HOUSTON, TX—Third Avenue Development, LLC, the real estate division of Taylor Consulting, Inc., (TAYO) said Tuesday that it will begin due diligence toward another major acquisition in West Texas.
The deal would be for a “multi-lot real estate parcel in the booming corridor between Abilene and Midland, Texas,” the firm said in a statement, adding that the acquisition plans are part of ongoing work to build a “highly competitive portfolio of assets.”
A large influx of workers and residents drawn by the booming oil and gas industry in West Texas has made the region one of the hottest real estate markets in the country. Last month in Midland, home values grew by more than 23% year-over-year, pushing the city's median price to the No. 1 slot in Texas for the second time this year.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
