Category: News

Congrats to Colliers International’s Billy Vahrenkamp for winning this Tumi suitcase at the NTCAR golf tournament last week.  Billy stopped by the Younger Partners’ offices today to claim his prize. Here’s Younger Partners’ Byron McCoy, Kathy Permenter and Garrett Marler with Billy (and his new suitcase – where are you going with it, Billy?)

Billy went three for three in our airplane toss game in honor of DFW Business Center and 3200 Airfield. Both office buildings are located on DFW Airport property and space available for lease. If you need to be close to (or on) the airport, give us a call. Kathy 214-294-4404, Byron 214-294-4417 or Garrett 214-294-4416.

Hanging out in Fort Worth this weekend & sharing the @YoungerPartners love with a little mobile advertising on the go with @rogerthewagon

Read all of Damon’s article here.

Younger Partners raised more than $1,000 for Carry the Load this Memorial Day. Check out some of the event snapshots:

Some of our walk team

YP’s Kathy Permenter, Tanja Ivandic and Davey McAleavey

Younger Partners Gives Back t-shirt

Our team members walking

More walkers

And more walkers

Younger Partners knows how to network and make deals (and have fun while doing it)! We made the most of  the NTCAR golf tournament on Monday by taking over the 16th tee on the Fazio course at Stonebriar Country Club in Frisco. Here’s just a few of the fun snapshots from the day.

Sarah Savage, Byron McCoy and Kathy Permenter clown around with our airplane game. We were promoting the vacancies available at DFW Business Center at 3200 Airfield; which made an airplane game ideal.

Kathy was impressed by Brad Lipton’s choice of hats.

Byron McCoy & Kathy Permenter

Byron McCoy telling a group of brokers about the leasing opportunities available at DFW Airport.

We love our people! Byron McCoy & Tanja Ivandic

Super cool giveaways! Credit card sized bottle openers sporting the DFW Business Center logo.

Frisco EDC’s Jim Gandy, YP’s Moody Younger and Kathy Permenter, FEDC’s John Bonnot and YP’s Byron McCoy

Stream’s JJ Leonard flies an airplane.

Biel Partners’ John Bielamowicz

Byron and Kathy talking DFW Business Center leasing

Rosemont’s Kirby White

PMRG’s Kurt Cherry

paper airplanes

Intern Parker Morgan and broker Carson Rice

The party hole! YP’s Ally Price, Colliers’ Lindsay Wolcott, YP’s Savah Savage, Britnai Stegall and Tonie Auer

SRS’ Tyler Isbell

YP’s Trae Anderson shows his Sooner pride!

Lexington’s James Dudley, YP’s Trae Anderson and Sean Dalton, and Colliers’ Billy Vahrenkamp.

The Weitzman Group’s Bob Young, YP’s Moody Younger and Bob’s golf teammates

Some of the YP team: Carson Rice, Ally Price, Britnai Stegall, Lacey Queen, Moody Younger, Tonie Auer and Kathy Permenter

Is there anyone in DFW commercial real estate who doesn’t know our very own Trae Anderson? No? We didn’t think so. He’s larger than life and knows the ins and outs of dealmaking. Part of that is the art of the schmooze. We found him at Stonebriar Country Club in Frisco (and so did Bisnow) yesterday networking on the Fazio course.

Here’s Lexington’s James Dudley, YP’s Trae Anderson (and those sweet red golf shoes) and Sean Dalton and Colliers’ Billy Vahrenkamp.

Trae even has his lucky OU golfball.

And, a Sooners golf club cover.

The lucky red shoes = a great shot.

And, then a little supervision of how Carson Rice should re-load the cooler with more beer and cold ice.

Here for you, any time – any day. This group of creative, ambitious and talented professionals is prepared for any situation. From start to finish we’ve got you covered.

Look for us in Bisnow DFW on Monday June 6.

Today, Younger Partners celebrated four years of serving DFW commercial real estate.

That deserves a toast!

