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Dallas Business Journal
Developer plans expansion of 160-acre project in Flower Mound
Realty Capital Management LLC, the master developer for the 160-acre Lakeside development in Flower Mound, is planning a mixed-use expansion.<\p> The 21-acre expansion will be on the northeast corner of International Parkway and Lakeside Parkway, the single remaining undeveloped corner at the intersection where the project is located. <\p>
Biggest bank based in DFW names new Dallas market president
Comerica Bank, the largest Dallas-based financial institution, has a new leader in its home market.<\p> The bank, a subsidiary of Comerica Inc., promoted David Milton to Dallas market president, the company announced in a May 15 news release. Milton will also serve as Comerica’s director of middle market and business banking. He will report to Corey Bailey, executive vice president of middle market and business banking. <\p>
Big DFW bank launches public finance practice
Texas Capital Bank is launching a public finance practice and has brought on a former executive from one of the world's largest investment banks to lead the effort.<\p> Dallas-based Texas Capital Bancshares Inc. (Nasdaq: TCBI), the parent company of Texas Capital, announced on May 15 that Steve Genyk has joined its investment banking arm as managing director, head of public finance. Genyk joins Texas Capital from UBS Financial Services Inc., a subsidiary of Swiss banking giant UBS Group AG. At UBS, Genyk worked in several leadership positions, including head of public finance, head of institutional middle markets and head of municipal trading. <\p>
Elevated interest rates force re-pricing of billions in CRE debt
Just shy of $20 billion in commercial mortgage-backed securities debt backing U.S. office properties is set to mature in the next year, occurring at a time that's now also expected to feature a higher-for-longer interest-rate environment. <\p> Moody's Analytics Inc. found that as of April, $19.9 billion in office CMBS loans will mature by next spring. That's a marked increase over the $8.75 billion in office CMBS debt that matured in 2023. <\p>
The coveted perk that could be critical for workforce development
As the focus shifts from recruitment to retention in a still-tight hiring market, many employers are searching for the incentives that will retain workers. <\p> While perks like four-day workweeks, unlimited vacation and remote work are often in the spotlight, another coveted perk is career development and upskilling opportunities. <\p>
Fort Worth Stockyards gets new — but old — Tex-Mex restaurant
The family behind Fort Worth Tex-Mex staple Los Vaqueros has sold its building and plans to move the restaurant down the street, into the Stockyards.<\p> The restaurant will relocate from 2629 N. Main St. to the 1911 Stockyards Exhibits building at 2501-2519 Rodeo Plaza. It will be in the same building as the John Wayne museum and the Texas Cowboy Hall of Fame and near country music venue Billy Bob's Texas.<\p>
Window maker shutters DFW plant, impacting hundreds
A vinyl window manufacturer recently closed a plant in Carrollton, impacting around 260 employees. Some were laid off, and around half were given transfers to a Dallas location. <\p> Houston-based Westlake Royal Building Products USA Inc. closed its facility, located at 1813 Kelly Boulevard, which is a part of Beltline Business Center, on May 4. As many as 125 impacted workers were offered a similar position at the company’s nearby facility at 3950 Bastille Road near West Dallas.<\p>
DFW rivals NYC for top apartment leasing market as renters snag deals
Demand for Dallas-Fort Worth apartments has been higher than typical for the first months of the year after a long string of falling monthly rates, but the good deals for renters may be coming to a close.<\p> Apartment dwellers filled just over 5,000 units in the first quarter, making it the busiest first quarter since 2019, exempting 2021 when pent-up demand and relocations put the apartment market into overdrive, according to a new analysis from CoStar Group researchers.<\p>
Sports bar chain based in DFW moves toward IPO
The parent company of Twin Peaks has confidentially filed to take the Addison-based sports bar chain public through an initial public offering.<\p> Fat Brands Inc. (Nasdaq: FAT) announced the filing on May 14. The Los Angeles-based franchising company had previously disclosed plans to take Twin Peaks public in June 2023. Barbecue restaurant chain Smokey Bones will also go public through the transaction, according to multi-concept restaurant operator Fat Brands. Further details about the IPO, including timing and pricing, were not available.<\p>
1,500 homes slated for community east of Dallas
Homes could soon start popping up in a new neighborhood east of Dallas.<\p> Northspur, an about 700-acre master-planned community by Hines and Trez Capital, is in the works about 27 miles east of downtown Dallas in Terrell. It's on the westernmost edge of Terrell, near Forney.<\p>
Financial services giant names new CEO
Irving-based ATM and self-checkout innovator Hysoung Americas has named Kunoh Kim as its chief executive officer.<\p> Kim replaces Sang Hwan Kweon, who came into the role in October 2022 after serving as the company’s chief operating officer.<\p>
Real estate software firm appoints new CFO
Dallas-based Tango Analytics, a real estate and facilities management software company, has appointed Tim Redfern to chief financial officer, according to a May 13 announcement.<\p> Redfern replaces Sebastian Peluffo , who joined the company in January 2023 after former CFO Mark Wise retired.<\p>
Walmart may close Dallas-area office
Shifts in Walmart Inc.'s office strategy will mean the shutter of its Dallas-area office, according to the Wall Street Journal.<\p> The retail giant will ask workers at "small offices" in the Dallas, Atlanta and Toronto areas to relocate, the Journal reported. Walmart (NYSE: WMT), the country's largest employer with around 1.6 million workers in the U.S., is also cutting hundreds of corporate jobs and curtailing remote work, according to the Journal.<\p>
Giant in medical apparel to close in Dallas, cut hundreds of jobs
A California-headquartered medical scrubs company is closing its Dallas facilities and cutting 404 jobs effective May 31. <\p> Careismatic Brands Inc. informed the state of plans to close its distribution centers at 35500 Lyndon B. Johnson Freeway and 4715 Mountain Creek Pkwy. in a May 2 Worker Adjustment and Retraining Notification letter.<\p>
CEO extols HQ move to DFW from California
This story is available as part of a content partnership with WFAA-TV. For more of the latest local news, visit WFAA.com. And for even more on Cacique Foods' move to North Texas, tune into WFAA at 10 p.m. Tuesday, May 14.<\p> Cacique Foods was about as California as it comes, having spent nearly 50 years nestled in the foothills of the San Gabriel Mountains. But as the company celebrates the one-year anniversary of its move to North Texas, CEO Gil de Cardenas has no second thoughts about uprooting the family business.<\p>
Growing share of real estate agents weigh leaving their brokerages
The Covid-19 pandemic and a recent wave of class-action lawsuits have pushed more real estate agents to consider leaving their brokerages.<\p> Those findings, from the latest annual Agent Priorities Report from Coldwell Banker Real Estate, found while 61% of agents surveyed plan on sticking with their company this year, that’s down from 75% in 2023.<\p>
Dallas pizza chain could expand to another part of Texas
Pie Tap Pizza Workshop and Bar, a popular Dallas-based chain known for its scratch-made pizzas and pastas, is preparing to open its first Houston location.<\p> The company has leased a 4,059-square-foot space at 3748 Westheimer Road near the Highland Village shopping center and is in the process of building out the space for the restaurant, according to a filing submitted to the Texas Department of Licensing and Regulation.<\p>
Airline credit-card reward programs in regulators' crosshairs
The nation's major airlines are drawing heat over their branded credit-card reward programs, with federal regulators targeting consumer complaints that claim many perks don't live up to the hype and sometimes cost more than they are worth. Those findings...
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