Commercial Property News05/10/04HILLWOOD SELLS FACILITY TO GAMESTOP FOR HQ Hillwood Sells Facility to GameStop for HQBy Jennifer D. Duell, Senior Editor GameStop Corp., one of the largest video game retailers in the world, purchased a 369,200-square-foot building in a suburb of Dallas for its new corporate headquarters and distribution center. The building, which was developed by Hillwood in 1999 as a build-to-suit for online grocer Webvan, is across the street from GameStop’s current home at 2250 William D. Tate Ave. where it currently leases 250,000 square feet. “GameStop is growing very rapidly, and they considered modifying existing building, but decided not to make the investment in a building it didn’t own,” said Dan Tatsch, who represented Hillwood in the sale, along with Mark Miller of Robert Lynn Co. Tom McCarthy and Sharon Morrison of The Staubach Co. represented GameStop in the deal.According to Tatsch, GameStop plans to make significant improvements to the building and plans to start moving in by the third quarter. Hillwood’s construction group will be doing the build out and The Staubach Co. will provide construction management services. Hillwood also will create parking for 600 cars.Although Hillwood declined to disclose the sale price, the building is valued in excess of $30 per square foot.
News Article | 5/10/2004