Some highlights since our 2012 launch:

We originally started as an office leasing services firm and have since added industrial, property management, investment sales, and tenant representation.

We added industrial in 2013, investment sales in 2014, property management in 2014, multifamily investments sales in 2015, and established a tenant representation division in 2016.

Today, we lease and manage more than 7 million square feet of properties with 17 brokers and 50 employees (about half in brokerage and half in property management).

We’ll drink to that!

Cheers!

Memorial Day is more than just a day to barbecue and celebrate a day off work, but many people struggle to even know the difference between Memorial Day and Veterans Day. Learn more below about Memorial Day history and the military, law enforcement, firefighters and rescue personnel we support – See more here.

Please consider giving. Younger Partners is endeavoring to raise $2,000. You can contribute here.

Do you need office space close to DFW Airport? How about on the airport property? We have a great place just for you and it was featured in Bisnow.

Our volleyball team killed it last night at the Sandbar Cantina. (And they look good doing it, too!)

Pictured: Davey McAleavey, Tanja Ivandic, Garrett Marler, Britnai Stegall, Nicole Musto and Carson Rice.

How will you honor our fallen on Memorial Day? Younger Partners is participating in Carry The Load and its mission to restore the true meaning of Memorial Day while raising funds for veterans and charities that support them and first responders.

Read the story of Rex Harrison St. John, just one of these fallen heroes we’ll be carrying and consider contributing to the cause.

Will you consider giving to our team?

Friends and Colleagues,

We at Younger Partners are participating in Carry the Load this year and joining in the effort to bring meaning back to Memorial Day.  We have set up a personal fundraising page to help raise support.

Younger Partners is partnering with Carry the Load for the first time to raise funds to support causes that benefit veterans and first-responders, as well as to remember and honor friends and family who paid the ultimate price in service to our nation and our communities. Our company goal is $2,000. With your help, we should beat our goal and raise even more money for this wonderful organization.

Carry The Load provides opportunities for Americans to connect with the sacrifices of our military, law enforcement, firefighters, and rescue personnel.  Please support me in this great cause.  To learn more about the organization, visit www.carrytheload.org.

You can go directly to my fundraising page to support us using this link.

Thank you in advance for your support.

73,400 SF building available within walking distance to The Four Season’s Resort at Cottonwood Court (1159 Cottonwood Lane in Irving)
*4/1,000 parking ratio
*renovated lobby and common areas
*entire 73,400 SF building available, divisible to 18,000 SF
*prime location across from the Four Season’s Resort
*covered and surface parking available
*Four Season’s Cottonwood Valley golf course views
*common area dining room with full kitchen
*large, efficient floor plates
*located 20 minutes from downtown Dallas

By Greg Grainger, Younger Partners Property Services President

What is the dividing line that separates achievers from dreamers?  Attitude. Achievers have a can-do attitude that sets them apart from mere dreamers. Achievers are sold out to success—no matter the obstacles—and they are willing to put forth the effort and pay the price of success.

Here are 10 tips to reveal your own can-do attitude:

1. Disown your helplessness. Can-do people aggressively pursue solutions, and, in the process, uncover creative solutions others never even try to find. Rather than wallowing in helplessness, can-do leaders search diligently to overcome the obstacles in front of them.

2. Take the bull by the horns. Can-do people are fearless. They go straight to the source of their solution. Their very effort commands attention as they wrestle a problem to the ground with expediency. They don’t wait; they initiate.

3. Enter the no whining zone. Can-do people abstain from complaining. They recognize its futility and guard their minds and mouths against indulging in this time-wasting activity.

4. Put on another’s pair of shoes. Can-do people empathize with others. They attempt to see any predicament from the other person’s perspective in order to make the best decisions.

5. Nurture your passion. Can-do people are immune to burnout. They love what they do because they’ve learned how to fuel the fire that keeps them moving. The prize is not given to the person who’s the smartest, nor to the person with the advantages in resources and position, but to the person with passion.

