FLOWER MOUND, Texas — Hillwood has begun construction on the 333,372 square-foot Lakeside Trade Center 4 building and the 456,950 square-foot Lakeside Trade Center 5 building in its Lakeside Trade Center development in Flower Mound, Texas. The two new speculative buildings, which are located just north of the intersection of Lakeside Parkway and Enterprise Drive, will be completed in December 2007.
Hillwood now has more than 5 million square feet of commercial space under construction in North Texas. This includes close to 2 million square feet that are under construction at Alliance, 1.3 million square feet that are under construction at Victory and the recently announced 550,600 square-foot speculative building underway in DeSoto. Hillwood has developed close to 30 million square feet of commercial space in North Texas since 1999.
With the outstanding incentives provided by the town of Flower Mound and Denton County, the two new buildings at Lakeside Trade Center offer the lowest combined tax rate in North Texas. The development also features the advantages of Triple Freeport, easy access to major highways and proximity to DFW Airport.
“Lakeside Trade Center has proven to be one of the top locations for distribution centers in North Texas,” said Dan Tatsch, senior vice president of Hillwood Investment Properties. “The credit goes to the town of Flower Mound, Denton County and Tarrant County for creating a tremendous business atmosphere in the development.”
Mark Miller and Adam Curran of Robert Lynn Company will market the buildings for Hillwood.
“We’re very pleased that Hillwood has initiated the second phase of their Lakeside Trade Center project in Flower Mound,” said Melissa Glasgow, director of economic development for the town of Flower Mound. “To us, it speaks to the strength of the market. We look forward to the added economic development it will bring to the town. Hillwood has more than satisfied their incentive obligations on the first phase of this project and continues to be a tremendous development partner.”
The 137-acre Lakeside Trade Center development currently houses three buildings totaling 1.4 million square feet that are 100% occupied. The development has attracted nine companies that employ approximately 400 workers. Customers in the development include Best Buy, Maytag, Stacy Furniture and Exel Logistics. Hillwood began developing Lakeside Trade Center in 2002.
Hillwood, (www.hillwood.com) 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’s developments currently house facilities for 85 companies listed on either the Fortune 500, Global 500 or Forbes List of Top Private Firms. In addition to Lakeside Trade Center, Hillwood is best known for its development of the 17,000-acre AllianceTexas development, located 15 miles northwest of DFW Airport; the $420-million American Airlines Center and Victory district near downtown Dallas; and AllianceCalifornia, the 2,000-acre logistics center near Los Angeles.
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