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The big economic boom in the Big D has hit North Texas’ hospitality sector in a big way, with the region leading Texas in the industry and outperforming the rest of the United States.
And that’s saying a lot since CBRE researchers expect hotel occupancy to continue to increase through 2019, which has triggered real estate investors and developers to bank on the industry’s future.
Click to read more at Dallas Business Journal.
Irvine, California-based Golden State Foods Corp. plans to open a new $70 million manufacturing and distribution facility in North Texas to expand its liquid products division, bringing at least 150 new jobs to the region.
The soon-to-be built 160,000-square-foot facility at 5501 Vantage Drive at Highpoint Business Park in Burleson will help bolster Golden State Foods’ distribution capabilities to more than 125,000 restaurants and stores throughout the globe.
For building the facility in the Lone Star state and creating at least 150 jobs, the company received a Texas Enterprise Fund grant totaling $900,000. The new facility is expected to cost at least $70 million, fulfilling an investment requirement for the grant.
Click to read more at Dallas Business Journal.
A newly formed joint venture partnership — Dallas-based Atticus Real Estate and Agoura Hills, California-based AMCAL Equities LLC — plans to begin construction by the end of the month on a luxury community near the harbor of Lake Ray Hubbard in Rockwall.
Upon completion, the four-story, 228-unit apartment community, called Harbor Urban Center Apartments, will sit on a 2.14-acre tract at the southeast corner of Summer Lee Drive and Horizon Road, just south of Interstate 30, in Rockwall.
The site is one of the last remaining tracts zoned for apartments in the Rockwall Harbor neighborhood.
Click to read more at Dallas Business Journal.
Dallas-based StreetLights Residential and Dallas-based Westdale Real Estate Investment and Management have completed construction on the tallest building in Deep Ellum, which brings new luxury living options to the historic neighborhood.
The 17-story, 337-unit luxury apartment tower at 3131 Main St. near Hall and Main streets in Deep Ellum gives the historic Dallas neighborhood its first high-rise community.
The idea behind the two-year-old project was to create an authentic community reflecting the Deep Ellum neighborhood, said StreetLights CEO Doug Chesnut.
Click to read more at Dallas Business Journal.
With nothing expected to stop Dallas-Fort Worth’s strong and growing economy next year, some analysts say North Texas will be one of the top housing markets in the United States.
The region ranked as the No. 2 housing market in the country, behind Las Vegas, based, in part, on the region’s economic prowess, which includes a low unemployment rate and ability to build new homes for a fast-growing residential population, according to realtor.com’s 2018 National Housing Forecast released Wednesday.
Click to read more at Dallas Business Journal.
An Irving office tower in Las Colinas has sold to a new investor with the help of equity from Hong Kong and Honolulu, giving the limited liability company a stable, in-place cash flow.
Canal Centre Investors LLC, which includes equity from a 1031 exchange from a property sale in Hawaii, acquired Canal Centre for an undisclosed sum. The 10-story, 237,894-square-foot office tower is located at 400 E. Las Colinas Blvd. in Irving.
According to the Dallas Central Appraisal District, the building was last valued at $32.6 million. The property also includes an adjacent six-story parking garage.
Click to read more at Dallas Business Journal.