Search
 

Garden Ridge Signs 592,000-SF Pinnacle Park Lease for Reported Distribution Consolidation

DALLAS-Hillwood Investment Properties has the first tenant for its first spec project at the 60-acre Pinnacle Park. The 592,000-sf lease reportedly spells a distribution center consolidation for Garden Ridge, a leading home decor retailer.

By Connie Gore | Updated on February 04, 2001

DALLAS-The “spec” is practically stripped from a 1,010,500-sf million warehouse project being constructed by Hillwood Investment Properties in Pinnacle Park. Garden Ridge has been inked to 592,000 sf, making it the development’s first tenant and the area’s largest lease signing in the past year.

San Antonio-based Garden Ridge reportedly has plans to consolidate two distribution centers with a July move-in to the warehouse situated off Interstate 30 in Dallas. Company officials have not returned telephone calls to confirm that a consolidation is in the works. The home decor retailer’s new distribution point will supply Tennessee and Oklahoma stores as well as those in Texas and will gear up with a 50-employee workforce. The Garden Ridge deal had closed in late December, but has been kept quiet until now.

Meanwhile, talks continue with other prospects for the balance of the project, one of three undertakings with a 50-50 ownership between Hillwood and its former joint venture partner, Panattoni Development Co. of San Francisco. The structure is tentatively set to deliver in May.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.