Private investor buys Greyhound Building in Dallas

The Greyhound Office Building at 15110 North Dallas Pkwy. in Dallas has been sold for the second time in four years.
The previous owner, a doctor living in Anaheim, Calif., sold the property to a local private investor this month who did not want to be identified.

Greyhound, the single tenant, has a lease with the 93,087-square-foot office building extending through 2012, but has already moved out of the property, leaving only its data center behind, according to Marcus & Millichap’s Ron Hebert, a senior associate and director of the firm's national office who handled the deal.

Hebert says the building has been on the market since December of last year. He sold the same building in June 2004.

The six-story office building is located at the northeast corner of Belt Line Road and the North Dallas Tollway.

The final sale price was not disclosed, but the property was listed for $10 million.
Greyhound previously moved its headquarters to the Patriot Tower, formerly Dallas One Center, on St. Paul Street in downtown Dallas. A spokesperson for Greyhound says the company already had operations in the Patriot Tower and decided to consolidate by moving the entire headquarters into one location.

More on Todays

Today’s Texas Real Estate, an innovator in showcasing realtors and real estate, will premiere July 27th, 2008 on Channel 21 at 11:00 A.M. The show is a thirty-minute television program featuring available properties in the Dallas Fort Worth Metroplex.

“Being a realtor myself, I wanted to take an innovative approach to marketing myself as well as my listed properties. This is the reason I started the show”
Executive Producer Lance Simpkins

· Discover a new way to market your listings as well as yourself
· Co-invest in your clients and your image through a visual experience
· Generate more leads to you and your listings via our website
· Earn more respect and recognition as a top realtor in your area

Broadcasting your properties on Today’s Texas Real Estate will drive more traffic, reduce your properties days on market, and generate more leads than traditional marketing.

Contact me today for information on airings and time slots.

Brad Holden
Sales & Marketing
Direct 469.733.2723
Fax (214)-387-8329
b@blitzdfw.com

Demographics

The 11:00 A.M. time slot on Channel 21 on Sundays has had an average of over 20,000 viewers to date from the beginning. This has created a very wide range of viewers due to a non consistent show maintaining its slot. The 10:30 A.M. slot is a show called “Your House and Home” which focuses on Home Improvement. It has been airing now for over 4 years and been very successful in popularity. Today’s Texas Real Estate will immediately air after and we hope to pick up additional viewers being industry related.

Pricing



As you can see the value above, Today’s Texas Real Estate has a value to their clients and will become a leader in the industry creating an awareness of the actual property, the value in comparison to their competitors, and quality of production.

The price for a two minute time slot will only stay at $2,000 until the end of August. If you sign a contract before the end of August your price will remain at $2,000 the entire year!

Today's Texas Real Estate

Todays Texas Real Estate will have it's first airing on channel 21 in the DFW metroplex featuring homes available for sale. The focus is to show the actual home instead of focusing on model homes as Hot On Homes, Channel 8, shows neighborhoods and homes that are examples.

Tune in and see if the hype is all of what it is meant to be. Hotonhomes.com has had a stronghold in the Television market here in DFW, but we will see if TTRE can make an impact which they just might be able to.

Today's Texas Real Estate gives you an exclusive look at the hottest available homes in the Dallas / Ft. Worth area. With the roller coaster trends of the housing market happening all over the country, it can be overwhelming to find the home of your dreams. Today's Texas Real Estate makes it fun and easy to shop for your new home on TV and the web.

Visit www.todaystexasrealestate.com for more details and a replay of the shows.

Also visit www.bimsdfw.com for a list of up to date inventory that builders are attempting to sell quickly in DFW.

Dallas officials urge state to require disclosure of real estate sales prices

12:00 AM CDT on Tuesday, June 17, 2008

By TERRENCE STUTZ / The Dallas Morning News tstutz@dallasnews.com

AUSTIN – Dallas officials Monday urged a Senate panel to require disclosure of sales prices on real estate to boost the accuracy of appraisals used in collecting property taxes.

Dallas City Council member Angela Hunt argued that sales price disclosure would make the property tax system more equitable and eliminate the breaks that many commercial property owners now enjoy because their appraisals are often well below market value.
"Commercial property owners aren't pulling their weight," Ms. Hunt told the Senate Subcommittee on Property Appraisal and Revenue Caps. "And that has created inequities in our system."

Citing an imbalance in appraisals that has forced homeowners to pay more in property taxes, Ms. Hunt said, "I am here today to ask for some fairness."
To illustrate her point, the Dallas lawyer cited negotiations for land that will be purchased by the city for a new convention center hotel. Although the land was listed on the tax rolls as having a value of $7.3 million, the property is expected to cost the city nearly six times that much – or $42 million.

Supporting her calls for reform was the chief appraiser for the Dallas Central Appraisal District, Ken Nolan, who said mandatory price disclosure would greatly improve the accuracy of his agency's appraisals and better ensure that all property owners pay their fair share.
"It's unrealistic to give someone a job and not give them the proper tools to do it," said Mr. Nolan, who is responsible for annually appraising all property in Dallas County. Those values are used by cities, school districts and other entities in Dallas County when they set property tax rates.

Mr. Nolan said arguments that disclosure of commercial sale prices is not workable don't hold much water given that 45 of 50 states require homeowners and businesses to disclose sales prices.

The five-member Senate panel is expected to make recommendations on property appraisals that will be considered by the Senate and House next year.

Lawmakers last year considered a series of appraisal reform measures – including mandatory sales price disclosure – but all except a few minor bills were killed. Business and real estate agent groups opposed the sales price disclosure bill.

A study by Texas Association of Appraisal Districts two years ago estimated that Texas public schools were losing about $4 billion a year in revenue because property appraisers are often unable to judge the true market value of property.

The study found that lack of sales price information has caused appraisers in urban areas to undervalue commercial property by an average of 40 percent and residential property by 15 percent. Multifamily property is undervalued by 25 percent, according to the study.
While Mr. Nolan voiced doubt that that such a large gap has ever existed in Dallas County, he said there is nonetheless a disparity that is the result of not having information on sales of commercial property.

Ms. Hunt said the sales price legislation – opposed by lobbyists for business groups – will be difficult to pass next year "until residents understand that they are getting a bigger tax burden because commercial property owners don't have to disclose sales prices and the real value of their property. Only if they get mad will we see something happen." Dallas City Council member Angela Hunt was among those testifying.

Update . . . it happened.

Jones Lang LaSalle will acquire Staubach Co. for $613 million in cash and stock

June 16, 2008: 06:31 PM EST

NEW YORK (Associated Press) - Commercial real-estate services company Jones Lang LaSalle Inc. said Monday it agreed to pay a total of $613 million in cash and stock for The Staubach Co., a real-estate services company specializing in tenant representation.

Jones Lang LaSalle will pay $123 million in cash and $100 million in stock when the deal closes, and pay the rest in cash payments over five years.

Jones Lang LaSalle could also pay $114 million more in potential earnout payments to Dallas-based Staubach.

The deal is expected to close in the third quarter.

Chicago-based Jones Lang LaSalle expects the deal to help its earnings in 2009 and beyond.
The deal does not include Staubach Retail Services or Cypress, Staubach's investment-development business.