De La Vega Group Acquires 90-Acre Presidio North Site, Plans 500,000-SF Mixed-Use Development

A retail development expected to total 500,000 square feet is in the works after a locally-owned development partnership controlled by De La Vega Group acquired a 90-acre site at the southwest corner of I-35 West and Heritage Trace Pky. in Fort Worth, TX for an undisclosed amount.

Las Vegas-based Diversified Real Estate Group sold the tract known as Presidio North – the largest sale of a retail development site in Tarrant County year-to-date

Read the rest of this Article at CoStar.


DART seeks development partner for Mockingbird Station adjacent real estate

Dallas Area Rapid Transit (DART) is marketing its real estate to a potential development partner with the help of Cushman & Wakefield’s Dallas office, the brokerage firm recently announced, for an 11-acre tract of contiguous land along the rail line at Mockingbird Station.

DART also has been marketing its downtown Dallas headquarters, as well as other real estate, with the firm with the help of former board chairman and real estate attorney Robert W. Strauss.

Read the rest of this Article at Dallas Business Journal.


AT&T to spend millions on an ‘urban-tech’ Dallas campus; to add 1,300 workers

Telecom giant AT&T plans to spend millions renovating its downtown Dallas headquarters and adjacent plazas to create an “urban-tech center,” as it plans to add more than 1,300 employees in the next few years.

The Dallas-based company has been searching for a new corporate home in North Texas, which has included options — including new development — in downtown Dallas and a possible executive office in Frisco.

read the rest of this Article at Dallas Business Journal.


Exxon Mobil calls off lawsuit over Harris County’s appraisal of 385-acre campus

Exxon Mobil Corp. (NYSE: XOM) has stopped haggling with Harris County over its 2015 tax bill.

The Irving, Texas-based energy giant filed a motion to dismiss a lawsuit it filed against the Harris County Appraisal District over a $40 million property tax bill,according to the Houston Chronicle. In the lawsuit, Exxon had claimed HCAD’s $1.04 billion appraisal of the site for 2015 was “excessive and unequal in comparison with other similar property in the appraisal district.”

The filing comes a day before Exxon planned to release financial documents related to the property acquisition and construction of the campus, the Chronicle reports. The company already paid its disputed tax bill.

Read more at Dallas Business Journal


Dallas Midtown’s 20-acre focal point begins to take shape

The proposed centerpiece of the Dallas Midtown evolution will be unveiled at a town hall meeting next week.

This 20-acre focal point will tie in the rest of Dallas Midtown and could be a big draw to investors, developers and companies, said Bruce Bradford, president and CEO of the North Dallas Chamber of Commerce .

Read more at Dallas Business Journal.


Why Viridian’s ownership venture decided to buy McKinney’s Trinity Falls

A joint venture between The Johnson Development Corp. of Houston and Toronto-based Tricon Capital Group Inc. (TSE:TCN) acquired Trinity Falls, a 1,700-acre master-planned community in McKinney, with plans to bolster home sales in coming years.

Terms of the acquisition were not immediately disclosed. The team acquired it from Austin-based Castle Hills Partners.

Read more at Dallas Business Journal.