FLOWER MOUND, Texas — Hillwood has begun construction on a 379,700 square-foot speculative building in its Lakeside Trade Center development in Flower Mound, Texas. The new Lakeside Trade Center 2 building, which will be completed in October 2006, will be located on the northeast corner of F.M. 2499 and Enterprise Dr.
Due to the prospect of rising construction costs, Hillwood purchased the steel for Lakeside Trade Center 2 in 2004, when the company was expanding the Lakeside Trade Center 1 building. “Primarily due to the commitment to the area by the town of Flower Mound, Lakeside Trade Center has been a tremendous development location for Hillwood,” said Dan Tatsch, senior vice president of Hillwood Investment Properties. “In 2004 we knew we’d be adding another building within two years. By combining the steel purchase for two buildings, we were able to realize significant savings that will be passed on to our customers.” The 196,100 square-foot expansion of Lakeside Trade Center 1 was completed in early 2005. The now 426,200 square-foot facility is currently occupied by Sabry Lee, Exel, Sullivans, D&K Healthcare and Universal Display & Fixtures. In addition to the outstanding incentives provided by the town of Flower Mound, Lakeside Trade Center also offers the advantages of Triple Freeport, easy access to major highways and proximity to DFW Airport. The 137-acre Lakeside Trade Center development will eventually house a total of five buildings. The 600,200 square-foot Lakeside Trade Center 3 building, which was completed in 2002, is occupied by Best Buy and Maytag. Future plans include Lakeside Trade Center 4 (334,900 square feet) and Lakeside Trade Center 5 (456,950 SF). Mark Miller and Adam Curran of Robert Lynn Company will market the building for Hillwood. 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’s developments currently house facilities for 83 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 project, located 15 miles northwest of DFW Airport, AllianceCalifornia in San Bernardino and the $420-million American Airlines Center and Victory district near downtown Dallas. # # #News Article | 9/14/2006