Value and Services Logistics will move in Feb. 1, 2001, says Tony Creme, Hillwood's marketing manager who brokered the deal. The company will use the site as a distribution facility for Panasonic Logistics.
"It's one of the biggest leases we've signed this year," Creme told GlobeSt.com. The pact also could be the deal that pushes Alliance over the top for a record-breaking banner year. Alliance is still calculating this year's total, but more than 3.1 million sf of industrial space had been created as of Sept. 30. Since then, the Hillwood team has been signing at times two pacts a week. In 1996, 3.4 million sf had been created at the mega-industrial development situated in Ft. Worth boundaries.
Value and Services Logistics, based in Rancho Domingo, CA will be occupying 65% of Alliance Gateway 55. a 360,000-sf spec building that delivered in November. Creme says talks have been ongoing for about a year, but had reached a more serious stage in the past six months. Henry S. Miller Commercial represents the tenant.
The selling factors, Creme says, are the availability of a high-quality labor force, cost advantages to being near the Burlington Northern Santa Fe intermodal yard at Alliance, industrial airport and major highway arteries. The structure also is positioned in Roanoke, one of the lowest taxing entities in the metroplex with an extra payoff in the form of a Triple Freeport designation. It is one of four municipalities in the 15,000-acre AllianceTexas consortium.
Gateway 55 is situated on a 20-acre tract, allowing Value and Services Logistics room to grow. And, says Creme, that is exactly what the players - Hillwood, Value and Services Logistics and Panasonic - expect will happen. "It's the first step in a long-term relationship," says Creme.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
