16Nov
I was reading an article concerning a metal recycling company moving out of the pat of the TRV project. They mentioned a term I was not familiar with; Brownfield Land. Apparently this refers to previously used commercial or industrial property which may be contaminated. Properties like this can potentially be used after environmental remediation has taken place.
Apparently it became relatively common for investors to purchase such properties after the dotcom bust. Nationwide there are several instances of such lands being successfully converted into housing developments and shopping centers. It seems like a relatively good investment for long term holders.
Come to think of it, this issue has put several local development projects on hold. I won’t mention them here, for fear of angering stagnant landowners.
09Nov
I’ve been meaning to mention that the recent buyout of Encore Acquisitions is going to have some ramifications on the Carter Burgess building. I am not sure how much space they take up in that building, but they will surely be vacating it soon enough.
A recent purchase attempt on the building fell through when the lender began to have concerns about the tenancy rates in the building. The largest concern would most likely arise from Jacobs Carter Burgess themselves, but they haven’t announced any plans to give up space. (And hopefully they won’t). Some people may not like the architecture of the building, but it is somewhat icon in our landscape. I for one would not like to see their tenancy dry up.
06Oct
No surprises here, the Fort Worth Cats baseball franchise is hurting for cash, and up for sale. Towards the end of their season I had heard that they were becoming insolvent and firing most of their non-essential employees. Now it seems that they have very few left.
Here’s the interesting part. The franchise is (according to its owner) worth about $40 million. That figure includes not only the team, but also LaGrave Stadium and about 60 acres of land around it. Forget about the team. I doubt anyone will be able to put them in the black anytime soon. 60 acres is a pretty considerable holding in the area that should become the Trinity River Vision Project.
Would be a great buy and hold.
26Sep
Here is a great article talking about the history and importance of the Fountain Place building in Dallas. The building was recently the target of an FBI sting operation which ended in the arrest of a would be bomber. The bomber, a 20 year old Jordanian man, was recruited by FBI agents via a militant Islamist website and provided with false explosives for carrying out his mission.
It is a beautiful building.
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