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Bright Realty recently broke ground on the new lifestyle destination that includes office, dining, retail, entertainment and multifamily developments, with Phase I of the project called Offices at The Realm.
American Landmark is capitalizing on the inherent suburbanization of the DFW MSA facilitated by the recent completion and opening of State Highway 360, with access to downtown employment centers.
Based in Texas, the firm is one of the lead providers of portfolio-related corporate services to large corporations around the world that are still privately held.
DFW remains high on investors' radars and an opportunistic retail product with a desirable size and scale resulted in a high level of investor interest including the out-of-state buyer of the Vista Ridge assets.
As the region increasingly grows, particularly in the finance industry, employment hubs become more of a focus as a way to integrate functions for efficiencies, better customer service and cost management.
The lack of affordable housing options continues to drive working Americans out of the cities, and even out of a home as new residential construction is too little and too pricey to fill the demand gap.
The underlying issue with valuations is the appraisal review board within the appraisal system, says Rahul Patel, managing partner of Patel Gaines, a Texas-based law firm specializing in property tax issues.
NorthPark Center in Dallas remains the top tax-paying property in Texas, and even with the 2% tax increase it received since last year, it dropped two positions to 75th nationally, according to a recent study.