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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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Flotek buying Florida Chemical for about $102.5M

 

HOUSTON (AP) — Oilfield services provider Flotek Industries Inc. is buying citrus oils processor Florida Chemical Co. in a cash-and-stock deal valued at about $102.5 million.

Florida Chemical has served as a supplier and partner to Flotek for more than 15 years.

"This strategic acquisition enables Flotek to secure supply of key raw materials as well as direct control over raw material costs and inventory," Flotek Chairman, President and CEO John Chisholm said in a statement.

Flotek will pay $49.5 million in cash and about 3.3 million of its shares in the transaction.

Flotek shares closed at $1.05 per share on Thursday.

Privately held Florida Chemical makes bio-based products for a variety of industries, including applications in the oil and gas business. The Winter Haven, Fla., company uses solvent, chemical synthesis and flavor/fragrance applications from citrus oils at facilities in Florida and Texas.

Houston-based Flotek said that it has reached an amended and restated credit agreement with PNC Bank. The bank is boosting Flotek's total credit agreement to $150 million, which includes a $50 million term loan and a $75 million revolving credit facility. Flotek said Friday that it plans to fund the cash part of the acquisition with proceeds from the term loan and credit facility.

Flotek said it doesn't plan to make any immediate changes to the structure and operations of Florida Chemical.

The company's president and CEO, Josh Snively, will continue as president when Florida Chemical becomes a Flotek subsidiary.


 

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