Dallas Business Journal articles from March 1999

Dallas Business Journal archives from March 1999

Tenants face sticker shock: office rents for many D-FW companies to double.(Dallas-Forth Worth, Texas)
March 5, 1999... NORTH DALLAS - Every year, office manager Bob Gibbs has been cutting rent checks for $82,000, or $13 a square foot, for the Dallas Pediatric Neurology offices at 12801 N. Central Expressway. Next January, when the company's lease expires,...

Vacancies in Las Colinas crimp plans.(Wilcox Development Services Inc. plans to build an office building in Texas)
March 5, 1999... LAS COLINAS - Wilcox Development Services Inc. may abandon its plan to put up a 22-story, 484,000-square-foot office building in the Urban Center here. "A decision won't be made until the construction drawings are complete," said John...

Project planned at gravel site.(Tarrant Acquisition Ltd. purchases the River Trails property in Forth Worth, Texas)
March 5, 1999... River Trails development to include commercial buildings and single-family homes FORT WORTH - A limited partnership has snapped up 714 acres in northeast Fort Worth, where it plans to convert a sand-and-gravel extraction operation into a...

Canadian firm selects D-FW.(Nertec Design Inc. moves its headquarters to Dallas-Forth Worth, Texas)
March 5, 1999... RICHARDSON - Seeking to capitalize on expected deregulation of the electric utility industry, a Canadian maker of hardware and software for remote meter reading is moving its headquarters to Richardson. Nertec Design Inc. set up its U.S....

Haute cuisine comes to Uptown.(French restaurateur Jean-Michel Sakouhi plans to open the Le Paris bistro in the Dallas-Forth Worth Metropolitan Area)
March 5, 1999... Frenchman to open 'authentic' Le Paris bistro in former antiques store UPTOWN - French-born restaurant veteran Jean-Michel Sakouhi has finalized plans for what he claims will be the first "authentic" bistro in the Metroplex. Sakouhi...

D/FW welcomes Japan Air as new player in global hub.(Dallas/Forth Worth International Airport)
March 5, 1999... D/FW INTERNATIONAL - Thanks to a code-sharing agreement between Japan Air Lines and American Airlines Inc., the two carriers won't complete head-to-head for the lucrative passenger market between Tokyo and Dallas/Fort Worth International...

I-35 upgrades to relieve southern traffic congestion.(Interstate-35)
March 5, 1999... LANCASTER - Southern Dallas County's largest highway project will begin in 2000 when a 4.5-mile stretch of Interstate 35 gets a $64 million face-lift. The improvements are expected to relieve traffic congestion, spur development and raise...

Aging Bennigan's restaurants get fresh look.
March 5, 1999... PLANO - Metromedia Restaurant Group aims to put a new face on its aging Bennigan's Grill & Tavern brand. A new prototype, a systemwide reimaging campaign, an updated menu and a relatively new franchising program has the Piano-based...

Sterling Commerce's stock tumbles under scrutiny.
March 5, 1999... NORTH DALLAS - It should be smooth sailing and blue skies for Sterling Commerce Inc. And yet some clouds have darkened Sterling's sky of late: * The company's stock (NYSE: SE) has dropped more than 30% since Feb. 5, when Sterling...

Men's hair salons clip their way into D-FW.(Dallas-Forth Worth, Texas)
March 5, 1999... Two chains to offer fast service, sports themes Two hair-care chains aim to convince consumers that beauty routines can be macho by creating a new niche in the local market: Hair salons for men. Experts say the Metroplex stores are on...

Legislation addresses cities' alcohol sale rights.(Southlake and Mansfield, Texas)
March 5, 1999... Truitt bill could affect 108 Texas cities, boost tax revenue SOUTHLAKE - Tonight, grocery shoppers in Southlake wanting to buy a bottle of wine have to travel elsewhere. In Mansfield, restaurant diners know they won't be able to order a...

Jeff Sinelli.(JPS Enterprises Inc. president)
March 5, 1999... Entrepreneur uses Dallas as testing ground for theme concepts DEEP ELLUM - Jeff Sinelli is a hustler. He hustles 20 hours a day to keep up with the demands of his four nightclubs and restaurant. People who know the 30-year-old...

Hotels booming in Frisco.(Texas)
March 12, 1999... But experts fear overbuilding, soft occupancies in the full-service segment FRISCO - Despite concern that the area won't support so many hotels, developers are rushing to put up a number of full-service hospitality. properties in the...

Standard to lay off 200 at Dallas parts plant.(Standard Motor Products Inc.)
March 12, 1999... Company to relocate operations to Mexico DALLAS - A New York auto parts maker is trying to quietly move its Dallas manufacturing plant to Mexico, laying off 200 employees in the Metroplex. Executives at the publicly held Standard Motor...

