Big retailers move in as West Texas population explodes

WEST TEXAS – Big retailers are moving into the oil boomtowns of West Texas, a clear indication that demand for prime real estate is on the rise.

Historic oil production is keeping residents and capital gushing into region, and now major retail chains are discovering what Taylor Consulting Inc. (TAYO) already knows: West Texas is good for business.

Through its real estate division, Third Avenue Development, TAYO has acquired two prime properties in the town of Merkel: a standard one-acre lot and a self-storage facility.

During summer 2014 the Merkel City Council approved a zoning change, clearing the way for a Walmart Express store. Merkel is a small town but it is near Abilene, the region’s largest economic center.

With the West Texas oil boom showing few signs of slowing down, Walmart clearly sees that the perfect time to invest in the region is now. The retail giant will open seven new stores around the area within the next two years.

“Walmart is moving into this small town for the same reason that we are,” said Scott Wheeler, CEO of TAYO.

“It’s because the economic potential of this town is bursting at the seams. West Texas is now at the heart of the nation’s hottest industry, and small towns like Merkel are growing and changing very rapidly," Wheeler said.