Glen W. Perkins, Kennedy-Wilson's former senior managing director, and Daniel B. Mahoney, former director of project services, are now PM Realty's senior vice president and vice president, respectively, in Dallas. The hard focus for the newly formed development and acquisition services group will be build-to-suits in Texas and anywhere else that the job takes them. The B-T-S market might have the attention, but it won't be the only direction that the team and its support staff will take as they scour for "other avenues for generating profit," Perkins emphasizes to GlobeSt.com.
The new group's pipeline includes outstanding proposals for a 250-acre industrial development and 150,000-sf office building. That's all that Perkins is saying for now about the DFW pipeline, but he believes two or three projects will be in hand before the year's out.
For now, Perkins and Mahoney are steering a 19-acre headquarters and distribution center project for Litex Industries, a ceiling fan distributor based in Grand Prairie. They started the 3100 Trinity Blvd. project in Atlanta-based Seefried Properties' Riverpark Business Center when they were with Kennedy-Wilson and negotiated to take it with them.
They are wearing several hats with the undertaking, including the hawking of Litex's existing facility at 2002 Avenue R in the Great Southwest Industrial Park and acting as project manager for the new center, which delivers Feb. 15. It's a start-to-finish scope that's also a primary component for the new division.
The Litex project came with some inherent challenges: deliver a B-T-S with a 25-year growth cycle. Perkins says Alliance Architects designed a building with 36-foot clear heights, a rise of six feet above the norm enabled by a K25 ESFR sprinkler system and the capability to add another 75,000 sf. Perkins is sure there's no other distribution center in the metroplex that stands as tall, a feature cornering maximum site use and cost efficiency. Hill & Wilkinson of Arlington is the general contractor.
Perkins is one of the DFW's more well-known professionals. He joined the Kennedy-Wilson team three years ago in a buyout of his R&B Commercial Real Estate Co. He also was a president and divisional partner for one of the Trammell Crow Cos. He comes with a built-in reputation for identifying niche opportunities, maximizing value, completing developments on time and on budget and managing the entire investment process, says Rick Kirk, PM Realty's president and Perkins' long-time friend.
Mahoney has 20 years' experience in planning, economic development and project management. Prior to Kennedy-Wilson, he was planning director in Richardson and executive director of the Irving Economic Development Foundation.
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