News Article | 3/24/2006

Hillwood plans new Alliance office space

Hillwood is in the design stages for the third phase of Heritage Commons, an office development near Fort Worth Alliance Airport that encompasses its own corporate headquarters.

The L-shaped, 120,000-square-foot office building, Heritage Commons II, will wrap around AllianceTexas developer Hillwood’s headquarters along Interstate 35W and Legacy Drive frontage.

Bill Burton, senior vice president of Hillwood Properties, said the developer will break ground on the new spec space in 30 to 45 days, completing construction before the end of the year. The value of the project was not disclosed.

Dallas-based architecture firm HKS Inc. is designing the project.

“This is a natural progression for us,” said Burton, “and it just shows the maturation of the whole Alliance program. Our bread and butter will always be industrial development but, with 15,000 acres, we have the ability to create several different types of environments.”

DynCorp International, a large Irving-based government contractor, will consolidate several Metroplex offices into the recently completed Heritage Commons III April 1. The 100,000-square-foot space is situated just south of Hillwood’s headquarters.

Alliance office space reached 100% capacity in 2005, as Dyncorp made plans to utilize the additional 20,000 square feet available in Heritage Commons III. Bell Helicopter teams associated with the company’s $2.2 billion Army Reconnaisance Helicopter contract have taken space temporarily at Hillwood’s headquarters.

Bell also broke ground recently on a 200,000-square-foot Army programs center at Alliance airport. The center, which will employ 600 at its peak, will consolidate all of the company’s army programs, including militarization of ARH helicopters. Hillwood also has filled vacant space in other office buildings throughout the development.

Hillwood, which occupies 20,000 square feet in its headquarters building, is considering a move to the new Heritage Commons, said company spokesman David Pelletier. The developer added its Hillwood Energy unit and brought in additional property managers in 2005.

Pelletier said Hillwood plans to continue adding new positions on an as-needed basis, as AllianceTexas continues to grow.

“Hillwood has long been the predominant player in the industrial game in North Texas,” said Jeff Gustafson, a principal with Holt Lunsford Commercial in Dallas. “What we will see in the future is the land that’s been masterplanned for office filling in much the same way the industrial and residential have.”

Burton said the two-story building will have 60,000-square-foot floorplates, divisible by 25,000 to 35,000 square feet. Hillwood is working with lease prospects, but Burton said nothing is definitive.