LAS COLINAS, TX
For 70 years, Ebby Halliday, REALTORS® has been selling homes in North Texas. Ebby Halliday has been built on three principles: service to the client, service to the industry and service to the community. Each year they serve the residential real estate needs of more than 20,000 individuals and families moving to, from and within North Texas, always with the commitment of providing exemplary service during what can be one of life’s most-exciting, yet often stressful, events.
• Long-Term Tenant - Tenant Has Occupied this Location Since 1997
• Tenant Has Extended Lease, Expanded Several Times & Now Occupies the Whole Building
• S trong Corporate Guarantee and Getting Stronger – Currently Being Bought By Berkshire Hathaway (Warren Buffett)
• Highly Recognizable Brand - #1 Dallas Real Estate Company in Home Sales & Top 15 in the Country
• Tenant Currently has 32 Locations and Over 1,700 Agents & Completed $8 Billion in Sales in 2017
• Net Lease with Minimal Landlord Responsibility
• Densely P opulated Area - Population within Five Mile Radius Exceeds 195,000 People – a 26% Increase Since 2000
• Affluent Area - Per Capita, Average and Median Incomes within 5 Mile Radius Exceed National Averages Over 76,000 Homes in a 5 Mile Radius
• Located on Major Thoroughfare with Traffic Counts Along N. Macarthur Blvd. Exceeding 50,000 Vehicles per Day
• S trategically Located Between 2 Major Highways –635 (LBJ Fwy) and 191 (George Bush Expwy)
• Surrounding National Retailers Include Walmart, Target, Sam’s Club, McDonald’s, Chick-Fil-A, and Many More
North Texas’ largest independent residential property company, Ebby Halliday Realtors, has just made its biggest sale ever.
Ebby Halliday, which handled more than $8 billion in home sales last year, said Monday that it’s being bought by HomeServices of America Inc., a Berkshire Hathaway affiliate.
For months, speculation has swirled about a sale of the 73-year-old Ebby Halliday firm to billionaire Warren Buffett and his Omaha-based Berkshire Hathaway Corp. Company officials had previously discounted talk of a sale but have finally confirmed that a deal is in the works.
Ebby Halliday’s execs held a companywide meeting Monday at the Dallas Cowboys’ headquarters, The Star in Frisco, to announced the pending transaction. Terms of the deal were not disclosed, and a representative for HomeServices of America said the company has no comment about the purchase at this time.
The sale is one of the biggest shifts in years for North Texas’ highly competitive home sales industry.
In 2015, Berkshire Hathaway’s HomeServices of America Inc. bought local high-end home sales firm Allie Beth Allman & Associates. The company
has also been expanding its Dallas-Fort Worth residential sales operations under its own Berkshire Hathaway brand.
Ebby Halliday operates more than two dozen sales offices in North Texas, stretching from Mansfield south of Fort Worth to near the Oklahoma border in Grayson County. Besides home sales, the Farmers Branch-based firm with more than 1,700 sales agents has property management and leasing divisions.
Founder Ebby Halliday — who started the company in 1945 selling tiny concrete homes built north of Dallas Love Field — died in 2015 at 104.
The company is owned by its employees.
Ebby Halliday officials say the sale will include its Dave Perry-Miller Real Estate and Fort Worth-based Williams Trew Real Estate divisions. Those companies will continue to operate under their individual brands.
D-FW is one of the country’s hottest home sales markets, and agents here handled more than 100,000 pre-owned residential sales in 2017. Soaring home prices in the last few years have also resulted in record profits for the residential sales sector.
Continued on next page..
In terms of dollar volume of sales last year, Ebby Halliday ranked ahead of Keller Williams Realty, Go Management and Briggs Freeman Sotheby’s International Realty.
And Ebby Halliday ranked 15th nationally last year based on the number of transactions it handled.
Jim Fite, president of Dallas-based Century 21 Judge Fite Realtors, said he wasn’t surprised to hear about the Ebby Halliday sale.
“I’ve been expecting it for a couple of years now,” Fite said. “Berkshire Hathaway was a natural fit for Ebby.
Fite said being bought by a large national company can “take them to a different level.”
Fite should know: His family-owned company aligned with the Century 21 brand more than 20 years ago.
“It was a very positive thing for us to affiliate with an international brand,” he said. “We have grown significantly,” from four offices to 25 today.
“In the first quarter, we were the third-largest firm in the area based on sales through the MLS.” During the last decade, the big nationwide home sales brands have expanded their reach across the country and have bought out many local operators.
“The numbers of large, independent, privately owned brokerage firms has shrunk without any doubt,” said Steve Murray, president of Denver-based RealTrends, which tracks sales each year by the country’s top 500 residential firms.
At the same time, Murray said he’s seeing new startup residential firms with innovative approaches to the business.
