FORT WORTH, Texas (July 15, 2010) – Through the first six months of 2010, Hillwood leased 2.6 million square feet at its AllianceTexas development. That’s the highest lease total for the first half of a year in the development’s 21-year history, exceeding the previous high of 2.1 million square feet leased in the first six months of 2007. In the first half of last year, the company leased 1.9 million square feet at AllianceTexas.
Primarily due to the new leasing activity, close to 500 jobs have been added at AllianceTexas in the first half of the year. Another 1,300 jobs have been retained through renewals that were completed in the first six months of 2010.
Of the 2.6 million square feet leased so far in 2010, 1 million square feet are new deals and 1.6 million square feet are renewals.
“Equally as impressive as the amount of space that was leased in the first six months of 2010 is the diversity of what was leased,” said Mike Berry, president of Hillwood Properties. “Our bread and butter has always been our industrial portfolio, but close to 200,000 square feet of office space has been leased this year and several new retailers either completed leases or held grand openings at Alliance Town Center in the first half of 2010. Our Monterra Village apartment home community, which just opened in 2008, also is now 96% leased.”
Highlighting the leasing activity through the first six months of 2010 at AllianceTexas was LG Electronics leasing 165,402 square feet and adding 65 new jobs with the relocation of its cell phone repair unit from Alabama to AllianceTexas. Exel Logistics also expanded the North American Distribution Center that it operates for LEGO from the 402,500 Gateway 62 building to 596,000 square feet in the nearby Gateway 60 building. Texas Instruments, Lockheed, Ryder and Tarrant County College renewed leases at AllianceTexas.
At Alliance Town Center, leases were completed with AAA, Jos. A. Bank, Texas Health Resources and Zoe’s Kitchen, while Rooms To Go, BJ’s Restaurant & Brewhouse, and Tutti Frutti opened during the first half of 2010.
In addition to the record leasing activity, construction also was booming at AllianceTexas through the first six months of 2010. Health Care Service Corp., the parent company of Blue Cross Blue Shield of Texas, recently completed its 250,000 square-foot data center. Kroger began construction on its 123,000 Marketplace Concept store at Alliance Town Center. In addition construction continued on the 750,000 square-foot Deloitte University training and leadership center at Circle T Ranch, as well as the 200,000 square-foot United Markets in the Alliance Global Logistics Hub. Texas Health Resources is scheduled to begin construction later this year on its new hospital campus on the 40 acres that it bought from Hillwood last year at Golden Triangle and Interstate 35W.
The 17,000-acre AllianceTexas development includes the Alliance Global Logistics Hub, the Monterra Village apartment home community, Alliance Town Center, the corporate campuses and golf courses of Circle T Ranch, and the Heritage and Saratoga residential communities. More than 50 companies at AllianceTexas are ranked on the Fortune 500, Global 500 or Forbes List of Top Private Firms.
Hillwood, (www.hillwood.com) a Perot company, is one of the top commercial and residential real estate developers and investors in the country. The company's developments currently house facilities for 65 companies listed on either the Fortune 500, Global 500 or Forbes List of Top Private firms. In addition to AllianceTexas, Hillwood is best known for its development of AllianceCalifornia near Los Angeles and the $420-million American Airlines Center and Victory district near downtown Dallas.