The massive “Shale Rush” ushered in by new oil and gas production in Texas is creating real estate demand not only for drilling and housing, but for retail, entertainment and other amenities. Through its new real estate division—Third Avenue Development, LLC—Taylor Consulting, Inc. (OTCBB: TAYO) is targeting smart acquisitions in the state’s hottest markets in order to capitalize.
“The demand for commercial real estate in Texas is increasing sharply, just as it is for residential properties”
Oil towns in West Texas such as Midland and Odessa are leading the nation in population growth spurred on by the extraction of oil and gas in areas once believed to be undrillable. An explosion in workers moving in to recover these resources has led to serious housing shortages, spiking demand for distressed and rehabilitated properties in the region.
But the energy industry isn’t the only one seeking out affordable real estate in the boomtowns. Big-box retailers, movie theaters, restaurants, grocers and other businesses primed to serve the growing population are also looking for suitable locations.
“The demand for commercial real estate in Texas is increasing sharply, just as it is for residential properties,” said TAYO CEO Scott Wheeler. “Retail outposts in the Permian region are outperforming the rest of the national store base, luring more businesses to the area.
“Anywhere you have a massive influx of workers, a building boom is sure to follow,” he added.
In addition to its sports consulting business, TAYO created 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.
TAYO plans to grow its national brand by building up its portfolio of assets in Texas, first, acquiring properties with high potential and applying multiple marketing strategies.
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