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Downtown Office Occupancy.

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#1 Austin55

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Posted 22 January 2016 - 01:04 AM

Falling Oil and Gas prices really hurting the downtown market. 

 

http://www.star-tele...le55899820.html



#2 Jeriat

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Posted 22 January 2016 - 03:22 AM

Guess it's time to find another industry...


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#3 renamerusk

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Posted 22 January 2016 - 09:03 AM

At least we can be thankful for Jetta! :)



#4 JBB

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Posted 22 January 2016 - 09:04 AM

Guess it's time to find another industry...


You really think prices won't recover at some point? I agree that adding more diverse industry is good, but oil and gas will bounce back.

#5 RD Milhollin

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Posted 22 January 2016 - 10:51 AM

Unfortunately low fossil fuel prices takes some of the wind out of the sails of alternative, sustainable energy sources. In the long run fossil fuel is a loser though, as supplies are inherently limited and people, governments, even non-representative ones, are pressured to find ways to alleviate the mess burning them leaves behind. There are of course some areas in which fossil fuels, particularly petroleum are irreplaceable in the foreseeable future; think jet fuel. But for many of the more mundane uses we on the ground burn coal, gas, and petroleum products, there are more rational and cleaner sources to draw from. This is of course not to say petroleum and coal don't have important uses; medicine, materials technology, containers, and many other areas of production benefit from these resources and would be hurt if they should become scarce in the future. Fort Worth should actively seek out companies to take advantages of these concepts  in future energy, medical research and manufacturing and materials sciences to make better use of the resources being mostly burned up in today's economy.



#6 Russ Graham

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Posted 22 January 2016 - 10:53 AM

Guess it's time to find another industry...

 

What's this about needing another industry?  Beef prices are solid!  Cowtown's in great shape!



#7 Jeriat

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Posted 22 January 2016 - 03:13 PM

 

Guess it's time to find another industry...


You really think prices won't recover at some point? I agree that adding more diverse industry is good, but oil and gas will bounce back.

 

 

Not saying they wont, but my point still stands.

I'm looking for ways to contribute and build, even if it is small... for the moment. 


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#8 Urbndwlr

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Posted 10 February 2016 - 01:38 PM

The headline of that article was negative but if you read more in this and the FWBP article, the speaker's forecast really wasn't THAT pessimistic. 

 

This energy downturn serves as a reminder to Fort Worth that we as a community need to constantly be recruiting and growing a wide variety of companies. 

 

Fort Worth has had some exciting news on growth in life sciences:  Smith & Nephew growing, relocating talent here, Galderma expanding, TCU/UNTHSC launching MD program, Moncrief Cancer & UT Southwestern launching/growing research and teaching/residency positions in Fort Worth.

And on the STEM front, UTA and UNT have been named Tier 1 research institutions - which is GREAT for increasing talent and R&D activities at both universities. 

Now, for Fort Worth - let's go attract and grow the commercial side of this to build the next generation of great local companies!

 

 

 

Falling Oil and Gas prices really hurting the downtown market. 

 

http://www.star-tele...le55899820.html



#9 renamerusk

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Posted 06 March 2017 - 12:22 PM

Here's an article in Fort Worth Business about the changing downtown office market:

 

http://www.fortworth...3068cdd5bb.html

 

 Good idea!.  A campaign to introduce or to have the developers from the eastern half of the metro area to Downtown.  Maybe there is hope that this will produce some results.  

 

I do like the current trend of more hospitality projects for the city.  Tourism may turn out to be a better and more stable economic engine for Downtown than office development. 



#10 renamerusk

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Posted 10 June 2017 - 11:51 AM

 

 Good idea!.  A campaign [Chamber/DTFWI]  to introduce or to have the developers from the eastern half of the metro area to Downtown.  Maybe there is hope that this will produce some results.  

 

 Hillwood moving to Downtown.

 

This is a positive development; but as long as Sundance Square absorbs new tenants to its properties, new speculative projects will be hampered. 

 

I hope that the recently announce campaign to attract new office development into Downtown is successful in attracting new, non-Sundance Square investment into Downtown. Otherwise, it seems that the campaign may simply aid in filling office space for Sundance Square Properties. 

 

To me, this why Jetta OperatingsTower is such a remarkable phenomenon and bold step; and why I hope for more developers to come in and challenge "Fortress Sundance".

 

Hillwood, please speculate in Downtown; it would be greatly appreciated; and a nice way to show some appreciation for Fort Worth's part in Alliance, your premier commercial development.

