Premium Waters Secures 291,684-SF Block

FORT WORTH-Premium Waters Inc. has held firm to a two-building footprint in AllianceTexas with a long-term renewal for a 108,261-sf office/warehouse beside its 183,423-sf Southwest US distribution center. The smaller building was leased about 18 months ago as overflow space.

In working out the terms, the lease for the smaller building at 5601 Alliance Gateway Blvd. will run co-terminus with the one for 5651 Alliance Gateway. “Based on distribution, there was not a better fit in the market than to have the building next door,” says Todd Hubbard with Dallas-based NAI Robert Lynn. He and NAI’s Rick Medinis bargained the pact against Steve Aldrich, vice president of Hillwood Properties. The buildings are joint venture-owned by Hillwood and Parsippany, NJ-based Prudential Real Estate Investors.