HOUSTON--(BUSINESS WIRE)--A new railroad project promises to drive up demand for real estate in one of the fast-growing West Texas towns where Taylor Consulting Inc. (OTCBB: TAYO) has invested heavily.
Earlier this month, the ribbon was cut on the new Burlington Northern and Santa Fe Railway Logistics Center, a $45 million project that will create new, permanent jobs and accommodate growing transportation needs across multiple industries, including sand, pipe, aggregate and agricultural products. The new logistics center is going up in Sweetwater, Texas, where TAYO’s real estate division, Third Avenue Development, acquired the deed to 64 tracts of land earlier this year.
“This railyard revitalization will only serve to increase the demand for real estate in Sweetwater as transportation and commerce improve and increase there,” said TAYO CEO Scott Wheeler. “The logistics center will serve as an economic hub in the region as the Cline Shale continues to be explored for many, many years.
“Third Avenue Development will continue to seek out and invest in the booming towns and cities of West Texas for as long as the area continues to be the heart of America’s economic engine,” he added.
TAYO has placed a high priority on the acquisition of real estate on or near West Texas’ massive Permian Basin, where drilling and exploration have drawn thousands of new workers and residents. Population growth has averaged 1.7 percent annually over the past three years in the Lone Star State—more than double the national average. To capitalize, the company is strategically building a real estate portfolio of prime properties in counties surrounding the area in West Texas.
About Taylor Consulting Inc.
Taylor Consulting, Inc. (TAYO) recently created Third Avenue Development, LLC as a new division whose primary goal is 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 others.
Third Avenue Development, a premier hybrid real estate investment and development company, is building an emerging portfolio of real estate assets for investment, rehabilitation and 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. For more information, visit www.ThirdAvenueDevelopment.com.
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