The ongoing recession has taken a toll on Texas markets and the bottom remains in question. A company out of Memphis Tennessee just paid 31.25 million for the new Times Square development in McKinney. The construction cost was estimated at 52 million for approximately 300 luxury apartments and 88,000 square feet of retail space. Such property transactions aren’t uncommon in North Texas but some experts believe that time is running out for capitalizing on such deals.

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