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D/FW Airport Team Debuts $250M-Plus MXD Project

DALLAS- The 850,000-sf Southgate Plaza will be a major step in the transition to an airport city. A 32-acre ground lease is about to cross the goal line to allow a start by Q1 2009.

By Connie Gore | Updated on April 11, 2008

DALLAS-A $250-million-plus mixed-use project will break ground by first quarter 2009, with all components planned to rise simultaneously on a 32-acre, ground-leased parcel at Dallas/Fort Worth International Airport. The long-awaited Southgate Plaza is the next development move to establish a world-class airport city.

With a signed letter of intent in hand, the airport board and Southfield, MI-based Redico Development Co. are close to finalizing the ground-lease contract for the site after nearly one year of talks, according to John C. Terrell, the airport’s vice president of commercial development. This morning, Terrell is unveiling the development, which could cost as much as $350 million, at the Aiport Cities Conference and Exhibition 2008. The development site is at the intersection of Rental Car Drive and International Parkway, making the 850,000-sf Southgate Plaza accessible to general consumers as well as airport users without forcing them through the toll gates.

“This is the only property we’re discussing with developers of mixed use at this point,” Terrell tells GlobeSt.com. “And, this is a major step in our airport city process.”

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