CLB plans eight-story loft condominiums.(CLB Partners)
March 12, 1999... Cedar Springs called 'logical' spot for upscale, for-sale housing UPTOWN - Two former Columbus Realty Trust executives are planning luxury condominiums southwest of the Hotel Crescent Court. CLB Partners has assembled several lots for...

Echelon's multifamily units first for Keller Town Center.(apartment complex in Texas built by Echelon Residential Inc.)
March 12, 1999... 276-unit complex offers area more rental options KELLER - The 276-unit apartment complex being constructed by Echelon Residential Inc. in Keller Town Center will be one of the only multifamily housing options available in the area. ...

Bank of Texas' ambitious growth plan is paying off.(bank acquisitions)
March 12, 1999... NORTH DALLAS - With its third local acquisition in seven days, Bank of Texas N.A. has leapfrogged from No. 9 to No. 4 in asset size among banks based in the Metroplex. The deals put a cap on an astonishing two-year period that has seen the...

American's aggressive plan to boost D/FW departures.(American Airlines Inc. to increase departures from Dallas/Fort Worth International Airport)
March 12, 1999... Airline plans to add 10,000 new flights this year D/FW AIRPORT - New aircraft and more terminal gates mean Fort Worth-based American Airlines Inc. in 1999 will boost departures out of Dallas/Fort Worth International Airport more than 5%,...

Chip industry shows signs of growth after downward cycle.(semiconductor industry in Dallas, Texas)
March 12, 1999... FAR NORTH DALLAS - For the first time in several years, a little light is seeping into what has been a dark world for the chip industry. Sales in the fourth quarter of 1998 were up 10.8% over the third quarter. Stocks of companies involved...

CB Richard Ellis wins bid to market Raytheon's massive Lewisville plant.(real estate brokerage firm wins contract to market aircraft parts company's facility in Texas)
March 12, 1999... LEWISVILLE - It's no simple assignment, but an official with CB Richard Ellis Services Inc. said he's excited about the brokerage firm's latest big project: marketing Raytheon's nearly 1.5-million-square foot Lewisville facility. Word...

Mail must go through: Direct Logistics delivers, saves customers money with freight carrier setup.
March 12, 1999... CARROLLTON - As a veteran of the direct mail industry, Glenn Lemons knew an opportunity when he saw one. Eight years ago, the U.S. Postal Service began an incentive program for bulk mailers that would reduce postal rates for mailers who...

'Nafta Railway' expands in D-FW; Kansas City Southern pumping $25 million into Wylie, East Dallas facilities.(Kansas City Southern Railway Co.; Dallas-Fort Worth, TX)
March 19, 1999... EAST DALLAS - Kansas City Southern Railway Co., whose tracks help form the most direct route from the Atlantic seaboard to the Pacific Coast, is investing $25 million to expand its Metroplex rail yards. The move is intended to help railroad...

Redevelopment seen as key for Preston Center.
March 19, 1999... NORTH DALLAS - The impending loss of Preston Center's 42-year-old department store anchor could pave the way for a mixed-use development on the center's aging western side. Foley's announced plans earlier this month to abandon its...

Radio power.(Sunburst Media L.P.'s growth)
March 19, 1999... John Borders' Sunburst Media snaps up more than a dozen radio stations in three years, becoming a broadcast company to be reckoned with FAR NORTH DALLAS - A Dallas broadcasting company wants to top a period of rapid growth by grabbing at...

Retail, golf planned in McKinney.(American Realty Trust Inc.'s 427-acre development project)
March 19, 1999... MCKINNEY - American Realty Trust Inc. is mapping out plans for a 427-acre development with a neighborhood retail center, 1,500 apartments, a championship golf course and office space in fast-growing McKinney. Analysts say the project,...

Tech Data Corp. doubles Alliance space; world's second-largest tech distributor cites rapid business growth.
March 19, 1999... ALLIANCE - Computer products distributor Tech Data Corp. will more than double the size of its Fort Worth Alliance Airport facility, a company official said. The growing company will add 285,000 square feet to its slightly more than...

Motor Speedway may move up plans for industrial park.(Texas Motor Speedway)
March 19, 1999... FORT WORTH - As Texas Motor Speedway prepares to open its $35 million Speedway Club on March 25, officials are already talking about the next project - an industrial park for auto-related businesses. The park on the northeast corner of the...

USA Radio gets its 'feet wet' with limited IPO.(USA Radio Network; initial public offering)
March 19, 1999... FARMERS BRANCH - USA Radio Network hopes to raise $1 million through a limited initial public offering. The 14-year-old, family-owned company launched its "SCOR" offering on March 4 with 100,000 shares of common stock priced at $10 a...

Broadcast.com may walk down the aisle with Yahoo!(merger)
March 19, 1999... DEEP ELLUM - It's almost a given now that normal rules don't apply to Internet stocks. The latest example comes from Dallas' own broadcast.com. For the past few weeks, speculation has been brewing that the Dallas supplier of audio and...

