Cohen Asset Management, a California-based investor, has acquired a fully leased 920,000-square-foot distribution building in North Texas, currently occupied by Amazon. The property was previously owned by a Chicago investor, according to a Dallas Morning News article. They say,
“A California-based investor that has already made North Texas property buys has snapped up another big building.
Cohen Asset Management Inc. owns industrial and logistics buildings in California, Arizona, Texas, Georgia, New Jersey and New York.
The investor’s latest North Texas purchase is a more than 920,000-square-foot distribution building that’s fully leased to Amazon. The big warehouse at 3351 Balmorhea Drive south of Interstate 20 was constructed in 2016 and has been owned by a Chicago investor.”
Wells Fargo, a California-based company, is investing in Texas by constructing an 850,000-square-foot office in Las Colinas. Governor Greg Abbott sees it as a significant achievement for his administration, according to a Newsbreak article. They say,
“Another Californian company is investing in Texas. Wells Fargo is building an 850,000-square-foot, 22-acre office in Las Colinas that will cost a reported $500 million. The campus will take two years to build and, when complete, will house 3000 workers.
Texas Gov. Greg Abbott attended the groundbreaking ceremony and quickly claimed this as another massive win for his administration.”
In support of Wells Fargo’s office construction in Las Colinas, the Texas Enterprise Fund is granting $5 million, while Irving city is providing $31 million. This project will generate 650 jobs and bring $455 million in investment to the area.