Al Sorrels, who's spent the last five months winding down the partnership, will be Holt's man on the street in northeast Dallas. "As the year started to wind down, I realized this made a lot of sense for me," he tells GlobeSt.com. He will be one of three industrial principals, joining John Gorman and James Bryce.
Sorrels is starting the job with a leasing portfolio of two million sf that he hopes to enlarge to five million sf in the first year. The package includes the 10%-leased Miller Road Business Center, a 382,000-sf, four-building project that delivered in Q3 2003. Sorrels says his initial focus will be finding and signing tenants for the TA Associates-owned development, but he will be part of the chase for the build-to-suit deals looking to be made around town. He says "selective development opportunities" will be worked up for land that's already in the hands of Holt and its stable of institutional owners.
Sorrels spent 3.5 years as the Texas partner for the Sacramento, CA-based Panattoni, bringing out 1.8 million sf of build-to-suit and spec product at Pinnacle Park in Dallas. In taking the northeast Dallas territory, the 16-year industry veteran is returning to stomping grounds that he helped seed with product several years ago under the Trammell Crow Co. flag.
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