March 2015 - Hawk Intelligent Solutions

Transcription

Volume 6 Number 03
March 2015
APARTMENTS
Apartment market occupancy in the Dallas/Fort Worth area stood at
93.30% in February 2015, an increase of 0.12% when compared to the
adjusted figure for the previous month. Overall rents stood at $0.974 per
square foot, an increase of $0.001 per square foot from January 2015.
Rental rates increased by $0.001 per square foot for Class B, Class C
and Class D properties, while rental rates remained unchanged for Class
A propertied when compared to the previous month. Average rental rates
per unit stood at $830.36 per unit, an increase of $0.740 per unit from
previous month. Pre-leasing is currently underway in 6 communities
(1,628 units) out of the 34 total properties (9,300 units) in the construction
pipeline city-wide.
_________________
Table of Contents:
Apartments ...................... 1
Office Buildings ................ 5
Retail Centers .................. 7
Industrial Facilities ........... 9
Vacant Land..................... 11
Single-Family Housing ..... 12
Economic &
Financial News ................ 13
Potpourri .......................... 14
Dallas/Fort Worth Real Estate Trends
March 2015
Page 1
Apartment Developments
 Mill Creek Residential (Wes Dickerson: 214-922-8567, wdickerson@mcrtrust.com) has plans to renovate
Lakewood on the Trail (13664), a 352-unit, Class B community located at 101 North Brookside Drive in
the Lower Greenville/White Rock Lake submarket (36Z). The property is 95% occupied and features
studio, one-, and two-bedroom floor plans with an average size of 733 square feet and average rents at
$1.61 per square foot. Unit upgrades will include the addition of custom cabinets, granite countertops,
modern lighting, and new faucets. Community amenities include three hotel-inspired pools with lounge
seating, an onsite fitness center, Starbucks coffee lounge, and business center with Mac and PC
computers.
 Andrew Merrick Homes (Wayne Lewis: 972-839-7274, wlewis@andrewmerrick.com) has completed
construction of Emerson Square (18697), a 208-unit, Class A community located at 4201 North Locust
Street in Denton, Denton County (247G). The property is 63% occupied and features one- and twobedroom floor plans with an average size of 840 square feet and average rents at $1.25 per square foot.
Unit amenities include premier designer collection finishes and lighting fixtures, faux hardwood and ceramic
tile floors, garden tubs, and full sized washer and dryer connections. Community amenities include a
swimming pool, 24-hour fitness center, outdoor kitchen, and package receiving.
 Knightvest Capital (KC Kronbach: 972-980-6930, kck@knightvest.com) has completed renovation of
Madison at Bellmar (14674), a 90-unit, Class B community located at 10501 Steppington Drive in the
Greenville Ave/Lake Highlands submarket (26E). The property is 60% occupied and features one- and twobedroom floor plans with an average size of 592 square feet and average rents at $1.37 per square foot.
Unit amenities include granite countertops, stainless steel appliances, hardwood or wood style flooring, and
stackable washer and dryer. Community amenities include a beautiful swimming pool, covered parking,
community access gates, and amazing landscaping.
The following chart illustrates historical apartment market rental rates.
RENT
DALLAS/FORT WORTH APARTMENT MARKET RENTS ($/SF)
$0.98
$0.97
$0.96
$0.95
$0.94
$0.93
$0.92
$0.91
$0.90
$0.89
$0.88
Apartment Sales
 Fairways Wilson Creek Apartments LLC, an entity of Knightvest Property Management (K. C.
Kronbach: 214-989-7061, kck@knightvest.com), has purchased Fairways at Wilson Creek (15428), a
576-unit, Class A community located at 3191 Medical Center Drive in the Allen/McKinney submarket
(360Z), from BRE McKinney Phase I Apartments LLC (Olivia John). The 14-year-old property is 93%
occupied with average rents at $0.97 per square foot.
March 2015
Page 2
 IRG MDL LLC (Elliot Aronson) has purchased Surrey Row (14086), a 436-unit, Class C community
located at 7272 Marvin D. Love Freeway in the south Dallas submarket (63Y), from Brama Surrey Row
Ltd, an entity of Alpha-Barnes Real Estate Services LLC (Jeff Barnes: 972-643-3200). The 26-year-old
property is 83.7% occupied with average rents at $0.89 per square foot.
