HOUSTON--(BUSINESS WIRE)--Taylor Consulting, Inc. (OTCBB: TAYO) continued to add to its growing real estate portfolio this week when its real estate division, Third Avenue Development, LLC, contracted a new property in the booming region of West Texas.
The company signed a contract to purchase a one-acre frontage lot on Interstate 20 between the West Texas population centers of Abilene and Odessa. It will be the second property that Third Avenue has acquired in the area as TAYO targets promising and versatile real estate assets in one of the fastest-growing regions in the country.
“We’ve been conducting extensive market research on the I-20 transit corridor, and this property perfectly fit the profile that we’re looking for,” said TAYO CEO Scott Wheeler. “The freeway frontage makes it well-suited to a wide variety of uses, allowing us to pursue multiple potential revenue streams.”
TAYO continues to conduct due diligence toward additional real estate acquisitions in West Texas. Across the state, oil and gas drilling activity continues to attract new residents and create jobs. The state’s population growth has averaged 1.7 percent annually over the past three years, more than double the national average. The Permian Basin, anchored by Midland and Odessa, has several shale plays that will likely produce more than 1.3 million barrels of oil per day by 2017, according to many oil industry experts.
In addition to its traditional sports consulting business, TAYO recently created a new division—Third Avenue Development, LLC—to invest in promising real estate assets to compete alongside American Homes 4 Rent (NYSE: AMH), Silver Bay Realty Trust Corp. (NYSE: SBY), Equity Residential (NYSE: EQR), Essex Property Trust Inc. (NYSE: ESS) and more.
For more information on Third Avenue Development, please visit www.ThirdAvenueDevelopment.com.
About Third Avenue Development, LLC
A division of Taylor Consulting, Inc. (TAYO), Third Avenue Development, LLC, is building an emerging portfolio of real estate assets for rehabilitation and rent or resale. The company is focused on acquiring properties in the country’s top-performing housing markets in order to capitalize on the continued recovery and growth of the U.S. real estate marketplace.
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