JV Partners Detail 87-Acre, Mixed-Use Plan

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DALLAS-Principal Financial Group and Holt Lunsford Commercial have started dirt work on the new gateway retail component of a 300-acre industrial park in southwest Dallas. The 87-acre gateway fronting Interstate 30 calls for 650,000 sf of new light-industrial product on its rear tracts.

The behind-the-scenes plan for the past five years has been to level the playing field so the five-million-sf Turnpike Distribution Center, of which Principal owns 2.8 million sf, could stay competitive with its neighbor Pinnacle Park, developed in the mid-1990s with direct interstate access. “We were a very easy feeding ground for tenants to move out of Turnpike to Pinnacle Park,” John Gorman with Dallas-based Holt Lunsford tells GlobeSt.com. “We are no longer a feeding ground.”