As it reached its 20th anniversary on Dec. 14, AllianceTexas has had a $36.4 billion economic impact on North Texas. The 229 companies that now call the development home have built 31.2 million sq ft and created 28,000 jobs. Since the development began, the companies and residents of the AllianceTexas also have paid more than $730 million in property taxes, including more than $105 million in 2008.
Fort Worth Alliance Airport opened on Dec. 14, 1989 as the world’s first industrial airport and the centerpiece of an Alliance development that initially was designed to attract air cargo and aerospace manufacturing facilities. The subsequent addition of the BNSF Intermodal Facility on the west side, along with the existing Union Pacific mainline to rail serve buildings on the east side of the development, as well as the FedEx Sorting Hub, created an inland port intermodal logistics hub that is now the prototype for similar projects across the country.
As the project continued to grow and become more diversified with the addition of office, residential, entertainment and retail, Hillwood rebranded the development as AllianceTexas, which now includes several developments, residential communities and a town center.
MEDIA ADVISORY
WHAT: Groundbreaking on one of the last phases of Twin Creeks, one of the largest and most successful master-planned communities in North Texas.
Hillwood Residential will break ground on 40 lots at the Twin Creeks community in Allen, Texas. Hillwood began developing the remaining portion of the 2,400-acre community in 2004. Twin Creeks is now home to more than 2,400 families.
Twin Creeks and the city of Allen have grown together since 1993, when development began. Twin Creeks is the largest residential community in the city. Over the past nearly two decades, Allen’s population has almost quadrupled from 22,728 in 1993 to more than 83,000 today. The number of people working in the city also has grown, from 4,200 in 1993 to 39,423 today. Approximately 25% of new closings in the area over the past 10 years have taken place at Twin Creeks.
Due to continued job growth in Allen and the quality of life in the city and in Twin Creeks, it is one of the few areas of North Texas that has a tight supply of single-family lots. While many sub-markets of North Texas have lots supplies of more than 100 months, Allen is one of only two DFW sub-markets approaching equilibrium (24 months) with a 29.4 month supply. In part due to the federal homebuyer tax credits, that supply is expected to drop in the next few months.
Despite the recent slump in residential real estate, there have been 450 housing starts in Allen over the past 12 months. The city of Allen added 500 jobs in 2009, and with the new Cisco Systems Data Center and the recent expansion by Experian, another 400 new jobs have already been created in 2010.
WHO: Ross Perot Jr., Chairman, Hillwood
Fred Balda, President, Hillwood Residential
Charles Nies, Vice President, Dal Briar
WHERE: The groundbreaking will be held at the corner of Shallowater Dr. and Walnut Springs. From 75 go west on W. McDermott Dr. to Twin Creeks Dr. Go right on Twin Creeks Drive to W. Exchange Pkwy. Go left on W. Exchange Pkwy to Lexington Ave. Go left on Lexington Ave. to San Jacinto Dr. Go right on San Jacinto Drive to Walnut Springs Dr. Go left on Walnut Springs Dr. Shallowater Dr. is the next street.
WHEN: Wednesday, March 10 10:00 a.m., lunch will be provided after program
Contact: Dave Pelletier, Hillwood
817-224-6044(office)
817-366-9933 (cell)
dave.pelletier@hillwood.com
FOR IMMEDIATE RELEASE Contact: Lisa Albert
Director of Communications
817-257-5063
l.albert@tcu.edu
FORMER MAYOR BOB BOLEN HONORED WITH ENDOWED SCHOLARSHIP
FORT WORTH, Texas (March 9, 2010) – Former Fort Worth Mayor Bob Bolen has been honored with the establishment of an endowed scholarship in his name, made possible by a gift from The Sarah & Ross Perot Jr. Foundation. The scholarship will be awarded based on the leadership and community service that Mayor Bolen has embodied throughout his life. Preference will be given to applicants who are or have been in the military.
