Dallas, TX--Air Vent, Inc. and Panattoni Development Company, LLC have recently negotiated a lease for 175,000 SF within Pinnacle Park West Building II in Dallas, Texas. The 550,000 square foot facility is located at 4117 Pinnacle Point Drive and is slated for completion in February 2006. The 175,000 square foot lease represents 32% of Building II leaving 375,000 SF available for lease.
Air Vent, Incorporated, a subsidiary of Gibraltar Industries, is a national manufacturer/distributor of air vents across the country and the building will be their regional distribution center. Relocating from their previous Lone Star Park facility, Air Vent will benefit from a 90% tax abatement from the City of Dallas and a Triple Freeport exemption.
Chris Mason and Jim Cooksey of Jackson Cooksey represented the tenant. Peter Billipp of Panattoni negotiated on behalf of Panattoni Development. T Howard & Associates is the architect. Panattoni Construction, Inc. is the general contractor for the building and the tenant improvements.
Pinnacle Park West is a 2-building master planned development in excess of 1 million square feet located within Pinnacle Park, an 880 acre, master planned business park. Panattoni Development successfully completed Building I last year with FedEx SmartPost and Neiman Marcus as the tenants.
Panattoni Development Company (PDC) is a privately held, full service development company founded in 1986 by Carl Panattoni. During the last 5 years the firm has averaged nearly 10 million square feet of development annually, one of the most active records in the United States. PDC has developed and managed industrial, office and retail facilities in more than 100 markets. The firm is headquartered in Sacramento, California, and maintains over 22 offices throughout the United States, Canada and Europe. For more information about Panattoni Development Company, visit the company website at www.panattoni.com.
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