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Peloton Partners Lay Out 511,000-SF Office Plan

DALLAS-The seasoned pros jump back into development, adding more muscle and an institutional investor for an estimated $100-million pipeline. Ground breaks in June.

By Connie Gore | Updated on January 29, 2008

DALLAS-Real estate veterans Joel Pustmueller and T.D. Briggs, founders of the six-year-old Peloton Real Estate Partners, are re-entering the development arena. The launch is being seeded by three class A office projects, totaling roughly 511,000 sf in separate locations.

The Peloton partners came from the Trammell Crow Co. ranks so they are as well versed in development as they are in leasing. Details are available for just one of the three projects–a 111,000-sf, three-story building and structured parking on 6.7 acres in Southlake. Pustmueller says the land is being bought off market from Gateway Church at 2121 E. Southlake Blvd., which will abut the office building. The site is a stone’s throw from Texas 114 and across the street from Southlake Town Center.

Pustmueller tells GlobeSt.com that the plan is to break ground in June on Southlake Center, jump-starting an 11-month construction schedule that will put delivery at mid-2009. If the partners’ plans for this year work out, ground will break on 250,000-sf and 150,000-sf office projects too. The triple play could translate to a $100-million development program, which is being backed by equity from an unidentified US institutional group.

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