Hillwood leased 5 million square feet at AllianceTexas in 2012

Posted Monday, Feb. 18, 2013  comments  Print Reprints

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Hillwood Properties says it leased 5 million square feet of space at its AllianceTexas development in far north Fort Worth in 2012, the best year in its 22-year-history.

The leases were to new tenants as well as existing tenants that renewed and, in some cases, expanded. Of the 5 million square feet, 2.3 million square feet went to new tenants, including a 1.1-million-square-foot lease for an Amazon.com fulfillment center.

Hillwood said other notable leases include Genco ATC, Martin Brower, LG Electronics, Exel and Grainger.

"This is a tremendous achievement for the entire Hillwood team at AllianceTexas, as well as our public partners that played an important role in accommodating our new and existing corporate residents," Mike Berry, president of Hillwood Properties, said in a statement.

Alliance has more than 300 companies employing more than 30,000 workers, Hillwood said.

Apartment impact

Apartment construction and operations contributed $5.9 billion to the North Texas economy in 2011 and support about 50,000 jobs, according to a report from the Washington-based National Multi Housing Council and the National Apartment Association. The report covers a 12-county region including Tarrant County.

In Texas, the apartment industry contributed $93 million to the state's economy and supported about 35,000 jobs in 2011, the report said.

The report covers the economic contribution of apartment construction, operations and resident spending on a national level plus all 50 states.

Nationally, the apartment industry and its residents contributed $1.1 trillion to the economy, the report says.

"Although attention is usually focused on homebuilding and the single-family sector, the annual construction and operating outlays for apartment buildings with five or more units are major sources of economic activity, jobs and personal earnings," said Stephen Fuller, an economist at George Mason University, who worked on the study.


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