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, tellsGlobeSt.com 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.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
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.