 Tribeca Multifamily Dallas LP, an entity of Matthews Southwest (John Matthews: 214-928-9100,
john.matthews@matthewssouthwest.com), has purchased Tribeca (18175), a 398-unit, Class A
community located at 8401 Memorial Lane in the West Plano submarket (556L), from BES Tribeca Fund
VII LP, an entity of Sherman Residential (Mark Putterman: 847-374-2700 markp@bes.com). The sevenyear-old property is 94% occupied.
35 multifamily communities were sold in the month of January 2015, according to the Commercial Deed
Report. This represented a decrease of 2.78% from previous month. The number of units sold in Dallas
County (2,572) represented a decrease of 6.13% in terms of units when compared to December 2014.
The following charts illustrate multifamily sales in the Dallas/Ft. Worth area:
Multifamily Sales
Sales by County (January 2015)
69
54
51
Dallas
63%
52
45
34
39
33
22
21
36
35
Tarrant
26%
29
Collin
11%
Number of properties sold
Apartment Financing
 CBRE Capital Markets Inc (Steve Iaco: 713-787-1900, steven.iaco@cbre.com) has provided $24.4 million
in financing for Courts at Preston Oaks (13334), a 444-unit, Class B community located at 5400 Preston
Oaks in the Far North Dallas submarket (15E), from N/A Courts at Preston Oaks 64 LP, an entity of
NALS Apartment Homes (Henry Nevins: 805-963-2884, hnevins@nals.com). The 27-year-old property is
95.6% occupied with average rents at $1.16 per square foot.
 Rialto Mortgage Finance LLC, an entity of Rialto Capital Management LLC (Mark Atencio: 212-4154840), has provided $8.3 million in financing for Park Creek Manor (15268), a 322-unit, Class C
community located at 2520 Coombs Creek Drive in the South Dallas submarket (53T), from Amerisouth V
LP, an entity of Amerisouth Realty (Ruel Hamilton: 214-750-1709, rhamilton@amerisouthrealty.com). The
47-year-old property is 98% occupied with average rents at $0.89 per square foot.
 Jackson National Life Insurance Company (Clifford Jackson: 312-338-5813, clifford.jack@jackson.com)
has provided $18.5 million in financing for Belterra Apartments (17516), a 288-unit, Class A community
located 7001 Sandshell Boulevard in the Fort Worth submarket (35U). The borrower was VR Belterra
Holdings LP, an entity of Cassidy Raub and Fleishman (Andrew Stewart: 281-554-8300). The nine-yearold property is 94% occupied with average rents $0.97 per square foot.
March 2015
Page 3
OFFICE BUILDINGS
Office Sales
 Canal Centre LLC, an entity of Sunwest Real Estate Group (Marc Grossfeld: 972-284-1000,
marc.grossfeld@sunwest-re.com), has purchased Canal Centre (10882), a 235,000 square-foot, Class A
building located at 400 Las Colinas Boulevard East in the Dallas Far Northwest sector (21B-Z), from I&G
400 Canal LLC. The 33-year-old property is 55.78% occupied.
 Greenway Tower Owner LLC, an entity of HighBrook Investment Management LP (Brian Carr: 212906-3450, bcarr@highbrookinvestors.com), has purchased Greenway Tower (8755), a 194,000 squarefoot, Class B building located at 1231 Greenway Drive in the Dallas Far Northwest sector (21A-M), from
Greenway Tower Joint Venture Ltd, an entity of Folsom Companies Inc (Robert Kennedy: 972-9317400, rkennedy@sabrerealty.com). The 33-year-old property is 79.16% occupied with average rents
$17.50 per square foot.
In the month of January 2015, 68 office buildings were sold according to the monthly Commercial Deed
Report. This represented an increase of 25.93%, when compared to December 2014. In terms of square feet,
sales stood at 4.19 million square feet, which represented a two-fold increase over the previous month.
The following charts illustrate office sales in the Dallas/Ft. Worth area:
Office Sales
78
65
79
68
66
60
64
68
64
Tarrant
40%
54
51
43
46
Collin
13%
Dallas
46%
Denton
1%
Office Financing
 First NBC Bank (Keith Freire: 504-566-8000, kfreire@firstnbcbank.com) has provided $64 million in
financing for One Main Place (17720), a 10.13 million square-foot, Class A building located at 1201 Main
Street in Dallas, Dallas County (45P). The borrower was One Main Place Hotel LLC, an entity of KFK
Group (Elie Khoury: 504-368-9600, ekhoury@kfkgroup.com). The 46-year-old property is 21.31%
occupied with average rents at $15.75 per square foot.
