X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DALLAS-With dirt flying in all directions along Interstate 30, PO’B Montgomery & Co. has reached the 80% preleased mark on an $11-million shopping center project that’s part of the construction frenzy. The 90,000-sf development is adding junior anchor-size boxes to the mix of industrial, office and competing retail space.

“I think there’s a pent-up demand in the southern sector of Dallas. The demand initially surprised us,” James Grisham with Dallas-based PO’B Montgomery & Co. tells GlobeSt.com. “And, we were able to capture that demand.” To date, his team’s locked in a 30,000-sf Best Buy, 31,000-sf Ross Dress for Less and 10,030-sf Dollar Tree.

Grisham says the 10-acre Pinnacle Park Shopping Center will build out all that he owns at the interstate’s Cockrell Hill Road interchange. The developer started prepping the land in March shortly after closing on the land so it’d be ready to go when the first leases were signed. Keys will turn in mid-November to Best Buy and first quarter 2006 to Ross and Dollar Tree, according to Grisham, who’s marketing the space for $18 per sf to $20 per sf.

“We hope to fully leased by the end of the year,” Grisham says. The project’s sweet spot, he explains, is 10,000 sf to 30,000 sf.

Amid the road construction and added industrial projects rising in Pinnacle Park, other developers have roped off the small shop space component while the large-format block got locked in early by Bentonville, AR-based Wal-Mart Stores Inc. and Lowe’s Cos. Inc. of Mooresville, SC.

PO’B Montgomery is teaming with locally based L&B Realty Advisors Inc., which represents a major domestic pension fund, to develop the center, designed by Hodges & Associates of Dallas. Hill & Wilkinson Ltd. in Plano is the general contractor; Brockette, Davis & Drake Inc. of Dallas is the civil engineer.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.