FOR IMMEDIATE RELEASE
Hillwood Properties leases 2.67 million square feet in 2011
FORT WORTH, Texas (January 25, 2012) – Despite ongoing challenges facing the commercial real estate industry, Hillwood Properties continues bucking national trends by leasing space within its 17,000-acre AllianceTexas development at a brisk pace. In 2011, Hillwood Properties, developer of the AllianceTexas master-planned community, secured new leases and tenant renewals totaling nearly 2.7 million square feet of industrial, office, mixed-use and retail space. The company also sold approximately 14 acres of land to retailers.
“While the economy has proven difficult during the past few years, Hillwood has enjoyed a solid performance at AllianceTexas due to our long-term, strategic plan for the project,” said Mike Berry, president of Hillwood Properties. “Location, multi-modal transportation options and access to a rapidly growing population of employees and consumers have created a great demand for our office, industrial, multifamily, retail and mixed-use product, and these factors will continue to fuel AllianceTexas’ expansion for years to come.”
In 2011, Hillwood Properties leased a significant amount of industrial and office space to companies who wanted to benefit from the development’s wide range of amenities and growing labor force. Among these are the Alliance Global Logistics Hub – one of the nation’s largest inland ports, easy access to major national interstates and close proximity to the development’s existing base of high-profile, global corporations. As a result, AllianceTexas secured tenants to occupy over 2.6 million square feet of space within Alliance Gateway, Westport at Alliance, Alliance Center and Alliance Crossing. Representative tenants included LG Electronics, DSC Logistics, Ryder, Exel, Bridgestone, Staffmark, Trican Well Service, Performance Team, IMDS, DynCorp International, RECARO Aircraft Seating and Equify Financial.
Growth was especially strong at Alliance Town Center in 2011 as retailers continue to be drawn to AllianceTexas’ location in the fastest-growing section of the fastest-growing major metropolitan area in the nation. Alliance Town Center is home to some of the nation’s leading retail brands and welcomed a plethora of new lifestyle-oriented tenants occupying more than 22,000 square feet. These new retail residents include Deluxe Nails, Great Clips, Cinch Cleaners, Baker Bros. American Deli, Pacific Dental, Green Tea House, Koko Fit Club, Palm Beach Tan, Pediatric Urgent Care and Starbucks Coffee. Alliance Crossing experienced similar success with leases or renewals totaling 20,840 square feet of space to Onsite Occupational Health & Safety, Texas Health Resources, Wendy’s, Snooty Pig, Logi-Trans, the Fort Worth Police Association, Dr. James Wharry, DDS, Fast Signs and Pro Cuts.
In addition to leasing retail space, Hillwood Properties sold over 9 acres of land at Alliance Town Center to Cinemark Holdings, Inc. (NYSE: CNK), one of the world’s largest motion picture exhibitors, to construct a 14-screen, all-digital movie theatre featuring the company’s new Cinemark NextGen design concept. The theatre complex will contain an extremely popular Cinemark XD Extreme Digital Cinema auditorium. Hillwood also sold over 4 acres of land at Westlake Corners to Centennial Fine Wine & Spirits and to QuikTrip.
The solid leasing activity at AllianceTexas in 2011 supports the results of a study released last year by Insight Research Corporation, which showed extraordinary growth in the retail and Class A office sectors in 2010. The study also estimated the development’s total regional economic impact over the past 20 years at $40 billion.
AllianceTexas (http://www.alliancetexas.com/) is a 17,000-acre, master-planned community anchored by the world’s first industrial airport. It includes the Alliance Global Logistics Hub, Circle T Ranch, Heritage, Alliance Town Center, Saratoga and Monterra Village projects. AllianceTexas is now home to 265 companies, which have built nearly 32 million square feet and created more than 30,000 jobs. The community also now includes more than 7,600 single-family homes and 288 luxury apartment homes.
Hillwood, a Perot company, is ranked as one of the top commercial real estate investors and developers in the country and as the top residential developer in Dallas-Fort Worth. The company’s developments currently house facilities for 58 companies listed on the Fortune 500, Global 500 or Forbes List of Top Private firms. Hillwood is best known for its Alliance brand that includes the 17,000-acre AllianceTexas, 4,474-acre AllianceFlorida at Cecil Commerce Center and 2,000-acre AllianceCalifornia developments. For additional information about the company, please visit http://www.hillwood.com/.
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