The local firm recently was acquired by an investment capitalgroup from Fort Worth that has a penchant for underwritingvalue-add companies. "That's what facilitated the move for them,"John Gorman, principal of Holt Lunsford Commercial in Dallas, about the new tenant for Turnpike 22 at 4030 La ReunionBlvd.


Gorman says the stair-stepped lease for the single-tenantbuilding was four months in the making. The quoted rate was $3.50per sf. "We did a good economic deal," he says, adding "there's alittle room for growth" due to future bumps.


The Finial Co., a curtain rod maker, will use Turnpike 22 forlight manufacturing and distribution. Gorman says the structure's6,000-sf office is being upgraded while a 1,000-sf office is beingconverted into a break room. Robert Droke, an independent brokerfrom Dallas, represented the inbound tenant, who is moving from8939 Directors Row.


At Turnpike 19, New Thermo-Serv Ltd. of Weatherford, TX reneweda 183,047-sf lease in a direct deal for its long-time build-to-suitat 3901 Pipestone Rd. "They made a new commitment to the park andthe building," he says, citing the owner's renovation of allbuilding exteriors and additional dressing up of the park as addedincentive to stay in place. He says Des Moines-based Principal.Real Estate Investors' 2.8-million-sf stake in TurnpikeDistribution Park is 88% filled, thanks to the new deal andrenewal.

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