 

FWBP - http://www.fortworth...e9ea3369a5.html



#11 Austin55

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Posted 16 June 2017 - 03:28 PM

Click over to pages 12-19 for some details on the downtown office market

 

https://issuu.com/do...2016_state_of_d



#12 renamerusk

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Posted 16 June 2017 - 05:40 PM

Too shaken to read the fine print...what's the final verdict? :swg:



#13 Jeriat

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Posted 16 June 2017 - 09:41 PM

Like I said last year...

Guess it's time to find another industry...


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#14 Austin55

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Posted 24 June 2017 - 03:04 PM

GM Financial will soon be largest employer downtown.

 

http://www.star-tele...e157935444.html



#15 renamerusk

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Posted 24 June 2017 - 03:26 PM

GM Financial will soon be largest employer downtown.....

 

 

Like I said last year...
 

(1) Guess it's time to find another industry...

 

 

Two points -

 

- FWST acknowledges that Downtown has changed and is continuing to change

 

- The industry that Downtown is looking to find ought to be residential and tourism.



#16 rriojas71

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Posted 24 June 2017 - 06:04 PM

GM Financial will soon be largest employer downtown.....

 
 

Like I said last year...
 

(1) Guess it's time to find another industry...

 
Two points -
 
- FWST acknowledges that Downtown has changed and is continuing to change
 
- The industry that Downtown is looking to find ought to be residential and tourism.

Downtown needs jobs as well... residential and tourism only goes so far before it can't sustain itself without jobs for it's residents.

#17 John T Roberts

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Posted 24 June 2017 - 07:18 PM

This news that GM Financial will soon be the largest private employer is surprising.



#18 Austin55

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Posted 24 June 2017 - 07:45 PM

I don't think many people know they are even here. In fact, they are headquartered here. I've always wondered how they ended up in FW rather than Detroit.

#19 renamerusk

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Posted 24 June 2017 - 07:46 PM

 

Downtown needs jobs as well... residential and tourism only goes so far before it can't sustain itself without jobs for it's residents.

 

If that is true, then why do most employees commuter to jobs outside of their neighborhood?

 

The future jobs will become more and more digitally driven.  Service base jobs can be performed out of the home and with telecommunication. These are the kinds of micro jobs that can populate Downtown.  When tourism, conventions, hospitality in added to the mix, it will go a lot farther than we are allowing ourselves to believe.

 

I argue that remaking Downtown into a place characterized more by the two sectors - residential and tourism/entertainment will in itself be self sustaining when and if a critical mass of these sectors is reached.  Envisioning a different kind of central core that has evolved over the next 10 or so years will make it less vulnerable to business decisions of expansion and deflation.

 

In any event, the old model of manufacturing and concentrating workers in towers is fading away; and what competition there is for these sectors is very intense.  I would say that the outer suburbs are currently winning this competition.  However, a different Downtown may be the opportunity to win more of the competition.



#20 JBB

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Posted 24 June 2017 - 10:16 PM

I don't think many people know they are even here. In fact, they are headquartered here. I've always wondered how they ended up in FW rather than Detroit.


I was aware of their operation in south Arlington but I had no idea they had that many workers in FW.

#21 bailey

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Posted 25 June 2017 - 09:11 PM

GM Financial was created when GM bought AmeriCredit with the purpose of making it their captive finance company.  Americredit was a spinoff of URCARCO which was a Fort Worth company.  Americredit had their corporate office in downtown Fort Worth and their operations center split between downtown and a service center off 121.  They later moved their servicing operations to Arlington though some functions remain in downtown Fort Worth.



#22 johnfwd

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Posted 26 June 2017 - 06:00 AM

And I believe the predecessor of these as relates to auto financing was General Motors Acceptance Corporation (GMAC). 



#23 renamerusk

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Posted 26 June 2017 - 10:12 AM

The current debate is morphing into being more about an individual tenant and less about the overall issue surrounding DOO.  :swg:



#24 Austin55

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Posted 13 July 2017 - 08:48 PM

Bisnow - How Downtown Fort Worth’s Office Oversupply Could Help It Lure Big Tenants



#25 renamerusk

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Posted 09 August 2017 - 06:52 PM

All is not lost.  UMB Tower?

 

http://www.fortworth...259ce06cf4.html



#26 Austin55

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Posted 09 August 2017 - 08:50 PM

I don't know if it's been mentioned, but XTO has a presence in 777 as well. Completely forgot about that. Even more space to fill (but should be easier being class A)

"XTO Energy extended its 33k SF lease at 777 Main St in Fort Worth with F7 SSSM. Transwestern principal Whit Kelly repped the landlord."

Read more at: https://www.bisnow.c..._medium=Browser

Does anyone remember where the Frost banking branch was? Was it along the Commerce streets side of the first floor? It'd be nice to see that side given a makover like the Main St side.





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