Will Dallas overbuild office again? Probably, but CoStar stats indicate it wont happen any time soon. (So you've got a little time still to finish your panic bunkers.) Vacancies are coming down and trends show that may continue through '15.

CoStar senior real estate economist Francis Yuen (with his girlfriend) says the numbers are similar to the early 2000s tech heyday (15% in some areas). Rent growth in '14 and '15 should be okay, relative to historic norms. Of the 1M SF pipeline for '13, it's almost all build-to-suit projects. Vacancies will continue to come down and the market will be tight. What's harder to prognosticate is how much will come online at once. (The crystal ball is on backorder at the moment.) Deliveries in 2015 shouldn't derail rent growth though, he says. It's like the multifamily market; there's more being built in Dallas than ever, but the demand is there.

Since '09, there's been no meaningful supply of new office space delivered, despite the 275,000 new jobs created since the market bottomed out. That means there is potential for rent growth, Francis says. The two most likely locations: in the Upper Tollway area and Uptown/Turtle Creek, he says. The former is increasingly diversified with an increasing tech presence poaching tech companies from California. The latter has high rents with no immediate new space opening up. This is where the companies who want the top talent want to be, he says, because young pros want to be near bars, restaurants, and luxury apartments.

Bisnow's Future of Office Rocks the House

Almost 500 readers joined us this morning in a standing-room only crowd at the Westin Galleria to hear colorful insights from Billingsley Co's Lucy Billingsley (far right, with KBS' Ken Robertson and Champion Partners' Steve Modory). She was on hand for our second annual Future of Office event; stay tuned tomorrow for coverage and what Lucy had to say. It was one of five events Bisnow held around the country this morning, including in DC, Philadelphia, Baltimore, and Charlotte.

SALES

Capital Commercial Investments sold the almost 147k SF Class-A 100 E Royal in Irving to Westdale Real Estate Investment & Management for an undisclosed amount. CBRE's Eric Mackey, Gary Carr, John Alvarado, and Robert Hill repped the seller.

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GI Partners purchased the 620k SF Regent Commons at 3950, 4000, and 4050 Regent Blvd in Las Colinas for an undisclosed amount from a fund affiliated with Brookfield Asset Management. A Cushman & Wakefield team including Michael Rotchford, David Wenk, Robert Elms, Scot Farber, and Maureen Kelly represented the seller, along with co-broker Cassidy Turley.

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DCT Industrial sold the 81k SF 12555 and 12623 Perimeter Dr industrial complex to a private investment group, which was represented by CBRE's Corbin Crews. Stream Realty Partners' Jamie Jennings and Cannon Green repped the seller.

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An undisclosed, out-of-state buyer purchased two Arlington shopping centers at Arbrook Boulevard and Parks Mall Drive, adjacent to Parks at Arlington Mall:

• The 216k SF Plaza at the Parks power center, which is 85% leased. UCR Investment Sales' Adam Howells, Tommy Tucker, and Kevin Catalani represented the seller, Hunt Properties.
• The 19k SF Parks at Arlington retail center, which is 100% leased. The trio also repped the undisclosed out-of-state seller.

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A franchisee for Taco Bell has purchased a 33k SF pad site on the northwest corner of US Hwy 380 and Oak Grove Road in Crossroads. SRS Real Estate Partners' Brad Gibbs and Tyler Isbell represented the buyer, North Texas Bells. Standridge Cos' Tommy Crowell represented the seller.

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Cross Pointe Community Church of Corinth purchased a 6.4-acre tract at the southwest corner of Tower Ridge Road and Meadows Oak Drive in Corinth. The land was purchased from the estate of Virgil Griffith and will be used for the construction of a new church facility. UCR's Thurston Witt negotiated the deal for both parties.

EXECUTIVE MOVES

Bob Gibbons joined Case Commercial Real Estate. Prior to that, he was running Reata Commercial Real Estate.

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Damian Rivera joined E Smith Realty Partners as president of national account services. He will be charged with leading the national expansion for multi-market tenant accounts. He comes from Stream Realty Partners.

