Opus West Corp. is a commercial real estate developer headquartered in Pheonix. Opus West Corp. is broke; they are filing for bankruptcy in Dallas and listing about 1.5 Billion Dollars of debt. Since they are one of the largest commercial developers in the country, it is no surprise that they have multiple projects in the Dallas Fort Worth Area. Every development will now be up for bid.
One such property is The Market Place at Highland Village. A cornerstone of mixed use retail in Highland Village, this is a 3 year old, 450,000 square foot, $85 Million Dollar development. The average household income within 1 mile of the shopping center is over $141,000. This is a tremendous property entering into bankruptcy. And I expect to see more.
You can check out some more vitals on the development here. And there really is a very impressive list of anchors stores. Some of which are mentioned in this article from the Dallas Business Journal.
There are several other properties and municipalities that this bankruptcy will affect (the Opus Corporate Center at Las Colinas comes to mind). I just thought that the Highland Village Marketplace was the most impactful of the local developments.
July 11th, 2009 at
[...] Read the rest here: Highland Village Marketplace Parent Bankrupt [...]
July 11th, 2009 at
Once you declare yourself bankrupt you can be free from all unsecured debts, pay back less and stop creditors chasing for payment. Real Estate