6. Walk the second mile. Can-do people exceed expectations. While others settle for an acceptable solution, they aren’t satisfied until they have achieved the unimagined. They set expectations for themselves higher than what is dictated by the people or situations around them.

7. Quit stewing and start doing. Can-do people take action. While others are crippled by worry, fear and anxiety, they have the fortitude to press forward. The perfect moment when all is safe and assured may never arrive, so why wait for it?

8. Go with the flow. Can-do people can adjust to change. They don’t get caught griping about an unexpected curve in the road. They accept transition with an optimistic outlook.

9. Follow through to the end. Can-do people not only initiate, they finish. They are self-starters with the capacity to close the deal.

10. Expect a return as a result of your commitment. If you make an all-out commitment with a can-do attitude, expect a return. Passionate commitment is contagious, and resources follow resolve. Committed leaders will reap rewards and find open doors as others are drawn to the excitement and energy emanating from them.

The golf course is always a great place to do business whether you’re playing or watching the greats. 

Here’s our very own Ally Price, Carson Rice and Tanja Ivandic making the most of the moist conditions on Thursday. Should be gorgeous today and the rest of the weekend.

Quiet please.

Perfect weather, the great game of golf and good friends! Here’s Younger Partners’ Carson Rice, Lacey Queen, JLL’s Grant Matthews, YP’s Garrett Marler and Tanja Ivandic having fun at the Four Seasons.

Younger Partners’ Kathy Permenter entertained the brokers on the “NTCAR” North Texas Commercial Association of Realtors office tour of Las Colinas and Freeport this morning.

Among the featured properties are three Younger Partners leases: 122 West, 1231 Greenway and 3200 Airfield.

More Younger Partners brokers on the tour: Garrett Marler, intern Parker Morgan and Carson Rice.

Interested in some awesome office space? Reach out to us. http://www.youngerpartners.com/team/

The Texas economy slowed in March in the wake of lower oil prices, a strong U.S. dollar, and a weak global economy. That’s the summary of Luis Torres and Wayne Day for the Real Estate Center at Texas A&M University. The duo’s research shows that the number of jobs in the state decreased in March, although annual employment grew primarily due to the services sector, trade, and leisure and hospitality. The unemployment rate ticked up with increased participation in the labor force. Texas manufacturing and mining and logging employment declined, while services continued a positive trend. Texas housingdemand improved moderately although Houston exhibited more pronounced weakening.

The Texas Leading Index, which signals future directional changes in the business cycle, edged up in March 2016, although the overall trend has been declining since its August 2014 peak. The index was negatively affected by declines in well permits, Texas value of the dollar, the help-wanted index, and average weekly hours worked. The index was only positively affected by moderate increases in oil prices, stock prices of Texas-based companies, and a dip in new unemployment claims. The Texas Business Cycle Index, which measures current economic activity, continued its positive trend in March.

Texas Housing demand showed some signs of gaining strength. In March, statewide housing sales increased 8.5 percent year-over-year on a seasonally adjusted basis (positive 7.2 percent not seasonally adjusted). Austin, Dallas-Fort Worth, and San Antonio continued to register an increase in sales. Houston dropped 0.9 percent year-over-year seasonally adjusted (positive 2.9 percent not seasonally adjusted), reflecting the impact of the energy sector decline. Overall, Texas housing sales, after slowing down in prior months, appear to be growing at a more rapid pace.

On the supply side, the number of building permits issued in March increased moderately in Texas although still below the rate of growth for the U.S. Austin recently experienced positive year-over-year growth for the first time since April 2015, with eight straight months of uninterrupted increases in permitting. Dallas-Fort Worth building permits leveled off after rapid growth in prior months while Houston and San Antonio posted negative year-over-year values due to the lack of developed lots for housing construction. During March, Houston and Dallas-Fort Worth led the nation in the number of single-family permits issued followed by Atlanta, Phoenix, and Austin.

Months of Inventory of Texas houses for sale remained low at near 3.7 months of inventory in March compared with 5.8 for the nation (seasonally adjusted; around 6.5 months of inventory is considered a balanced housing market). Overall, supply has been restricted due to limited lot inventory and construction labor shortages.

