Boone Nerren is a frequent guest on the Champions DFW Commercial Realty Radio Show and Podcast. He has a profound insight on the commercial real estate market in the Dallas / Fort Market including large market opportunities and secondary markets. This is an excerpt of Boone’s recent conversation with Jim Kelley and Ron Taylor. Then, enjoy a free download of the podcast.
Jim Kelley: Talk to us for a few minutes about what you’re seeing, and maybe what you’re involved with, and how you’re going about your development investment opportunities.
Boone Nerren: Sure, and we have large market opportunities as well, and I know those are great headline grabbers. And that’s a great place to start, because those things trickle down, and we talked just then about the number of ways that vendors, and the suppliers, and reps can get involved from the big ITTs, NTTs, and such that are coming, Hillwood Developments, etc. What’s also happening is an infusion of activities in smaller markets, and we are beginning to expand. Just 30 miles to the south, we are putting together a 212-multifamily complex in Ennis, Texas. Jim and I are in the early stages of working with the city of Weatherford and creating some things with another one of Champions clients in terms of some opportunities that could develop along the strip in Weatherford between the junction of 180 and 30 and back into downtown Weatherford. And so the expansion outside of just what’s in the core metroplex is starting to create opportunities in these secondary markets.
Ron Taylor: It’s a shot in the arm for these secondary markets, these small communities that really welcome, you know, things like this.
Boone Nerren: Cities like Ennis and Weatherford, Paris, Commerce, Sherman, Denison, these are all vibrant, dynamic markets that also need opportunities, and there are a number of us who live in suburban areas that better serve and have opportunities for businesses to reach out to these urban markets and secondary markets as well. Downtown’s great, but it’s also great to know that you don’t have to be downtown with your business to be able to tap into some of these other opportunities. So it’s great to see what’s going on…both in the core of urban downtown and then in the secondary markets around it.
Ron Taylor: One last comment, folks, and it’s not just we’re talking about jobs across the sector here, career opportunities, high level positions, I’m sure, and, you know, jobs that would serve in a service position, and so all kinds of opportunities, and, Boone, I appreciate you pointing that out. Really good.
Jim Kelley: So you’re being attracted to the secondary markets, and we’re seeing that a lot. I mean, I spent some time the other day, and I know you got a project in the Tyler area. I was in Lindale, just north of Tyler. They’re wanting to recruit development, and they’ve got retail and industrial opportunities in Lindale, Texas. And so what are some of the drivers, obviously there are prices, there’s a need for some of that, but what are some of the other drivers that are attracting you and driving you to some of those secondary markets, Boone?
Boone Nerren: Well, one of the main things, I mean, we can see in Dallas-Fort Worth, you drive around the core areas, you talk about the 7th Street revitalization area…