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Texas Industries, Inc., And CBRE Group, Inc., Announces Completed Land Sale To Applied Natural Gas Fuels, Inc., At RailPort

Stocks in this article: TXI

DALLAS, March 18, 2014 (GLOBE NEWSWIRE) -- Dallas-based Texas Industries, Inc. (NYSE:TXI) and CBRE's Industrial Brokerage Services Group (NYSE:CBG) announced today the completed sale of 31 acres of land in TXI's RailPort Business Park in Midlothian, Texas, to Applied Natural Gas Fuels, Inc. (ANGF), the second largest producer and marketer of Liquefied Natural Gas (LNG) in the United States.

ANGF is based in Westlake Village, California, and has announced plans to build a multi-liquefier LNG production platform in Midlothian that will consist of up to five liquefiers with a production capacity of 86,000 LNG gallons per day per liquefier. Upon commissioning of all five liquefiers at the Midlothian Plant, ANGF's total production capacity will reach over 600,000 LNG gallons per day.

"ANGF's investment in Midlothian further validates RailPort and Ellis County as an ideal place to do business," said TXI Vice President of Real Estate, Barry Bone.

RailPort, located midway between Dallas and Fort Worth on U.S. 67 just south of U.S. 287, is a 1,700-acre business and industrial park that is serviced by both the Burlington Northern Santa Fe and Union Pacific railroads, affording companies located in the park the opportunity to obtain competitive freight rates.

"The rail and highway infrastructure, the ease of access to the Dallas/Fort Worth area, the availability of qualified labor, and the support for industry demonstrated by community leaders are all factors that continue to attract companies of this caliber and quality to the area," said Dave Anderson, Executive Vice President of CBRE Industrial Brokerage Services Group.

Completing the most comprehensive economic development package in the area, RailPort also offers the Freeport Tax Exemption, which gives taxing jurisdictions (city and school district) the authority to exempt taxes on goods that have been acquired in, or imported into, Texas to be forwarded out of the state within 175 days.

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