SOUTHFIELD, MI-TCN Worldwide has again entered the Detroit market, partnering this time with locally-based Principal Associates. The Plano, TX-based real estate consortium had previously been affiliated in Detroit with Insite Commercial and L. Mason Capitani, the latter which is now a Corfac International partner. H. Ross Ford, president and CEO of TCN, said the city is an important target market for the company.

Principal, formed in 2008, is led by Peter Ventura, managing member and CEO, and David Plumley, managing member and CFO. Earlier this year, Principal took over and absorbed the local office of GVA Detroit.

The company typically handles mid-sized office and industrial properties, as well as property management, Plumley says. Joining TCM will extend the reach of the firm, while also providing tenant representation work, he says. Their clients include First Industrial Realty Trust, Pet Supplies Plus, DTE Energy and NYX Inc.

Plumley tells GlobeSt.com that Detroit, with a troubled reputation from the near collapse of the local auto industry, will come back if the right government is in place. “We need people who can lead us out, who can bring jobs to the state,” he says. Michigan is facing an election for a new governor, as incumbent Jennifer Granholm must step down due after completing her limit at two terms. The primary will be held Aug. 3.