The $2.5 million commitment for the Bob Bolen Leadership Scholars program is rooted in shared beliefs by both donor and honoree. The Perots and Mayor Bolen believe that higher education must be affordable and accessible. They agree that scholarship support is one of the most important investments one can make in the lives of young people. They also believe it is critical to develop young leaders to think and act ethically as responsible citizens in the global community.
“ Mayor Bolen lived by the philosophy that was passed down to him by his father of ‘Always leave a place better than you found it.’ This scholarship program will reward students who already have made the commitment to serve their community and their country, and who encourage others to do the same,” said Ross Perot Jr.
“We are especially grateful for this commitment,” said Chancellor Victor Boschini. “Sarah and Ross Perot Jr. honor Bob Bolen and the TCU community with their wonderful gift. We are thrilled that their generosity will enable generations of student leaders to benefit from the TCU experience. And there could not be a more fitting tribute to Mayor Bolen.”
Scholarships enhance the University’s ability to attract the most talented and deserving students. For this reason, scholarships are the highest priority of the University and The Campaign for TCU – a $250 million comprehensive fund-raising effort. The Perots’ commitment directly supports the campaign and a $100 million Scholarship Initiative. More importantly their support will benefit current and future generations of TCU students.
Recipients of the Bob Bolen Leadership Scholarship will be chosen by a special selection committee. They will exemplify the mission of TCU by thinking and acting as ethical leaders and responsible citizens in the global community. Priority will be given to students who have served in the military or who are currently involved in ROTC or other military programs.
Robert (Bob) Bolen served as Mayor of Fort Worth from 1982-1991. He joined the TCU staff as Senior Advisor to the Chancellor in 1991 and serves as a Visiting Lecturer and Advisor to the Dean of the M.J. Neeley School of Business. He received the TCU Royal Purple Award in 1992 and the Distinguished Alumnus Award from Texas A&M. Mayor Bolen holds honorary doctorates from TCU, the University of North Texas and Texas Wesleyan University. He was the founder and CEO of Bolen Enterprises before serving as mayor.
His tenure as mayor was noted for his leadership and ability to collaborate with corporate executives and public officials on transformative projects. His leadership contributed significantly to the establishment of Dallas/Fort Worth International Airport. He also was the city’s driving force behind the creation of Fort Worth Alliance Airport and the 17,000-acre AllianceTexas development that surrounds it. That project has received national recognition as a model for public-private partnership.
Mayor Bolen continues his lifelong devotion to education and to providing opportunities for young people. He is passionate about helping people and has been a mentor to generations of business executives, public officials, friends and students.
Mayor Bolen and his wife Fran have established scholarship funds at TCU and other institutions. They funded The Beatrice Bolen Piano Scholarship in 2002 in memory of his mother. The scholarship benefits piano performance majors.
In addition, the R.E. “Bob” Bolen Scholarship was established in 1991 by the generosity of community leaders and friends to honor Mr. Bolen for his nine-and-one-half year term as mayor of the Fort Worth. Mayor Bolen is involved in selecting recipients each year and 19 undergraduate and graduate business students have received this scholarship to date.
The Perots have been leaders in the business community and supporters of charitable and civic organizations in Fort Worth for many years.
Ross Perot Jr. founded Hillwood, which is now one of the country’s top real estate development and investment companies, in Fort Worth in 1988. Together with its public partners, Hillwood created one of the country’s greatest economic development projects. In its two decades of existence, AllianceTexas has had an economic impact of more than $36 billion on Fort Worth and the surrounding communities.
Education has always been a big part of the Perots’ community involvement in Fort Worth. They helped establish and support education foundations for the local school districts and donated two school sites, one of which was named Bette Perot Elementary School for Ross Perot Jr.’s aunt, who was a teacher and principal in the Fort Worth school district.
For more information on the scholarship, contact Don Whelan at (817)257-7785 or visit www.scholarship.tcu.edu.
END
Vacuum cleaner maker Royal Appliance Manufacturing is relocating its Ontario distribution operations to a larger facility in San Bernardino.
Its new landlord says the move reflects a trend of growing companies seeking out more favorable business terms in a buyer's market for industrial space.