LEASES

Harrah Industries inked a 24k SF lease at 2501 109th St in Grand Prairie. Prologis' Cody Riles self-repped the landlord. Stream Realty Group's Cannon Green and Matt Dornak repped the tenant.

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Benefit Mall renewed 44k SF in Galleria Plaza at 4851 LBJ Freeway in Dallas. Bradford's Sharon Friedberg and Melanie Hughes represented the landlord, YPI Central Expressway Properties. Cushman & Wakefield's Robbie Baty and Bill McClung represented the tenant. The Bradford duo also repped the landlord, ARI Forum, in a 19k SF lease to Barrett Daffin Frappier Turner & Engel in Forum at Belt Line Building 1 at 4002 Belt Line Rd in Addison. Swearingen Realty Group's Cameron Tapley represented the tenant.

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Tricolor Auto Group expanded its HQ lease at The Summit at Las Colinas by 33% to about 25k SF. Rosemont Realty's Kirby White represented property owner Rosemont Realty. Altschuler & Co's Jon Altschuler represented the tenant.

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Stelfast leased 59k SF at 2750 113th St in Grand Prairie. Cassidy Turley's Blake Anderson and David Eseke repped the tenant. Stream Realty Partners' Matt Dornak and Cannon Green represented the landlord, ProLogis.

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Nature's Best added 154k SF to its lease at 101 Enterprise Dr in Flower Mound. It now occupies the entire 462k SF building. Cushman & Wakefield's Mark Collins, Dean Collins, and Kirk Collins, Jeff Chiate, Rick Ellison, and Cheryl Ballentine represented Nature's Best in the expansion as well as its initial lease. Hillwood's Toby Rogers and Bates Arnot represented Clarion Partners, the landlord.

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Telligent Systems leased 24k SF in Hall Office Park at 3000 Internet Blvd in Frisco. JLL managing director Steve Thelen and SVP Doug Carignan represented the tenant. Hall Financial Group leasing agent Tammy Nellis represented Hall Office Portfolio. In another JLL deal, Remington Hotel Corp leased 21k SF at 5050 Quorum in Addison. JLL managing director Jeff Eckert, VP Blake Shipley, and associate Clint Coe represented Billingsley Co. Swearingen Realty Group SVP Jim Montgomery represented the tenant.

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Fletcher, Farley, Shipman & Salinas signed a 26k SF lease at the Pyramids Office Tower at 9201 N Central Expwy. Hudson Peters Commercial's Cincha Kostman and Sanober Syed repped the landlord, Healthcare Realty Trust. JLL's Kelley Kackley and Andy Leatherman represented the tenant.

NEW BUSINESS

TDI Real Estate started construction on a 360-unit luxury multifamily community called Jefferson Center in Richardson near the intersection of President George Bush Turnpike and Custer Parkway. Jefferson Center will be developed on a 30-acre site less than a mile northeast of the University of Texas at Dallas and less than two miles from the State Farm complex under construction. Senior financing for construction of the property will be provided by Texas Capital Bancshares. Behringer Harvard Multifamily REIT I provided mezzanine financing, and Catlyn Capital Corp has provided equity.

Mea Culpa: On Monday, we mixed up photo IDs and misidentified Jack Minter as Bill Cawley. We've taken our reporter to have her eyes checked, but in our defense, they're both good-looking guys.

Baby, You're Much Too Fast

We asked for your favorite road trip song and the winner: "Little Red Corvette." JLL's Jeff McKenney tells us on a road trip back from Amarillo, he and his teenage son stopped for gas outside of Wichita Falls and saw a red 1976 Corvette for sale, looking cool with the T—tops off and leather interior. The $14k asking price was crossed out and OBO was written in. Needless to say, they didn't buy it; all he could see was dollar signs and tow truck bills in his future. But, he still likes the song. He wins a ticket to the fourth annual Bisnow DFW Retail Summit on Oct. 22. You can buy your ticket here.