DALLAS-The Dallas Morning News reports that Allen Group, developer of the 6,000-acre Dallas Logistics Hub in southern Dallas County, has filed Chapter 11 bankruptcy protection in an attempt to reorganize the project’s $178 million worth of debt. The filing does not impact the Allen Group itself, or the company’s other projects in California and Kansas.

The Morning News article notes the filing was made by DLH Master Land Holding LLC and Allen Capital Partners LLC, both led by the Allen Group, which is headquartered in Dallas. Richard Allen, founder and CEO of the company, was quoted by the article saying that creditors have been cooperative, and he’s working with them to extend the debt maturities of the project, located at the intersection of Interstates 20 and 45, approximately 12 miles due south of downtown Dallas. Creditors involved include: TierOne Bank, BBVA Compass and American Bank of Texas.

Allen unveiled plans for the Dallas Logistics Hub in 2006, following 2.5 years of frenzied land-buying in South Dallas. Construction on the massive project began in 2007, launched by infrastructure development and a speculative industrial building. Allen Group relocated its headquarters from San Diego to downtown Dallas in early 2009, to better keep track of the development.

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