 Wells Fargo Bank NA (Teresa Coleman: 210-543-4300, teresa.coleman@wellsfargo.com) has purchased
677 W Campbell Rd (8496), a 77,000 square-foot, Class C community located at 677 West Campbell
Road in Richardson, Dallas County (7N). The borrower was Mehrdad Mazaheri (972-889-3937). The 34year-old property is vacant with average rents at $12.90 per square foot.
 Prosperity Bank (William Carter: 214-371-6000, will.carter@prosperitybanktx.com) has provided $2.72
million in financing for Pecan Crossing (10355), a 36,000 square-foot, Class B building located at 1229
Easr Pleasant Run Road in Desoto, Dallas County (74Y). The borrower Pecan Crossing LLC (Dennis
March 2015
Page 4
Glines: 425-827-0678). The 29-year-old property is 94.32% occupied with average rents at $13.00 per
square foot.
Office Leases

Colonial Life & Accident Insurance Co. has leased 2,131 square feet at Preston Park Financial Center
(6949), a 173,000 square-foot, Class A building lat 4965 Preston Park Boulevard in Plano, Collin County
(656U), from Griffin Partners (713-622-7714). The 15-year-old property is 77.46% occupied with average
rents at $20.25 per square foot. Jim Graham (214-706-6051, jim.graham@colliers.com) and Allison
Gump of Colliers International represented the tenant, while Clint Madison (972-92-1750) and Rodney
Helm of DTZ represented the landlord.
 Russ Berger Design Group Inc (972-661-5222) has renewed 6,357 square feet at Forum at Beltline III
(17611), a 96,000 square-foot, Class B building located at 4006 Belt Line Road in Addison, Dallas County
(14A), from ARI Forum LLC. The 31-year-old property is 45.76% occupied with average rents at $13.50
per square foot. Nick Lee (214-256-7121, nlee@robertlynn.com) of NAI Robert Lynn represented the
tenant, while Sharon Friedberg (972-776-7150, sfriedberg@bradford.com) and Melanie Hughes of
Bradford Commercial Real Estate Services, and Bret Cooper, broker associate, represented the
landlord.
March 2015
Page 5
RETAIL CENTERS
Retail Sales
 A.A.O.F Corp has purchased the following centers located in Dallas, Dallas County, from Greenville
Centre LC, an entity of TKG Arwood Inc (E Stanley: 573-449-8323):
o Former Walmart (42477), a 223,000 square-foot single tenant building located at 3159 South Garland
Avenue (29N). The 27-year-old property was vacant at the time of sale.
o Walmart (44380), a 136,000 square-foot neighborhood center located at 8282 Park (26T). The 22-yearold property is fully occupied.
 Baileys Furniture Inc (Jim Braggs: 972-283-3152, jbraggs@baileysfurnituresite.com) has purchased
Bailey's Furniture (43369), a 42,000 square-foot single tenant building located at 3910 Camp Wisdom
Road West in Dallas, Dallas County (63W), from Forty Degrees LLC, an entity of Gant & Hicks PLLC
(Jerry Hicks: 214-426-3906). The 38-year-old property is fully leased.
 BVM Longhorns Investments LLC (Sanjeeb Shrestha: 817-386-4698) has purchased Polo Village
(42811), a 25,000 square-foot neighborhood center located at 1801 West Polo Road in Grand Prairie,
Dallas County (61W), from Bh Dallas Portfolio LLC, an entity of B H Properties (Arsalan Gozini: 310820-8888). The 30-year-old property is fully leased.
In the month of January 2015, 56 retail centers were sold according to the monthly Commercial Deed
Report. This represented an increase of 30.23%, when compared to December 2014. In terms of square feet,
sales represented an increase of 70.39%, when compared to the previous month.
The following charts illustrate retail center sales in the Dallas/Ft. Worth area:
Retail Sales
100

0.0%
85
72
64
52
57
54
71
65
56
61
56
Tarrant
28.6%
Collin
8.8%
43
Dallas
62.6%
Retail Financing
 Morgan Stanley Bank NA has provided $5.7 million in financing for Stonebriar Mall Peripheral (42928),
a 34,000 square-foot neighborhood center located at 2595 Preston Road in Frisco, Collin County (556F).
The borrower was 2595 Preston LLC (Timothy Cantrell: 214-368-4567, tcantrell@cantrellcompany.com).
