United Real Estate has added to its foothold in North Texas, announcing a merger between Fort Worth-based Stryve Realty and United Real Estate | DFW Properties, based in Grapevine.
The combined operations include two offices in Fort Worth and one in Grapevine under the United banner. The move expands United | DFW Properties to more than 200 agents in the region. Stryve Realty founder Shawn Buck will support brokerage services and organizational growth as associate broker, strategic growth partner, moving forward.
“This partnership is the right move at the right time. The brokerage industry is quickly evolving,” said Buck. “United is empowering agents and teams to build their own brands and run their businesses according to their needs. It’s a bottom-up instead of a top-down management approach.”
Buck said the firm’s agents will benefit from United’s brand recognition, technology, training, referral network, health care plans and retirement options.
This is the second merger in 12 months for United DFW Properties, following its October 2023 merger with Fort Worth’s Insight Realty, which added approximately 100 agents to the agency. Stryve Realty’s merger will add 60 more agents and an office on the westside to expand United’s service footprint.
United Real Estate now operates in 32 states with 158 offices and more than 21,000 agents. The company produced over 70,000 transactions and $27.8 billion in sales volume in 2023.
Is a Lone Star stock market coming?
Dallas-based TXSE Group Inc., with backing from more than two dozen investors such as BlackRock and Citadel Securities, announced plans to launch the Texas Stock Exchange (TXSE) headquartered in Dallas. TXSE will focus on enabling U.S. and global companies to access U.S. equity capital markets and will provide a venue to trade and list public companies. TXSE will be a fully electronic, national securities exchange that will seek registration with the U.S. Securities and Exchange Commission.
With approximately $120 million raised, TXSE is expected to be the most well-capitalized exchange entrant to file a registration with the U.S. Securities and Exchange Commission, according to the company.
“Changes in equities trading markets are driving more volume to exchanges and more choices for issuers and sponsors,” said James Lee, founder and CEO of TXSE Group Inc. “TXSE will ultimately create more competition around quote activity, liquidity and transparency, resulting in more consistent and reliable markets that benefit investors, global issuers and liquidity providers alike.”
UT patents ranked No. 3
Researchers from the University of Texas at Arlington received 20 patents for their work in 2023, contributing to the University of Texas System’s overall ranking of No. 3 in the Top 100 U.S. Universities Granted U.S. Utility Patents in 2023 list. In 2023, UT institutions were granted 235 U.S. patents, surpassing the 225 patents granted in the previous year.
Compiled by the National Academy of Inventors, the rankings are based on data obtained from the U.S. Patent and Trademark Office. The University of California system and Massachusetts Institute of Technology claimed the top two spots, respectively.
“This distinguished list is more evidence of the commitment to innovation from UTA’s extremely talented faculty, students and staff,” said Kate C. Miller, vice president of research and innovation for UTA. “Combined with the efforts of our Center for Entrepreneurship and Technology Development, UTA fosters a supportive environment for anyone seeking to innovate, commercialize new technologies or launch companies for the betterment of our North Texas communities and the global economy.”
In addition to its success in securing patents, the UT System achieved a record $4.3 billion in total research expenditures across its 14 academic and health institutions in fiscal year 2023. This includes over $2 billion in federally sponsored research, positioning the UT System as No. 1 in Texas and No. 2 in the nation among American universities and systems of higher education.
Fort Worth firm sells Dallas asset
M2G Ventures, a North Texas-based real estate investment and development company, and Pennybacker, a real assets private equity firm, sold its more than 250,000-square-foot Proto Park industrial project at 3200 Irving Blvd. in Dallas to California-based Bendetti for an undisclosed amount.
The joint venture acquired Proto Park in September 2020 and completed the redevelopment of the project in the fourth quarter of 2021. It transformed from a 1960s brick warehouse into a premier project of choice for logistics companies, consumer distribution tenants and e-commerce players.
“There was great attention to detail paid in the redevelopment of Proto Park. The modern and refined aesthetic combined with the practical innovations amplify the utility of the structure and set it apart from other industrial buildings,” said Jessica Miller Essl, co-president of M2G. “This asset’s first-class design with 24-foot clear heights and flexible suite sizes enables users to customize spaces to serve a wide range of light industrial purposes from logistics to showrooms to manufacturing.”
The property is 100% leased to Morrison Supply, Taxila Stone, Preziosa Stone, Dynasty Distilling and an undisclosed international aviation group.
Newmark represented M2G Ventures in the sale to Bendetti, while Stream Realty Partners represented M2G for leasing.
Do you have something for the Bob on Business column? Email Bob Francis at bob.francis@fortworthreport.org. Bob Francis is business editor for the Fort Worth Report. Contact him at bob.francis@fortworthreport.org. At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Read more about our editorial independence policy here.
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