“So while traditional independent brokerage firms are shrinking, we are seeing a new breed of younger firms taking their place — and in most cases they operate lower-cost business models,” Murray said. “All part of the maturation of the industry, I think.”
Minneapolis-based HomeServices of America is the country’s second-largest residential brokerage firm. It has almost 40,000 sales agents working out of 843 offices in 30 states.
Last year the company handled $127 billion in property transactions.
Buffett, Berkshire Hathaway’s founder, already has a big footprint in North Texas. His Omaha-based firm owns Fort Worth-based BNSF Railway, and Berkshire Hathaway’s GEICO Insurance, Acme Brick and Nebraska Furniture Mart employ thousands of people in the area.
DALLAS, TX
Dallas encompasses half of the Dallas/Fort Worth Metroplex and is the third-largest city in Texas and the ninth-largest city in the United States. Dallas is home to the third-largest concentration of Fortune 500 companies in the country and is the largest economic center of the Dallas/Fort Worth metropolitan area. The Metroplex has strong submarket occupancy rates, is home to more shopping centers per capita and has one of the largest concentrations of corporate headquarters for publicly traded companies in the United States.
The city is the largest economic center of the 12-county Dallas–Fort Worth–Arlington metropolitan area, which had a population of 6,810,913 people as of July 1, 2013. The metropolitan economy is the sixth largest in the United States, with a 2012 real GDP of $420.34 billion. In 2013 the metropolitan area led the nation with the largest year-over-year increase in employment, and advanced to become the fourth-largest employment center in the nation (behind New York City, Los Angeles, and Chicago) with more than three million non-farm jobs. In the
latest rankings released in 2013, Dallas was rated as a “beta plus” world city by the Globalization and World Cities Study Group & Network. Dallas is also ranked 14th in world rankings of GDP by the Organization for Economic Co-operation and Development. The Dallas-Fort Worth Metroplex has one of the largest concentrations of corporate headquarters for publicly traded companies in the United States. The city of Dallas has 12 Fortune 500 companies, and the DFW region as a whole has 20.
Dallas is the best-ranked city on the Regulatory Climate Index thanks to its efficient local regulations. Entrepreneurs and small businesses can expect a welcoming business environment across all five areas of local regulation. Dallas scores above average across each meaningful measure of an interaction that a business has with a local government agency through procedure, time, and cost. These rankings reflect the city’s continuing efforts to develop programs and initiatives to strengthen the business environment, provide access to capital, and encourage economic growth at the local level.
PoPulation
In the identified area, the 2016 population was 195,043. The rate of change since 2000 was 26.06%. The five-year projection for the population in the area was 210,257 representing a change of 7.80% from 2016 to 2021. The 2016 population was 50.0% male and 50.0% female. The median age in this area was 33.0, compared to U.S. median age of 38.0.
HouseHolds
In 2016 there were 76,598 households in your selected geography. The number of households has changed by 23.65% since 2000. It is estimated that the number of households in your area will be 82,279 five years from 2016, which represents a change of 7.42% from 2016. The average household size in your area for 2016 was 2.54 persons.
income
In 2016, the median household income for your selected geography was $60,473, compared to the Entire US average which was $54,149. It is estimated that the median household income in your area will be $67,532 in 2021, which represents a change of 11.67% from 2016.
The 2016 per capita income in your area was $34,977, compared to the Entire US average, which was $29,472. The 2016 average household income in your area was $88,806, compared to the Entire US average which was $77,008.
Race and etHnicity
The 2016 racial makeup of your selected area was as follows: 51.3% White, 12.0% Black, 0.6% Native American and 21.0% Asian/Pacific Islander. Compare these to Entire US averages which were: 71.60% White, 12.70% Black, 0.18% Native American and 5.02% Asian/Pacific Islander.
People of Hispanic origin are counted independently of race. People of Hispanic origin made up 32.9% of the 2016 population in your selected area. Compare this to the Entire US average of 17.9%.
Housing
In 2016, there were 28,091 owner occupied housing units in your area and there were 48,507 renter occupied housing units in your area. Median home value in the area was $236,031, compared to a median home value of $198,891 for the U.S.
emPloyment
In 2016, there were 107,217 employees in your selected area; this is also known as the daytime population. In 2016, 68.8% of employees were employed in white-collar occupations in this geography, and 17.1% were employed in blue-collar occupations. In 2016, unemployment in this area was 3.8%.
CONFIDENTIALITY AGREEMENT
The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from STRIVE and it should not be made available to any other person or entity without the written consent of STRIVE. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to STRIVE.
This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. STRIVE has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, STRIVE has not verified, and will not verify, any of the information contained herein, nor has STRIVE conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT STRIVE AGENT FOR MORE DETAILS.