The 13-year-old property is 90.89% occupied with average rents at $1.42 per square foot.
 LegacyTexas Bank (Donald Clair: 972-461-1300, donac@legacytexas.com) has provided $1.23 million in
financing for North Garland Center (43352), a 17,000 square-foot strip center located at 3845 North
Garland Avenue in Garland, Dallas County (19B). The borrower was Parth Real Estate Investment LLC
March 2015
Page 6
(Rajesh Singh: 469-269-3623). The 29-year-old property is fully leased with average rents at $0.76 per
square foot.
 Prosperity Bank (Bill Allen: 817-635-2900, bill.allen@prosperitybanktx.com) has provided 100,000 in
financing for Thompson Appliance (41799), a 15,000 square-foot single tenant building located at 2408
Cooper Street South in Arlington, Tarrant County (82Z). The borrower was Farmer-Chien Investments
Inc (Hsin Chien-farmer). The 38-year-old property is fully leased.
Retail Leases
 Town Center Bingo (817-924-8121) has leased 13,464 square feet of at La Gran Plaza (40580), a
989,000 square-foot regional building located at 4200 South Freeway in Fort Worth, Tarrant County (91E),
from Boxer Properties. The 54-year-old property is 82.24% occupied with average rents at $1.25 per
square foot. Beatrice Townsend of Boxing Retail represented the transaction.
 Ewomen Networks has leased 6,684 square feet at Emerald Plaza (17971), a 74,000 square-foot, Class
B building located at 14900 Landmark Boulevard in Addison, Dallas County (14C), from Tpp 8 Emerald,
LLC. The 29-year-old property is 86.53% occupied with average rents at $16.00 per square foot. Jonathan
Hill (972-484-6646, jonathan@morrowhill.com) and Brettany Schovanec of Morrow Hill represented the
tenant, while Rodney Helm and Ward Eastman of DTZ represented the landlord.
March 2015
Page 7
INDUSTRIAL FACILITIES
Industrial Sales
 Kwik Kar Marsh Inc (Corrine Hudson: 214-809-8108) has purchased Marsh Business Park – East
(17436), a 178,000 square-foot office/warehouse facility located at 3770 Arapaho Road in Addison, Dallas
County (14A), from P7 Sealy Marsh Land 1 Owner LP, an entity of Sealy & Company (Scott Sealy: 318222-8700, scotts@sealynet.com). The 34-year-old property is 99.05% occupied with average rents at
$0.63 per square foot.
 KFG Jupiter LLC has purchased 1825/1845/1865 Summit Ave (22032), a 95,000 square-foot
office/warehouse facility located at 1825-1865 Summit Avenue in Plano, Collin County (659Y), from
Vintage Jupiter Summit LP, an entity of Vintage Interests LP (Ernest Perry Ill: 214-954-4344,
rusty.perry@archongroup.com). The 29-year-old property is 88.02% occupied with average rents at $0.76
per square foot.
 CubeSmart LP (Jeffrey Foster: 610-293-5700, jfoster@cubesmart.com) has purchased 7201 North Fwy
(25906), a 63,000 square-foot warehouse facility located at 7201 North Freeway in Fort Worth, Tarrant
County (035T) ,from Fort Worth Storage 35 LP (W. A. Sandford). The eight-year-old property is fully
leased
In the month of January 2015, 91 industrial properties were sold according to the monthly Commercial Deed
Report. This represented a decrease of 4.21% compared to December 2014. In terms of square feet, sales
represented a decrease of 61.02%, when compared to the previous month.
The following charts illustrate industrial property sales in the Dallas/Ft. Worth area:
Industrial Sales
126
95
83
64
122
109
106
84
99
87
95
Dallas
63%
91
66
Tarrant
28%
Collin
9%
Industrial Financing
 UBS Real Estate Securities Inc has provided $7.5 million in financing for 1000 W Crosby Rd (23004), a
229,000 square-foot warehouse facility located at 1000 West Crosby Road in Carrollton, Dallas County
(12F). The 58-year-old property is vacant with average rents at $0.57 per square foot.
