Bisnow: Fort Worth State of the Market 2018

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Bisnow: Fort Worth State of the Market 2018

Tuesday, March 20, 2018 - 7:30am to 10:30am

Overview

Fort Worth passes its 2017 checkup with good marks. The industrial, multifamily, retail and office markets in Fort Worth show strong fundamentals with rock-bottom vacancy rates. Strong job growth and in-migration support Fort Worts growth as developers continue to invest, especially in multifamily and industrial. A shining example of the growth in Fort Worth is the Cassco/Simon Center Shops at Clearfork development. It has the buzz of high-end retailers like Tesla and Neiman Marcus, luxury multifamily units and a successful trio of office buildings totaling roughly 340K SF. Fort Worth multifamily is at 96.08% occupancy, and according to CBRE Research, there were 764 units delivered in Q3 2017 and another 7,725 units were under construction. The weighted average monthly rent for Fort Worth was $1.17/SF in Q3 2017. Retail occupancy was at 94.8% in Q4 and the average asking rent went up from $13.71/SF in Q3 to $14.57/SF in Q4. These numbers show great opportunity in this burgeoning market. Join us on March 20th to hear how you can join in!

For more information: Bisnow: Fort Worth State of the Market 2018

Speakers

Organizer / Producer

Attendees on Koss REsource

Sponsors

Contacts

RegistrationEvent RegistrationCall (202) 293-0370
Andy Taft President Downtown Fort Worth, Inc.
Andy is a native of Tampa, Florida and graduated from the University of South Florida with a degree in Marketing. He began his career in commercial real estate with the Florida Commercial Development Association and then joined Grubb & Ellis of Florida as a commercial real estate salesman in the downtown Tampa market. In 1992, he joined the Tampa Downtown Partnership as its Director of Marketing and Business Development. Andy served Shreveport, Louisiana's Downtown Development Authority for six years as its Executive Director and while there was instrumental in relocating City Hall back to downtown, created a new public parking management program and authored the downtown strategic plan. Andy was Chairman of the United Way of NW Louisiana in 2001. Andy was also the President of Downtown Shreveport Unlimited and the Downtown Shreveport Development Corporation. Andy joined Downtown Fort Worth, Inc. (Texas) as President in 2003. DFWI is Fort Worth's downtown advocacy organization and it manages the downtown planning process, two Public Improvement Districts, the downtown Tax Increment Finance District, two city parks, the MAIN ST. Fort Worth Arts Festival and Parade of Lights. DFWI recently developed the JFK Tribute in Fort Worth and is currently working renovate and reopen Heritage Plaza. Andy is a past Chairman of the International Downtown Association, President of the Rotary Club of Fort Worth and serves on the Board of the National Civic League.
Cindy Harris VP, Development Lang Partners
Cindy Harris has managed the development of more than $550 million in mixed use and multifamily projects throughout the United States. She is known as a talented team builder and leader in every aspect of mixed use and multifamily development and project management. Her insights and knowledge come from more than 20+ years of executive level experience: crafting business plans, supervising design teams, negotiating public-private partnerships, expediting rezoning efforts and supervising sales, marketing and property management teams. Cindy has developed high quality projects for a variety of respected and well-known development firms such as Columbus Realty Trust, Post Properties, and the Trammell Crow Company. In her current role as Vice President of Development for Lang Partners, Cindy manages the company's development projects and supervises the asset management effort for the firm's owned properties.
JD Granger Executive Director Trinity River Vision Authority
JD Granger is the Executive Director of the Trinity River Vision Authority (TRVA) which manages a massive flood control and river redevelopment project that creates 12 miles of public urban waterfront in Fort Worth's central business district. Mr. Granger currently serves as board member for Streams and Valleys, Inc., the Fort Worth Zoological Society, Cowtown Marathon and The American Institute of Architects, Fort Worth Chapter. He is an active member of the Urban Land Institute and after serving as Public Member Director for the American Institute of Architects Fort Worth Chapter he was named an Honorary Member in 2008. In addition, the USACE Fort Worth District and the TRVA led by Mr. Granger received the USACE "Good Neighbor" GreenGov Award for outstanding partnership efforts between the two agencies on the TRV project. From 2003-2008, he served as board member for Historic Fort Worth, Inc., and previously served on the Downtown Design Review Board as well as the Cabella's and Downtown TIF boards. Mr. Granger has also contributed to the City of Fort Worth's Downtown Strategic Action Plan on Housing, Access & Circulation Committee, and Open Spaces/Public Art Committee. He earned his Doctor of Jurisprudence from South Texas College of Law and was recognized as a Super Lawyer Rising Star by Texas Monthly Magazine. Mr. Granger also holds a Bachelor of Arts in Economics from Texas A&M University.
