FLOWER MOUND, Texas — Hillwood has leased 70,000 square feet in its Lakeside Trade Center 1 building in Flower Mound, Texas to Sabry Lee, which imports and distributes aftermarket automobile accessories to wholesalers.The facility is one of three new distribution centers Sabry Lee is opening this year. The others are in Los Angeles and New Jersey. From the new facility at Lakeside Trade Center, the company will handle distribution, primarily of plastic headlights and taillights, to the central United States and possibly Mexico. The company will be operational in the new building in January 2005.”Sabry Lee chose Lakeside Trade Center 1 because it is a new building with low operating costs due to tax incentives and an affordable rental rate, as well as a good location and the excellent reputation of Hillwood,” said Andrew Chen, executive vice president of Sabry Lee.A 196,100-square-foot expansion of Lakeside Trade Center 1 is underway and scheduled to be completed in December. When it’s finished, the total square footage will be 462,200 square feet. Sabry Lee will join Exel, which recently leased 42,672 square feet, Sullivans (56,000 SF) and D&K Healthcare (70,100 SF) in the building, which is located at 500 Enterprise Drive. The 266,100-square-foot first phase of the building was completed in 2003.”With the tremendous business climate created by the town of Flower Mound, Lakeside Trade Center has proven to be an excellent development location,” said Preston Herold, marketing director for Hillwood Investment Properties. “Hillwood was fortunate to be able to expand our holdings there earlier this year.” Lakeside Trade Center 1 is the second of five buildings that Hillwood is developing at two sites totaling 137 acres in Flower Mound. Best Buy and Maytag each lease half of the 600,200-square-foot Lakeside Trade Center 3 building, which opened in November 2002. The 379,700-square-foot Lakeside Trade Center 2 building, located just south of Lakeside Trade Center 1, is in “pad ready” condition, meaning that a shell building could be completed in as quickly as four months. Lakeside Trade Center 4 (334,900 SF) and Lakeside Trade Center 5 (456,950 SF) will be developed on the 55 acres that Hillwood recently purchased.Sabry Lee was represented by Muriel Hsiung of Coldwell Banker. Hillwood was represented by Mark Miller of Robert Lynn Company.Sabry Lee Inc. imports and distributes aftermarket automobile accessories that are manufactured by its parent company Eagle Eyes Traffic Ind. Co., Ltd., a Taiwanese corporation. In addition to plastic head, tail lights and plastic corner lights, the company also carries side view mirrors, fan assemblies, and AC condensers.Hillwood, a Perot company, is ranked as one of the top commercial real estate developers in the country and the top residential developer in Dallas-Fort Worth. The company is best known for its development of the 15,000-acre AllianceTexas mixed-use project located 15 miles northwest of DFW International Airport and the $420-million American Airlines Center and Victory district in Dallas. Hillwood’s newest projects are AllianceCalifornia in San Bernardino, DeSoto Trade Center in Southaven, Miss., part of the greater Memphis, Tenn. market, and Crossroads Trade Center in DeSoto, Texas.# # #Contact: David Pelletier, Hillwood(817/224-6044)[email protected]
News Article | 11/19/2004