 Minnesota Life Insurance Company, an entity of Advantus Capital Management Inc (Julie Gerend:
651-665-3826, julie.gerend@advantuscapital.com), has provided the following financing:
March 2015
Page 8
o $7.5 million for Northeast Dallas Business Park (16615), a 92,000 square-foot warehouse facility
located at 11110 Petal Street in Dallas, Dallas County (28P). The borrower was Petal Street Joint
Venture. The 31-year-old property is 64.78% occupied.
o $3.15 million for 701 E Plano Pkwy (16637), an 88,000 square-foot warehouse facility located at 701
East Plano Parkway in Plano, Collin County (8A). The borrower was Parkway Point Joint Venture. The
31-year-old property is 97.76% occupied with average rents at $0.70 per square foot.
o $2.2 million for Northgate Business Park (20081), an 86,000 square-foot office/warehouse facility
located at 10501 Markison Road in Dallas, Dallas County (28E). The borrower was Markison Vista
Joint Venture. The 27-year-old property is 82.22% occupied.
The borrowers were entities of Whitehall Real Estate Inc (Roy Greenberg: 972-669-9794,
rgreenberg@whitehallreal.com).
 NexBank SSB (Joshua Bock: 972-934-4700, joshua.bock@nexbank.com) has provided $1.25 million in
financing for 1810 N Greenville Ave (17833), a 86,000 square-foot office/warehouse facility located at
1810 North Greenville Avenue in Richardson, Dallas County (7V). The borrower was NICOSO
Investments LLC (Clay Harrison). The 31-year-old property is vacant.
Industrial Leases
 Lee & Associates represented in the following lease transactions:
o Teco Metal Products (877-788-8326) has leased 38,333 square feet at 11560 Hillguard Rd (20443), a
122,000 square-foot warehouse facility located at 11500-11560 Hillguard Road in Dallas, Dallas County
(28A), from Indcor Properties. The 34-year-old property is fully lease. John Hendricks (214-979-6507,
john.hendricks@cbre.com) of CBRE represented the tenant, while George Tanghongs (972-934-4000,
georget@lee-associates.com) and Brett Lewis of Lee & Associates represented the landlord.
o Naylor Commercial Interiors (972-278-2620) has leased 20,011 square feet 11460 Hillguard Road
(20425), a 74,000 square-foot office/warehouse facility located at 11460 Hillguard Road in Dallas, Dallas
County (28A), from Indcor Properties. The 34-year-old property is fully leased with average rents at
$0.29 per square foot. Ken Wesson (972-934-4000, kwesson@lee-associates.com) of Lee &
Associates represented the tenant, while George Tanghongs and Brett Lewis, also of Lee &
Associates, represented the landlord.
 Optimum Packaging (972-408-6432) has renewed its lease for 10,000 square feet at Falcon CentreEagle Industrial Park (19182), a 68,000 square-foot warehouse facility located at 1707 Falcon Drive in
DeSoto, Dallas County (74N), from Owen Bros. Enterprises. The 28-year-old property is 70.17%
occupied with average rents at $0.26 per square foot. Brian Pafford (972-389-9002,
bpafford@bradford.com) and Michael W. Spain of Bradford Commercial Real Estate Services
represented the landlord.
March 2015
Page 9
VACANT LAND
Land Sales

Entities of Centurion American Development Group (Mehrdad
mehrdad@centurionamerican.com) have purchased the following tracts:
Moayedi:
469-892-7200,
o CADG Sutton Fields LLC has purchased five tracts totaling 209.07 acres located east of FM 1385,
north of Parvin Road, and south of Crutchfield Road in the Prosper/Aubrey/Parvin area of Denton
County, from Mike A Myers Investment Holdings LP, an entity of Myers Development Corporation
(Robert Myers: 214-350-6500, robert@lakeridgesouth.com).
o CADG Lincoln PK LLC has purchased 66.80 acres located north of US 380, between Oak Grove Lane
and FM 2931, near Lakeview, in Aubrey, Denton County (251U, 251V, 252S), from 2931 Land LP (W.
A. Sandford).
o CADG Golden Triangle 33 LLC has purchased 33.79 acres located at 10600 Alta Vista Road in Fort
Worth, Tarrant County (22Q), from Sutton Field Investments LLC, an entity of REX Real Estate (Rex
Glendenning: 972-250-1263, rex@rexrealestatetx.com).
o CADG Lewis Park LLC has purchased 9.37 acres located along the west side of Southview Drive, near
Santa Monica, in Lucas, Collin County (562U), from Lisa Griffin (972-542-8388).

DHTR One Holdings LLC (Suresh Kumar) has purchased 60.03 acres of vacant land located along
County Road 546 in Nevada, Collin County, from PCB Properties LLC, an entity of Park Cities Bank (C.