Joey Tumminello Associate Institutional Property Advisors (IPA)
Mr. Tumminello is an associate with Institutional Property Advisors (IPA) and is responsible for business development and dispositions in the Dallas/Fort Worth multifamily markets. Since 2015, Mr. Tumminello has facilitated more than $800 million in sale transactions for institutional clients, as well as high net worth investors. Through his in-depth interactions with clients, industry leaders and his team, he understands the critical decisions facing investors in today's market. His extensive market knowledge enables Mr. Tumminello to act in an advisory capacity with his clients and provide the customizable solutions they need to overcome challenges and exceed their investment goals. His main areas of expertise include property valuation, implementing marketing strategies and advising clients on the capitalization of current market conditions. Mr. Tumminello holds his bachelor's degree from Texas Christian University in Finance with a concentration in real estate. In his drive to serve as an asset to his clients, he is currently pursuing his CCIM designation.
Julie Wilsey Leasing and Development Cassco Development Company
Julie Wilsey focuses on development and leasing for Cassco Development Co with an emphasis on local, creative and new-to-market retailers, restaurants and project concepts. For over three years with Cassco, Mrs. Wiilsey has collaborated with investors and development partners on all aspects of the development and leasing of the Clearfork project as a whole. Mrs. Wilsey has over a decades of experience at each the Mills Corporation and Gables, as an investment officer working on large retail and mixed-use projects. While at Mills, Julie was VP of Development for The Piers San Francisco, Block 37 Chicago, Opry Mills Nashville and Vaughan Mills Toronto. At Gables, she led retail development and leasing for projects such as West Ave in Houston, Pressler and 5th Street Commons in Austin and Gables Ponce in Coral Gables, Florida. Prior to working for the Mills Corporation, Mrs. Wilsey worked in Washington D.C. in development and leasing of office projects for over a decade. Her clients included Fuji Bank, Freddie Mac and the World Bank. She is a graduate of University of Arkansas with a degree in finance. Mrs. Wilsey currently resides in Austin with her husband and three children.
Michael Becker Principal ?SPI Advisory
Michael Becker is a Principal at SPI Advisory LLC and heads SPI's Dallas, Texas office where he oversees all aspects of property operations, including asset management, property management oversight, accounting and taxation, capital improvement and renovation projects and investor relations. Michael is a lifelong resident of North Texas and a graduate of The University of North Texas with a BBA in Finance. He is married and has two young children. Michael is a 15 year veteran Commercial Real Estate Banker and has originated and managed numerous portfolios of permanent and bridge loans in all major asset classes. Over the last 5 years of his banking tenure, Michael focused exclusively on multi-family properties, where he was the number one loan producer for his division at a Top 3 National lender for his last 3 consecutive years. As a Portfolio Manager, Michael directly oversaw the management and financial performance of the countless C & B class Multi-Family properties he originated loans for. As a result, he accumulated an exceedingly diverse network of suppliers, contractors, consultants and service providers during his tenure. This gives him the ability to quickly and efficiently implement a breadth of value-added strategies for a fraction of the typical cost. View Profile
Sheila Carter VP, Southwest Region Lincoln Property Company
Sheila Carter is Regional Vice President in the Southwest region, overseeing 50,000+ units in Texas, Colorado and Arizona. Prior to returning to Lincoln in 2008, Mrs. Carter was Regional Vice President at Pinnacle Realty and Vice President at ZOM Residential Services. She started her career with Lincoln as a Regional Manager and Regional Director of Marketing and Market Research from 1997 to 2003. Sheila attended University of Maryland University College and studied International Business at University Puerto de Santa Maria in Spain. Sheila holds a Texas and a California Real Estate License.
Stephen Coslik Chairman The Woodmont Company
Expertise Stephen provides the leadership and overall management of The Woodmont Company, known for commercial real estate development nationwide. He directs both the strategic planning and operational aspects of the company, including the corporate vision and strategy, understanding of specific needs of external clients, providing top-notch market knowledge, investment securing capabilities, negotiation, and consulting expertise. Stephen has been instrumental in the direction and growth of the organization, which has grown from 1 employee to our current employee base of over 100 professionals. He also chairs the company's advisory committee. View Profile

Sponsor

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Sheraton Fort Worth Downtown Hotel
1701 Commerce Street
Fort Worth, TX 76102
United States
 

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