Rising Texas home prices reflect the low inventories resulting from constrained supply and steadily increasing demand. Since 2011, Texas home prices have increased more rapidly than the rate of increase for the U.S. In 4Q15, the U.S. and Texas FHFA Purchase-Only Housing Price Indexes increased from the prior year by 5.8 percent and 7.6 percent, respectively.

West Texas Intermediate crude oil prices averaged $37.77 per barrel in March compared with $47.77 a year earlier. A world oil supply glut pressured oil prices downward in the face of static demand. The decrease in the number of operating rigs in Texas continues in 2016 and has caused oil production to decline slightly after reaching a peak in March 2015. Registering a more pronounced fall in March 2016, market observers expect Texas oil production to fall more forcefully later in 2016.

Texas employment continued to register a positive annual growth rate although it lost 12,000 jobs during March from February. After the employment growth rates in the United States and Texas converged in 3Q2015, Texas continued beneath the year-over-year employment growth rate (seasonally adjusted) for the U.S. during March.

Much of the employment growth occurred in the services sectors, primarily financial services, education and health services, professional and business services, as well in trade and leisure and hospitality. Even with the increase in retail trade employment, retail sales showed some weakness in March as retailers’ perception of economic conditions were mixed in the Texas retail outlook survey. The continued expansion in the services sectors follows the expectations presented by the Texas service outlook survey.

The major losses in March employment occurred in manufacturing and mining and logging. Construction employment grew by 1.3 percent year-over-year seasonally adjusted. Manufacturing employment continued a decline that started in April 2015 with a negative 4.2 percent year-over-year change and monthly job losses. Even with manufacturing employment contracting, the manufacturing outlook survey gave some signs that the sector has possibly rebounded with a positive production index. Both the employment data and the survey outlook could be signaling that a trough has been reached in the sector.

Houston, as expected, registered a more drastic slowdown in overall employment versus the other major metros in the state. Even in the presence of dramatically lower oil prices and drilling activity, total jobs in Houston were 0.3 percent greater than March 2015, despite the loss of 2,600 jobs from February 2016.

Job growth and the decline in the labor force in Texas helped to keep the unemployment rate below the national average. In March, Texas’ seasonally adjusted unemployment rate equaled to 4.6 percent compared with 5.0 percent for the U.S. Labor force participation reversed its trend over the past couple of years from workers opting out of the job market instead of joining the labor force. In the past few months, participation has increased in Texas and across the U.S.

Real total private employee hourly earnings in March fell 1.5 percent year-over-year, registering a lower growth rate than the nation since August 2015. Real earnings in Texas have not consistently remained above January 2007 levels on a seasonally adjusted basis. Real earnings for Austin and Houston have increased above January 2007 levels while Dallas, Fort Worth, and San Antonio have not.

Increases in the Consumer Price Index have been suppressed and remain low in the U.S. as a consequence of low oil prices and a strong dollar that has made imports cheaper. The Consumer Price Index for Dallas posted negative rates of year-over-year change from January 2015 until December 2015 when it registered a value above zero and then in March 2016 a positive 0.6 percent. The Consumer Price Index for Houston year-over-year change was 2.0 percent in February 2016.

Because of weakening global demand, lower oil prices, and a stronger dollar, U.S. and Texas exports of all commodities and manufactured goods fell in 2015 and continued to fall in March 2016 year-over-year. But the monthly gains give a possible sign that maybe a trough has been reached. The real trade weighted value of the U.S. dollar steadily increased for both the U.S. and Texas. This reflects the appreciation of the U.S. dollar with respect to world currencies, making U.S. and Texas exports more expensive to foreign buyers.

Note: Recent changes in the Real Estate Center’s data reporting have included shifting from reporting on Multiple Listing Service (MLS) areas to a Metropolitan Statistical Area (MSA). In this report, the respective charts reflecting these changes include Months of Inventory and Housing Sales.