Texas Music Factory For Sale
The Music Factory development in Irving, Texas, is looking for buyers or investors for the $175 million, 17-acre, mixed-use project that includes a 4,000-seat concert hall, 8,000-seat amphitheatre and more than 300,000 square feet of retail, restaurant and office space.
in Irving, Texas. Announced by Live Nation Dec. 3.
A movie theatre is included in the project, which is expected to open next year next to Irving’s convention center. According to the Dallas Morning News, almost 97 percent of the development is already leased to restaurant and office tenants.
The project isn’t in trouble, according to developer ARK Group. “We are most interested in securing long term debt while interest rates are low,” CEO Noah Lazes told the News. The Music Factory is on schedule and construction is fully financed. “We are just exploring a long-term plan,” Lazes added.
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