News Article | 1/15/2004

Hillwood Purchases Three Industrial Buildings In North Texas


HILLWOOD PURCHASES THREE INDUSTRIAL BUILDINGS IN NORTH TEXAS Company Has Acquired 6 Buildings Totaling 1.7M Square Feet in DFW Since Sept. ’02

DALLAS, Texas — Hillwood has purchased three industrial buildings with a total square footage of 446,446 in the Northeast Dallas/Garland submarket. Two are adjacent buildings located in Garland, Texas, while the third building is in Dallas. All three buildings were bought from City Delivery Service Company, Inc. of Dallas.One located at 3310 Kingsley Road in Garland is 218,787 square feet. The other Garland building at 3422 Kingsley Road is 129,035 square feet. The Dallas building, located at 11115 Petal Street, is 98,624 square feet.”This purchase was an opportunity for Hillwood to acquire three buildings that are 80% occupied in a proven submarket, while working with an existing customer in Shippers Warehouse,” said Tal Hicks, president of Hillwood Investment Properties. “Each of these buildings is rail-served and has excellent access to Interstate 635.”The two Garland buildings are occupied by Shippers Warehouse, whose purchase of Empire Terminal Warehouse led to Hillwood’s acquisition of the buildings. Empire Terminal Warehouse was the major tenant in the buildings.”Personally I’m excited about Shippers purchase of Empire, because that’s where I started my career,” said Shippers Warehouse CEO Darby Strickland, who worked for Empire from 1962-71. “This deal also continues our growth in North Texas and not so coincidentally our relationship with Hillwood.”Hillwood was represented in-house by Dan Tatsch and Preston Herold. City Delivery Service Co. Inc. was represented by Al Leon of Leon Brothers Inc.Since September 2002 Hillwood also has purchased a 154,915-square-foot building in Carrollton, Texas; a 472,200-square-foot building in Garland, Texas; and the 100-acre Tradepoint Business Park that includes the 600,000-square-foot Tradepoint One building in Coppell, Texas.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 AllianceTexas and the $420-million American Airlines Center and Victory district in Dallas. Hillwood’s newest projects are Lakeside Trade Center in Flower Mound, Texas; AllianceCalifornia, the 2,000-acre redevelopment of the former Norton Air Force base, in San Bernardino, Calif.; DeSoto Trade Center, a 225-acre business park in Southaven, Miss., part of the greater Memphis, Tenn. market; and Tradepoint Business Park in Coppell, Texas.# # #Contact: David Pelletier, Hillwood(817/224-6044)[email protected]