Transwestern Just Bought 3 Firms And It Could Buy More

Universal Parks & Resorts is bringing one of its signature entertainment complexes to North Texas.

The 97-acre theme park will be located at the Dallas North Tollway and Panther Creek Parkway in Frisco, according to a news release. The property, which will fall within the forthcoming $10B Fields development, was acquired in December using a Delaware-based shell company, per the Dallas Morning News.

Aimed at families with young children, the park is slated to include family-friendly attractions, interactive shows, character meet-and-greets, merchandise, and food and beverage venues, according to the release.  Plans include an adjacent 300-room hotel and additional land for future growth. The property will also include retail and restaurants.  “You have…

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A potential Federal Trade Commission rule change that would ban noncompete clauses across the board in U.S. employment contracts would have ripple effects through the business world, including touching off a wave of change in CRE, where the clauses are often deployed, especially for top earners.

Noncompete clauses are pervasive in today’s commercial real estate landscape, with companies relying on them to keep top producers in their ranks and protect their client rolls and trade secrets. But a new push by the Biden administration to boost pay and employee mobility by doing away with the clauses could put an end to that, allowing brokers in particular to jump ship more easily.

“It's hard to overstate how significant this would be in terms of unlocking worker mobility, and allowing the U.S. to put its human capital to highest and best use,” said John Lettieri, president and CEO of the Economic Innovation Group, a public policy group focused on improving economic competitiveness. “I often compare this to a clogged artery, in that they artificially block the free flow of talent and ideas.”

Within CRE, this proposed rule change, based on the FTC’s broad antitrust powers, would make a difference. But experts disagree as to the extent with which this would change the industry, and top lobbyists aren’t yet sure how to approach the situation.

CRE Recruiting founder Allison Weiss said the rule might have significant impact on senior brokers and executives, as well as some of the more specialized roles within REITs that deal with financial engineering or structuring complicated deals. “If you're someone at a higher level, at higher levels of experience, this is…

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Amazon has launched a gambit to leverage its vast warehouse empire by selling and delivering products for independent retailers. The online retail giant announced Wednesday that it plans to open its Buy with Prime program to all eligible U.S.-based merchants Jan. 31, after launching in April as an invitation-only…

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