Hillwood, the master developer for much of San Bernardino International Airport, will complete its first speculative building in the company’s AllianceCalifornia Project this fall. Although construction on the building, known as the Gateway North Building One, began with no tenants, Illinois-based Pactiv Corp. will take about 600,000 square feet of the 913,726-square-foot building, sources knowledgeable about the deal say. Pactiv officials could not be reached for comment Thursday. Pactiv is a leading producer of specialty packaging products for the consumer and food service/food packaging markets. Among the company’s products are Hefty waste bags, Serve ‘n Store plates and Easy Grip party cups. With $2.8 billion in sales, Pactiv derives more than 80 percent of its sales from market sectors, in which it holds the No. 1 or No. 2 market-share position, Pactiv documents say. Gateway North Building One still has more than 300,000 square feet available. Although the building does not fall within the boundary of San Bernardino International Airport, it is within Hillwood’s AllianceCalifornia Project. In addition to Pactiv, Hillwood has brought Kohl’s, Mattel, Pep Boys and Medline to the project. 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. Hillwood is best known for its development of the 17,000-acre AllianceTexas development, located 15 miles northwest of the Dallas-Fort Worth International Airport. Gateway North Building One is being marketed by Peter B. McWilliams, Michael J. Daley, and Ruben V. Goodsell of the Ontario office of Colliers Seeley.
News Article | 4/14/2006