Royal will begin operations in early May in a newly constructed building purchased in December by Hillwood Investment Properties. According to statements from Hillwood and CB Richard Ellis, Royal has signed a five-year lease for a 415,000-square-foot space at Hillwood's Alliance California industrial development, built on land that once housed Norton Air Force Base.
Officials of Ohio-based Royal, whose brands include Hoover and Dirt Devil, could not immediately be reached for comment. Financial terms were not disclosed for the deal that will bring Royal to the space at 925 Ninth St.
John Magness, a Hillwood senior vice president, said by phone the new location will give Royal about 65,000 more square feet than it had in Ontario, and it will be paying less for rent, taxes and other overhead. The building is also located in a state-sponsored county enterprise zone that gives tax credits for future job creation.
Magness said the current economy has prompted many companies to shop around for space before renewing leases, and Hillwood has received more inquiries about its properties this quarter "than the past three quarters combined."
In December, Hillwood also purchased another building in the same vicinity, with more than 600,000 square feet of space. At the time, Magness said that because Hillwood got a favorable price for the buildings, it is able to offer lower rents to potential tenants.
Hillwood is a division of Dallas-based Perot Companies. It is the primary commercial developer of land on the outskirts of what is now known as San Bernardino International Airport.
SAN BERNARDINO, CA-Royal Appliance Manufacturing Co. is expanding its operations by more than 65,000 square feet and relocating to an industrial building owned by Hillwood Investment Properties in a five-year lease for a 415,825-square-foot building at 925 E. Ninth St. The deal marks one of the largest new leases in the Inland Empire so far this year, according to brokers from CB Richard Ellis who represented Hillwood.
Royal Appliance plans to relocate to the new building upon completion of tenant improvements at the beginning of May. Hillwood acquired the building last year from Blackrock in a transaction brokered by the same CBRE team that represented Hillwood in the Royal Appliance lease: Frank Geraci, Walt Chenoweth, Juan Gutierrez and Patrick Wood of CBRE's Ontario office.
Chenoweth says the new lease produces positive cash flow for Hillwood soon after an acquisition in a slow market. Royal Appliance, which now occupies a 349,000-square-foot facility in the West Inland Empire, manufactures brands including Hoover and Dirt Devil vacuum cleaners.
Royal Appliance was represented by Jeff Smith and Jeff Huberman of Lee & Associates. The five-year lease is valued at more than $5 million.
In December, Hillwood Development also acquired a sister building at the same location. CBRE is also the leasing agent for that building, which is a 609,000-square-foot warehouse at 7776 E. Tippecanoe Ave.
Both buildings are located in the San Bernardino Enterprise Zone at Hillwood's AllianceCalifornia project at the former Norton Air Force Base. According to John Magness, president of Hillwood’s operations in California, the AllianceCalifornia redevelopment project now totals more than 8.6 million square feet.
The Alliance Global Logistics Hub for the third consecutive year was named the nation's top foreign trade zone by the U.S. Foreign-Trade Zone Board.
About $5.4 billion worth of foreign-made products passed through the local, general-purpose zone last year, according to the board's annual report to Congress. That surpasses the $4 billion admitted through the second-place Port Authority of New York and New Jersey.
"You have an airport and two rail lines and a highway [Interstate 35W], which is huge in distribution circles," said David Pelletier, a spokesman with Hillwood, the developer behind the 17,000-acre AllianceTexas development.
The foreign trade zone helps lure companies to AllianceTexas, Pelletier said. The designation allows companies to import products before U.S. customs inspections are made and pay no duty until the products leave the foreign-trade zone.
"It's just one more cost-savings measure that helps you attract companies into the development," Pelletier said.
Hillwood officials expect the value of products passing through the zone to grow as ATC Logistics & Electronics continues to operate after setting up shop in 2009. The company provides repair and assembly services for GPS and cell phone manufacturers and providers.
Other companies with operations at the foreign trade zone include Motorola, Lego and Hyundai.
