Add sky-high assessments to the list of challenges facing commercial property landlords in the Dallas area.

Commercial valuations in Dallas County have risen by 21 percent since last year, despite evidence of a sluggish market, Bisnow reported, citing the Dallas Central Appraisal District. 

There were double digit increases across all commercial sectors, although some asset classes were hit harder than others. The soaring valuations, unveiled in preliminary assessments, marks a stark contrast to the actual market conditions perceived by property owners. 

“I’m not shocked by the fact that notice values were higher because the appraisal district tends to be aggressive,” Meritax Advisors partner Ryan Chismark told the outlet. “However, I’m disappointed that they’re higher because of where we actually are in the market.”

Commercial property sales plummeted by 58 percent last year amid rising interest rates, tight lending standards and widending buyer-seller discrepancies. The lack of recent comparable transactions has led appraisers to rely on outdated cap rates, drawing criticism from property owners and consultants.

Industrial properties have seen the largest increase over the past year, estimated at over 50 percent on average, with some lower-tier properties doubling in value year-over-year. Chismark suggests that the surge in industrial values may stem from historical undervaluation, prompting the district to recalibrate assessments.

Multifamily and retail properties also experienced hikes of 20 percent and 10 percent, respectively. Even for the struggling office sector, which is still grappling with soaring vacancies amid the remote-work era, valuations are 5 to 10 percent higher than they were a year ago.

Jon Redmond, manager of the U.S. real property tax division at Altus Group, was surprised by the relatively modest rise in retail values, given the sector’s steady recovery from the pandemic. 

“Even in a terrible market, we are always going to protest,” he said. “But I don’t think [retail owners] will have the sticker shock that office or industrial clients will.” 

The protest and litigation process routinely results in lowered assessments, with over $9 billion shaved off preliminary assessments last year alone. Chismark is optimistic that despite the anticipated contention, most owners will eventually find acceptable resolutions with the central appraisal district.

—Quinn Donoghue 

MIAMI (WSVN) – Shakira is set to go back on the road for a world tour, her first since 2018, that will include a stop in Miami.

The “Las Mujeres Ya No Lloran” world tour kicks off on Nov. 2 in California. The superstar is scheduled to perform at the Kaseya Center on Nov. 20.

The tour will feature music from her latest and 12th studio album, Las Mujeres Ya No Lloran, released in March.

Shakira says the album is a mix of pop, reggaeton, regional and rock and describes her journey from vulnerability to resistance.

Presale tickets for the tour go on sale Wednesday. Tickets for the general public go on sale Monday.

Copyright 2024 Sunbeam Television Corp. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

ATLANTA – Future and Metro Boomin are coming together for a big North American tour, and the hip-hop stars are making a stop in Atlanta.

The frequent collaborators announced on Tuesday that they are hitting the road for the “We Trust You” Tour, which will span from July 30 to Sept. 9 and includes a stop at the Lollapalooza music festival.

The Atlanta show will take place at State Farm Arena on Aug. 8.

The tour comes after the Atlanta-based Future and Metro Boomin’s two recent studio albums, “We Don’t Trust You,” and “We Still Don’t Trust You,” which were released in March and April. The first album debuted at No. 1 on the Billboard 200 and featured the collaboration with Kendrick Lamar “Like That,” which sparked a massive beef between Lamar, J. Cole, Drake, and Rick Ross. The song is now the first rap song to spend its first three weeks at the top of the Billboard Hot 100 since Drake’s “Nice for What.”

Tickets for the Atlanta show will first go on sale to Cash App customers on Wednesday with the general sale beginning Friday at 10 a.m.

For more information on the Cash App Card presale, visit the Cash App’s website.

You can find the entire list of tour dates below,

Future and Metro Boomin “We Trust You” Tour dates

Tue Jul 30 – Kansas City, MO – T-Mobile Center
Wed Jul 31 – Saint Paul, MN – Xcel Energy Center
Fri Aug 02 – Milwaukee, WI – Fiserv Forum
Sat Aug 03 – Chicago, IL – Lollapalooza
Sun Aug 04 – Detroit, MI – Little Caesars Arena
Tue Aug 06 – Nashville, TN – Bridgestone Arena
Thu Aug 08 – Atlanta, GA – State Farm Arena
Sat Aug 10 – Columbus, OH – Schottenstein Center
Sun Aug 11 – Toronto, ON – Scotiabank Arena
Tue Aug 13 – Boston, MA – TD Garden
Wed Aug 14 – Philadelphia, PA – Wells Fargo Center
Thu Aug 15 – Brooklyn, NY – Barclays Center
Sat Aug 17 – Washington, DC – Capital One Arena
Tue Aug 20 – New Orleans, LA – Smoothie King Center
Thu Aug 22 – Houston, TX – Toyota Center
Fri Aug 23 – San Antonio, TX – Frost Bank Center
Sat Aug 24 – Dallas, TX – American Airlines Center
Sun Aug 25 – Tulsa, OK – BOK Center
Tue Aug 27 – Denver, CO – Ball Arena
Wed Aug 28 – Salt Lake City, UT – Delta Center
Fri Aug 30 – Las Vegas, NV – T-Mobile Arena
Sat Aug 31 – Inglewood, CA – Intuit Dome
Tue Sep 03 – Sacramento, CA – Golden 1 Center
Wed Sep 04 – Oakland, CA – Oakland Arena
Fri Sep 06 – Seattle, WA – Climate Pledge Arena
Sat Sep 07 – Portland, OR – Moda Center
Mon Sep 09 – Vancouver, BC – Rogers Arena