Bradford Cos. finds buyer for Lakepointe center.(H.T. Ardinger & Son Co.; Lakepointe Distribution Center)
March 19, 1999... H.T. Ardinger & Son to consolidate five Brookhollow buildings LEWISVILLE - After more than a year of unsuccessful attempts to lease its 391,000-square-foot Lakepointe Distribution Center in Waters Ridge Business Park, Bradford Cos. has...

Southwestern Bell disputes findings of FCC audit.(Southwestern Bell Telephone Co.; Federal Communications Commission)
March 19, 1999... DOWNTOWN - A controversial federal audit says SBC Communications Inc.'s Southwestern Bell Telephone Co. is unable to find $1.15 billion worth of telecommunications and other equipment, and should write off that amount from its books. The...

GATX picks Grand Prairie.(GATX Logistics Inc. consolidates warehouses at the Great Southwest Industrial Park in Grand Prairie, Texas)
March 26, 1999... Logistics company consolidating D-FW facilities in as much as 1.2 million square feet of space GRAND PRAIRIE - GATX Logistics is consolidating several of its Metroplex locations into at least two warehouses here and negotiating for a third...

Development drive pays off.($342 million in commercial, industrial and retail investments go to Grand Prairie, Texas)
March 26, 1999... GRAND PRAIRIE - An aggressive three-year push to attract new business is paying dividends for the city of Grand Prairie, particularly with growth in the Great Southwest Industrial District. In 1998 alone, the city added $342 million in...

Senior-living firm taps into Texas potential.(EdenCare Senior Living Systems)
March 26, 1999... NORTH RICHLAND HILLS - When baby boomers move to the Dallas-Fort Worth area for better job opportunities, they bring their children and their parents. EdenCare Senior Living Services plans to make Texas its biggest market because of the...

Allied Riser: wired for success.(Allied Riser Communications Inc.; high-speed Internet and data services)(Company Profile)
March 26, 1999... The firm's unique, high-speed data-services play is attracting investors, including billionaire property tycoon Sam Zell DOWNTOWN DALLAS - With more than $65 million in venture financing and ties to Chicago real estate magnate Sam Zell, a...

Insider trading raises sticky issues.(broadcast.com in talks with Yahoo over possible sale)
March 26, 1999... Sale of broadcast.com stock fuels questions about Yahoo! deal price DEEP ELLUM - Several insiders at broadcast.corn, including Tom Hicks, sold large blocks of the Dallas company's stock around the time news broke last Friday that it is in...

Alcon to build $30 million plant at Fort Worth campus.(Alcon Laboratories to build in Fort Worth, Texas)
March 26, 1999... FORT WORTH - Alcon Laboratories Inc. is building a 99,000-square-foot manufacturing plant at its Fort Worth headquarters campus. The plant is part of Alcon's plan to expand its line of contact lens care solutions, said Mary Dulle, director...

AMX corp. looking for site for expanded headquarters.(remote control systems specialist)(Company Profile)
March 26, 1999... Recent stock price fall is temporary, officials say NORTH DALLAS - Rapidly growing AMX Corp. is scouring the Metroplex for a larger headquarters. AMX, a maker of remote control systems for everything from lighting to drapes and...

Wylie hospital closing is 'shock to community.'.(Presbyterian Medical Center)
March 26, 1999... Presbyterian, Tenet attribute closing to lack of managed care contracts WYLIE - Operating a hospital isn't easy in this Collin County town. Over the years, a handful of companies have tried and failed, leaving the city without a...

Frito-Lay commits to second South Dallas development.(snack food company to set up sales and distribution office)
March 26, 1999... $4 million distribution center to create 126-jobs SOUTH DALLAS - As interest in long-ignored South Dallas continues to heat up, Plano-based Frito-Lay is planning a $4 million distribution facility here that will create 126 jobs. The...

Intelect Communications again tries for financial turnaround.(Company Profile)
March 26, 1999... Officials predict improved second-quarter outcome RICHARDSON - In the eyes of some on Wall Street, the story of Intelect Communications Inc. boils down to two words: overpromise, underdeliver. By its own admission, the Richardson...

Local agenda attracts American to arena deal.(American Airlines naming-rights pact with Dallas sports arena)
March 26, 1999... DOWNTOWN DALLAS - American Airlines may have broken new ground with its $195 million naming-fights pact for the Dallas sports arena. But a closer look at the agreement reveals a throwback to sports marketing deals of the past, driven by chummy...

Tarrant County portion of Trinity Railway is on track.(Trinity Railway Express portion in Tarrant County, Texas)
March 26, 1999... FORT WORTH - It's been derailed again and again with costly and time-consuming delays, but now the Trinity Railway Express appears to be getting back on track and gaining speed. On Monday, Tarrant County dignitaries will gather to "blow the...