Since opening Fort Worth Alliance Airport -- considered the centerpiece of AllianceTexas -- Hillwood has watched companies flock to the development. Proximity to the world's first industrial airport, which opened in 1989, not to mention major freeways and rail lines, has made AllianceTexas a major player not only for attracting corporate tenants, but for enriching the local economy.
No fewer than 15 of the Northwest school district's top 20 taxpayers are within AllianceTexas. For the current budget year, Citicorp Technology stood as the top AllianceTexas taxpayer, providing the school district $157,571,000 in taxable assessed valuation. But the district's top taxpayer overall is Devon Energy Production Co. , which provided $1,172,741,570 during the same period. Devon has no operations at AllianceTexas.
Other AllianceTexas companies on the list span several industries, with Cardinal Health 411 representing health care; Bell Helicopter Textron, Peregrine Point and AT&T Mobility representing commercial and industrial; and Cabela's Retail TX representing retail.
Of the $3,820,463 in commercial property listed on the school district's 2009-2010 taxable property breakdown, the lion's share of the property value is within AllianceTexas.
"Out of the $3.8 billion, quite a bit would be Alliance," said Jon Graswich, the district's chief financial officer.
Cousin’s Bar-B-Q is planning to open a 4k SF location at Heritage Marketplace at Alliance Town Center in north Fort Worth after the building is completed in the fall. It will be the company’s seventh location. Located at the southwest corner of Heritage Trace Parkway and Riverside Drive, Heritage Marketplace is also home to the new 123k SF Kroger Marketplace, which will open in the 4Q10. Also scheduled to open this year at Alliance Town Center are Rooms To Go, BJ’s Restaurant and Brewhouse, and Olive Garden.
Cousin’s Bar-B-Q leased a 4,200-square-foot building from Hillwood at Heritage Marketplace at Alliance Town Center in north Fort Worth. The new Cousin’s location is expected to open after the building is completed in fall 2010 and will serve as the company’s seventh location.
Located at the southwest corner of Heritage Trace Parkway and Riverside Drive, Heritage Marketplace at Alliance Town Center also is home to the new 123,000-square-foot Kroger Marketplace, which will open in the fourth quarter of 2010.
Also scheduled to open this year at Alliance Town Center are Rooms To Go, BJ’s Restaurant and Brewhouse, and Olive Garden.
Cory McCord served as broker for Cousin’s Bar-B-Q in the transaction.
Cousin's Bar-B-Q catered the Dec. 14, 1989, opening celebration of Fort Worth's Alliance Airport, and this fall it will become a permanent tenant.
Cousin's has leased a 4,200-square-foot building at Alliance Town Center, off Interstate 35W in far north Fort Worth. The building is under construction at the southwest corner of Heritage Trace Parkway and Riverside Drive and should be completed this fall.
Click here to read the full article.
FT. WORTH-According to the recently released Annual Report of the Foreign-Trade Zones Board to the US Congress, the Board issued 47 formal orders during the 2008 fiscal year. The decisions included approvals for one new general-purpose zone and 20 new subzones.
Authority was also granted for the expansion of 10 existing general-purpose zones. Other actions included six expansions of the scope of manufacturing activity, as well as six approvals for new manufacturing activity in zones.
There were 164 FTZ projects fully active during the year, with subzones in operation in more than 100 of them. The number of facilities using subzone status during the year was 254.
The combined value of shipments into general-purpose zones and subzones totaled over $692 billion, compared with $502 billion the previous year. General-purpose sites received nearly $75 billion in merchandise, while total shipments received at subzone sites amounted to over $617 billion. Some 89% of zone activity took place at subzone facilities, which is consistent with the pattern of the past 15 years. Exports to foreign countries from facilities operating under FTZ procedures totaled over $40 billion.
Nearly 330,000 people were employed at some 2,500 firms that operated under FTZ procedures during the year. Industries that continued to account for most zone manufacturing activity included the oil refining, automotive, pharmaceutical and electronic product sectors. About 57% of the shipments received at zones involved domestic status merchandise.
For the third consecutive year, Alliance Foreign-Trade Zone #196 in Fort Worth, TX ranked as the top general purpose Foreign-Trade Zone in the US in terms of the value of foreign goods admitted, which accounted for $5.357 billion.
