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DALLAS-Neiman Marcus will expand its Direct Chefs Catalog Division by about 100,000 sf when it exchanges space in another Pinnacle Park development for 202,500 sf of leased space at Pinnacle Park West I.

“It will basically double their size,” Jon C. Napper, the Texas partner for Sacramento-based Panattoni Development Co., tells of Neiman’s move into the 800-acre speculative industrial development. Terms of the lease were unavailable, but Napper says space in the two-building project generally rents for $2.75 per sf to $3.25 per sf.

Panattoni’s 470,250-sf Pinnacle Park West I is supported by a 10-year, 90% tax abatement from the City of Dallas and Triple Freeport inventory exemptions, making it appealing to businesses seeking inner-city distribution points, Napper explains. The 43%-leased property features a 30-foot clear height and 113 cross-dock doors along with 295 parking spaces and trailer parking. Napper negotiated the deal for Panattoni while independent broker Paul McCrea handled the transaction for the tenant.

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