial warehouse and distribution center in Tarrant County, Texas.
• Represented Landlords in granting to tenants COVID-19 driven rent deferrals and rent abatements and corresponding loan modifications.