Located at the inland port-known as Alliance Global Logistics Hub-FTZ #196 should continue to grow with the 2009 addition of ATC Logistics & Electronics, which is leasing close to one million square feet and employing 2,600 workers at its Alliance facilities.
The port is part of Hillwood-developed AllianceTexas, a 17,000-acre master-planned, mixed-use community that includes Alliance Town Center, the Monterra Village apartment home community, the corporate campuses of Circle T Ranch, the Vaquero estate golf community and the Heritage and Saratoga residential communities. AllianceTexas now houses 7,200 single-family homes and 229 companies that occupy 31.2 million square feet.
In large part due to its role in handling imports, AllianceTexas has had an economic impact of $36.4 billion on the North Texas economy. In addition, the development has attracted $6.8 billion in private investment, generated more than $730 million in property taxes and created 28,000 fulltime jobs. Theres even a 9,400-acre international transportation complex, dubbed Alliance Airport.
We anticipate that the use of the Alliance Foreign-Trade Zone will allow us to realize significant cost savings for our customers, says Antony Francis, president of ATCLE. As we grow and gain a better understanding of how effective it can be, we expect to expand our use of the Foreign-Trade Zone in order to provide the best cost structure to our customers.
In addition to ATC Logistics & Electronics, major users of Foreign-Trade Zone #196 at the Alliance Global Logistics Hub include Hyundai, Trans-Trade, LEGO and Motorola.
Restaurant Returns Two Decades After Catering Opening Event Of
Fort Worth Alliance Airport
FORT WORTH, Texas (Feb. 3, 2010) – AllianceTexas recently reached its 20th anniversary. Now one of the companies that was part of the airport’s opening celebration two decades ago will open a permanent location in the development. Cousin’s Bar-B-Q, which catered the original airport lunch on Dec. 14, 1989, has leased a 4,200 square-foot building from Hillwood at Heritage Marketplace at Alliance Town Center in north Fort Worth.
The new Cousin’s Bar-B-Q is expected to open after the building is completed in the Fall 2010. It will be the company’s seventh location.
“Cousin’s Bar-B-Q was at the Alliance opening 20 years ago, when there wasn’t anything there except the airport,” said Jeff Payne, CEO of Cousin’s Bar-B-Q. “Now there are 28,000 employees in the development and thousands of new homes in the area. After searching throughout North Texas, Cory McCord, our real estate broker, determined that this is a great location for many reasons, including the great business environment that Hillwood has created there even during tough economic times. Retailers at Alliance Town Center have done extremely well, while retailers in other places have struggled.”
Since 1983 Cousin’s has been serving up Texas-style Bar-B-Q with all the “fixins” for thousands of customers and several dignitaries, including President H.W. Bush and Mikhail Gorbachev. Last May, Cousin’s Bar-B-Q was named one of four finalists in the ABC Good Morning America “Best Barbecue Challenge.” The restaurant also was named one of the top 50 Bar-B-Q Joints in the state by Texas Monthly magazine in 2008.
Located at the southwest corner of Heritage Trace Parkway and Riverside Drive, Heritage Marketplace at Alliance Town Center is also home to the new 123,000 square-foot Kroger Marketplace, which will open in the fourth quarter of 2010.
A joint development of Trademark and Hillwood, Alliance Town Center is located along the east side of Interstate 35W between North Tarrant Parkway and Heritage Trace Parkway. The 300-acre development is in the middle of one of the fastest growing areas in the nation over the past decade. Many restaurants and stores already have reached sales levels that are among the best for their respective companies.
More than 20 retailers occupy more than 600,000 square feet at Alliance Town Center. In addition to Cousin’s Bar-B-Q and the Kroger Marketplace, retailers include Bank of Texas, Belk, Best Buy, Cheddar’s, Dress Barn, Eye Masters, Freebirds World Burrito, Hobby Lobby, Jason’s Deli, JCPenney, Justice, Kincaid’s, Kirkland’s, Mattress Firm, McDonald’s, PetSmart, Rack Room, Rue 21, Sam Moon, Smoothie King, Sports Clips, Ulta, Wells Fargo, and Which Wich.
