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DALLAS-In a quietly orchestrated renewal and expansion, Brentwood, TN-based Ozburn-Hessey Logistics LLC has roped off 245,575 sf of the one-million-sf Pinnacle Park One. The five-year deal has added 98,000 sf of office/warehouse space to the operation.

Ozburn-Hessey re-upped a six-year-old lease and marked its second expansion at 3700 Pinnacle Point Dr., a Hillwood-developed structure that was sold in recent years to Kennedy Associates Real Estate Counsel Inc. of Seattle. In 2002, Ozburn-Hessey added 65,000 sf to its Pinnacle Park distribution center.

Ozburn-Hessey shares Pinnacle Park One with Houston-based Garden Ridge Corp., which occupies 616,875 sf. The 137,550-sf balance is being marketed. Hillwood keeps its rates under wraps, but distribution space ranges from $3.25 per sf to $3.35 per sf, triple net in Pinnacle Park and surrounding industrial parks, according to Grubb & Ellis Co.

Franetta Savage, property manager for Hillwood Investment Properties, oversees the building and negotiated the new deal. Doug McDowell with ProVenture, a Nashville-based subsidiary of Ozburn-Hessey, and CB Richard Ellis in Dallas handled the tenant’s side of the talks.

Ozburn-Hessey’s decision came within weeks of leasing another distribution center for an international station near the Dallas/Fort Worth International Airport. A spokeswoman for Ozburn-Hessey was unable to provide any details about the international station.

The combined deals push the third-party logistics’ provider’s leased portfolio to more than one million sf in Dallas/Fort Worth. According to Dallas Central Appraisal District, it also leases space at 740 E. Campbell Rd. and 4445 Rock Quarry Rd., both in Dallas.

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