Prime Income Asset Managements Mercer Crossing Development Builds toward Bright Future

DALLAS--(BUSINESS WIRE)--Mercer Crossing, a 1,200-acre master-planned development, is owned and being developed by Transcontinental Realty Advisors Inc (TCI), American Realty Investors Inc (ARL), and Income Opportunity Realty Investors Inc (IOT), which are all managed by Dallas-based Prime Income Asset Management (Prime). The development is currently home to 3 million square feet of office space consisting of 10 class A buildings which include One Hickory Centre, Two Hickory Centre, Four Hickory Centre, Fenton Centre I and II, and Browning Place. The development also includes Laguna Vista Apartments and the luxurious mid-rise Portofino at Mercer Crossing. Located in the geographic heart of the Dallas/Fort Worth Metroplex, Mercer Crossing is building toward a bright future with amenity improvements, and lease/remodel programs.

Prime affiliate Regis Property Management is in the planning stages of a state-of-the-art fitness facility in Fenton Centre. When complete, the facility will be approximately 6,000 square feet with aerobic and strength-training equipment, as well as locker room amenities, and will accommodate 1.2 million square feet of tenants including both Fenton Centre and Browning Place. An onsite conference and training center is also underway and will be open to all tenants. “These facilities will add to the existing amenity package offered to tenants and their employees at the buildings, and enable them to lead a healthier, more productive lifestyle right at their place of employment,” said Karl Blaha, president of Regis Property Management, LLC. Further improvements to the commercial office buildings at Mercer Crossing include a deli in Four Hickory Centre and a remodel program at Browning Place. According to Scott Porter, senior vice president of leasing at Regis Property Management, LLC, “As suites and floors are leased to new Browning Place tenants we are upgrading the lobby, common areas and restrooms. Floors 1 and 7 are already complete and have greatly enhanced the marketing effort in these buildings.”

Prime and the city of Farmers Branch are excited about the continued progress of the development and the opportunities and economic growth it will create for the area and its residents. “The City of Farmers Branch has worked hand-in-hand with Prime Income Asset Management to position Mercer Crossing to be the premier urban development in the Metroplex. We are excited about the future of Mercer Crossing and look forward to the growth ahead,” said Tim O’Hare Mayor, City of Farmers Branch. Just outside the perimeter of Mercer Crossing, businesses including Jack in the Box, Donuts, Quiznos, BB Bop, and RaceTrac, have opened to cater to the growing business and residential tenants in the area.

Prime Income Asset Management, LLC (www.primeasset.com) is a Dallas-based real estate management and energy sector advisor, which develops and manages in excess of $3.5 billion in value of commercial real estate and energy related assets for various public and private entities. Prime also provides direct or sub-advisory services to both domestic and international entities engaged in real estate, gas, oil, electricity and communication operations. Entities advised or assisted by Prime include American Realty Investors, Inc. (NYSE:ARL); Transcontinental Realty Investors, Inc. (NYSE:TCI); and Income Opportunity Realty Investors, Inc. (AMEX:IOT). From time to time, Prime consults with Gene Phillips (www.genephillips.org) who serves in a senior advisory capacity with Prime.

Prime Income Asset Management
Chris Childress, 469-522-4275
press@primeasset.com