It’s often said in business that you’re either growing or dying. And if you want to grow, you’d better be willing to try new things.
The imperative to grow and change applies to general contractors such as Dallas-Fort Worth-based Bob Moore Construction as it does any tech company or manufacturers. The company, founded in 1946, has long been an innovator in methods such as tilt-up concrete construction. Recently, it forged into a new line of business, adding multifamily to its traditional lines of industrial and commercial construction.
Bob Moore’s move into multifamily is a response to both a specific opportunity, and to the nature of the Dallas real estate development market, say officials at the company. “A longtime customer of ours came to us with a great project: A five-story podium style project in Dallas,” says Mark Duvall, vice president for pre-construction services at Bob Moore. “We saw this as an opportunity to apply our existing construction management skills to an exciting new sector.”
The Dallas real estate development market is one of the hottest in the nation, and experts expect that to continue even if the overall economy slows down.
“The rest of the economy may get the flu in the next couple years. We’re going to get a cold,” says Jesse Pruitt, owner of Somervell Commercial Realty and a veteran of the Metroplex real estate scene. But that doesn’t mean every sector of the real estate market is booming at the same time, all the time. For instance, Pruitt says, demand for industrial sites is high right now, and he expects that to continue.