Alliance Town Center is part of the 17,000-acre AllianceTexas development that also includes the Alliance Global Logistics Hub, the corporate campuses and golf courses of Circle T Ranch, the Monterra Village apartment home community, and the single-family communities of Heritage, Saratoga and Vaquero. AllianceTexas houses more than 7,200 single-family homes and 229 companies that have built more than 31 million square feet and created 28,000 jobs.
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The manufacturing sector kicked off the year with a strong surge in January, The Institute for Supply Management showed on Feb. 1. It is the sixth consecutive month of expansion in the sector leading the economic recovery.
The Institute for Supply Management said its manufacturing index, also known as the purchasing managers index, climbed to 58.4% in January from December from 54.9% in December.
It was the highest PMI reading since August 2004, when the index registered 58.5%.
The reading was much stronger than the 55.5% expected by most analysts. Any number above 50% indicates growth.
"This month's report provides significant assurance that the manufacturing sector is in recovery," said Norbert Ore, head of the ISM survey committee. Ore pointed out that both the new orders and production sub-indexes were above 60%, "indicating strong current and future performance for manufacturing."
Daniel J. Meckstroth, Chief Economist for the Manufacturers Alliance/MAPI points out that "ll the component indicators were moving in a positive direction in January, including the index for production which was exceptionally strong. There is a major inventory swing underway in the manufacturing sector that explains why industrial activity is so strong.
"Firms were previously in a panic mode and drastically slashed their inventories by reducing production, but now they find themselves low on materials and components," he added. "Once orders started rising again there is an acceleration in production to catch up with underlying demand. U.S. manufacturing physical production was up 4.5% in December from its trough in June 2009. Furthermore, a global recovery in world industrial activity has helped U.S. exports and supplemented domestic demand. The overall tenor of the ISM report is very positive and a good way to start 2010."
FORT WORTH (Hillwood) – For the third consecutive year, Alliance Foreign-Trade Zone #196 ranks as the top General Purpose Foreign-Trade Zone in the United States in terms of the value of foreign goods admitted.
In the recently released Annual Report of the Foreign-Trade Zone Board to the U.S. Congress, Alliance Foreign-Trade Zone #196 admitted nearly $5.4 billion in foreign products.
Use of Foreign-Trade Zone #196 at the Alliance Global Logistics Hub should continue to grow with the activation by ATC Logistics & Electronics in 2009. ATC Logistics & Electronics handles assembly, repairs and logistics for GPS and cell phone manufacturers and providers. The company leases close to one million sf and employs 2,600 workers at its Alliance facilities.
Other major users of Foreign-Trade Zone #196 at the Alliance Global Logistics Hub include Hyundai, Trans-Trade, LEGO, and Motorola.
For the third consecutive year, Alliance Foreign-Trade Zone #196 ranks as the nation's top General Purpose FTZ in the value of foreign goods admitted ($5.4 billion). Harris County ranked third nationally with $4 billion; Dallas 15th with $679 million; and DFW Airport 23rd with $379 million. FTZs are secure areas under the supervision of US Customs and Border Protection and are considered outside the US customs territory for duty payment until imports enter domestic consumption; then the importer may choose paying duties on the original foreign materials or the finished product. There’s a high school algebra question in there somewhere.
ATC Logistics & Electronics prez Antony Francis says using the FTZ will allow significant cost savings for customers. ATCLE opened in 2009, leasing 1M SF. The firm assembles, repairs, and provides logistics for GPS and cell phone manufacturers and providers. Besides ATC, major users of FTZ #196 at the Alliance Global Logistics Hub include Hyundai, Trans-Trade, LEGO, and Motorola.
CNBC Video: Ross Perot Jr. on Tech, Oil & Real Estate
Ross Perot Jr., Hillwood Development Co. chairman, discusses technology, oil prices and commercial real estate with CNBC's Becky Quick.