H. Wyatt Jr.: 214-370-4500, cwyatt@parkcitiesbank.com).

96 Preston Partners LLC (Frank Babb) has purchased 28.35 acres located along State Hwy 289 in
Celina, Collin County, from Westgate Celina Investors LP, an entity of Westgate Capital Funding LLC
(Thomas Hillsman: 972-980-6519).
In the month of January 2015, 3356.07 acres of land were sold according to the monthly Commercial Deed
Report. This represented more than one-fold increase over the previous month.
The following charts illustrate land sales in the Dallas/Ft. Worth area:
Land Sales
5,214
4,264
3,545
3,691
3,249 3,111
2,694
2,377 2,157
2,197
3,356
2,432
Denton
35%
Collin
53%
1,643
Tarrant
7%
Dallas
5%
Land acres sold
March 2015
Page 10
SINGLE-FAMILY HOUSING
According to the MetroTex Association of Realtors, the breakup by county of home sales in the Dallas/Ft.
Worth area for the month of January 2015 is as follows:
Collin County: 686 units were sold at an average sales price of $301,623. The number of units sold
represented a decrease of 7.9% over January 2015. On a year-to-date basis, 686 homes have been sold.
Dallas County: 1,121 units were sold which was a decrease of 13.2%, when compared to the same time last
year. Compared to January 2014, the average sales price represented an increase of 0.9% as $238,097. On a
year-to-date basis, 1,121 homes have been sold.
Denton County: 589 units were sold which represented a decrease of 4.1% over the same time last year
when 614 units were sold. The average sales price was $283,591which was an 18.1% increase over the
previous year. On a year-to-date basis, 589 units have been sold.
Tarrant County: 1,233 units were sold, a decrease of 4.5% over last year. The average sales price increased
by 7.4% over last year to $202,906. On a year-to-date basis, the number of units sold was 1,233.
109 units were sold in Ellis County at an average sales price of $183,569. The average sales price went up to
10.5% when compared to January 2014. 76 units were sold in Rockwall County at an average sales price of
$259,731. The average sales price went up to 27.2% when compared to last year.
March 2015
Page 11
ECONOMIC & FINANCIAL NEWS
The total number of nonagricultural wage and salary jobs in the twelve-county Dallas area decreased by
42,600 jobs to 3,316,700 in January 2015, according to the U.S. Department of Labor. This month’s total is
139,784 more jobs than the 3,176,915 jobs at this time last year. Of the nonagricultural employers
manufacturing sector and information sector recorded the largest increase of 400 jobs over the last month
individually. On a year-on-year basis, the mining, logging, and construction sector posted the largest gain,
adding 15,058 jobs respectively.
The following chart illustrates non-agricultural employment in the Dallas MSA.
Total Jobs (in 1000s)
DALLAS MSA NON-FARM EMPLOYMENT
3400
3350
3300
3250
3200
3150
3100
3050
3000
2950
2900
Non-Farm jobs
Source: U.S. Bureau of Labor Statistics (BLS)
The Business Cycle Index (BCI) for Texas stood at a seasonally adjusted 213.2 in January 2015, according
to the Federal Reserve, while the BCI for the Dallas-Plano-Irving metropolitan area stood at 403.3 an increase
of 2.4 points from the adjusted value for December 2014. For the Fort Worth-Arlington metropolitan area, the
BCI stood at 349.1, which represented a 1.7 points increase from previous month. The Texas Leading Index
posted 129.4 for the month of December 2014. The indexes represent broad movements in local Texas
economies relative to a figure of 100 in 1987, the base year.
The Baker Hughes count of active domestic rotary rigs stands at 1,683 for January 2015. The current rig
count is down 4.86% from last year’s figure of 1,769 rigs. The rotary rig count is a census of the number of
drilling rigs actually exploring for or developing oil or natural gas in the United States.
March 2015
Page 12
POTPOURRI
The Architecture Billings Index, developed by the American Institute of Architects, stood at 49.9 for
January 2015, a decrease of 2.8 points over the previous month (any score above 50 indicates an increase in
billings). Both the project inquiries index and the inquiries for new projects score was 58.7, a decrease of 0.4
points over the previous month.
The following appointments and promotions were noted:
 Corbin J. Baumel (469-621-9692, cbaumel@axiometrics.com) has been named CFO of Axiometrics Inc.
March 2015
Page 13