📈Morgan Stanley expanding; AA adding flights; TX Whiskey fires up new blend

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📣NEWS OF THE DAY:

According to a state filing, Morgan Stanley has signed a lease for an office in The Crescent Fort Worth. The 6,981-square-foot location is an additional office; the financial services company will continue to maintain a presence in the Wells Fargo Tower, according to Patrick Manion, Morgan Stanley’s D-FW market executive. A move-in date is forecast for Q2 2024.

Florida investor Basis Industrial has purchased two Fort Worth industrial properties for $81.2 million. The buyer paid $57.2 million for a 421,721-square-foot warehouse campus at 2301-2759 Ludelle Street, and $24 million for a 161,418-square-foot industrial complex at 2301-2367 Blue Smoke Court. The Newmark Group brokered the sale.

American Airlines has added 30 flights a day out of D-FW Airport for 2024, some new routes and some extra flights on routes to San Francisco, Texas and Mexico cities.

The Biden administration designated 31 Tech Hubs across the country with a committed spend of $500 million. Dallas/north Texas was one. The Economic Innovation Group breaks down what's next.

Neiman Marcus rejected a $3 billion takeover bid by Saks Fifth Avenue according to the Wall Street Journal. A downturn in the luxury goods market adds urgency to long-simmering deal talks, but the chains haven’t been able to agree on terms. (WSJ gift article)

Country roads, take me home: To improve roads for population growth, Fort Worth may have to annex the roads. How does that sit with residents?

Bottoms up: Local distiller TX Whiskey has released a limited batch of TX Straight Bourbon Whiskey Double Oak with flavors ‘'reminiscent of a Texas barbecue." It's the 7th in the company's experimental series.

According to the Dallas Fed's Retail Outlook Survey, Texas retail sales fell again in November, but at a slower pace than October. Retailers’ inventories increased, yet retail labor market indicators reflected a pickup in employment growth for full- and part-time workers. Retailers continued to perceive a worsening of broader business conditions in November, yet pessimism waned and outlook uncertainty numbers fell. 

Today in history: 1954 – The first Burger King is opened in Miami, Florida,

People on the move:

• Simmons Bank: Hires Robert Beardsley as Financial Center Manager III - Vice President

• Bank of Texas: Adds Bill Kresser as SVP, Private Wealth Banker

• EMJ Corporation: Promotes Brittni Schwarz to Project Engineer

• J.P. Morgan Private Bank: Hires Sarah Garrett as Senior Associate and Banker

Snippets:

• 25 popular brands that got their start in Texas.

• The 100 best albums of the year, according to Rolling Stone.

• The best 2023 ski resorts for every type of skier. (WSJ gift article)

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