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Group buys former Armour meatpacking site in Stockyards

The 16.8-acre site of the historic, former Armour meatpacking plant in Fort Worth’s Stockyards has changed hands, and its new owners aren’t saying anything about their plans. Chesapeake Land Development Co., which bought the site

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Hulen Pointe Shopping Center sold

Hulen Pointe Shopping Center, located in southwest Fort Worth on South Hulen Street one mile south of Hulen Mall, has been purchased by Addison-based Bo Avery with TriMarsh Properties for an undisclosed price.

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Dallas-Fort Worth in top five commercial real estate markets in 2015

According to the Emerging Trends in Real Estate 2015 report, just co-published by PwC US and the Urban Land Institute (ULI), Dallas-Fort Worth ranks No. 5, with two other Texas cities, Houston and Austin ranking at No. 1 and 2 respectively. San Francisco ranks No. 3 and Denver No. 4.

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Social House Fort Worth plans to open mid-November

Social House has leased 5,045 square feet at 2801-2873 W Seventh St. in Fort Worth, according to Xceligent Inc.

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Fort Worth temporarily stops issuing new home permits in TCU area

The moratorium will give a committee and the City Council time to review a proposed overlay that will pare the number of permissible unrelated adults living in the same house.

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Alcon to lose about 120 research jobs in Novartis consolidation
By Bill Bowen
Novartis said it will consolidate its pharmaceutical eye-disease research projects in Cambridge, Mass., moving about 120 jobs out of Alcon Labs in Fort Worth that are part of the Novartis Institutes for BioMedical Research.
The move reflects a new strategic direction for the pharmaceutical company’s glaucoma and ocular inflammation research effort and still leaves about 950 jobs in the Alcon Research and Development operations in Fort Worth.
Cambridge is also the headquarters for the Novartis Institutes for BioMedical Research and the shift puts the entire effort in one spot, according to company officials.
“That’s where NIBR’s headquarters is and the NIBR drug discovery will be together,” said Alcon spokesman Dave Jackson said. Novartis has about 1,600 scientists in Cambridge, Jackson said.
The Alcon operations that remain are part of the Alcon Research and Development, which focuses on drug and device research and development will continue to operate with a full workforce, the company said.
Novartis, based in Basel, Switzerland, finished its acquisition of Nestle’s stake in Alcon in 2011 and the Novartis research unit has been based in Fort Worth for the past two years, Jackson said. Novartis has 119,000 employees and operates in 140 countries. It enjoyed sales of more than $50 billion in 2012.
Alcon began in 1945 as a Fort Worth pharmacy specializing in eye products. Novartis paid more than $50 billion for Alcon altogether. Alcon enjoyed sales of about $10.2 billion in 2012.
bbowen@bizpress.net

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