Hillwood
Hillwood has acquired the Freeport Business Center, a Class A, three-building office portfolio within the Las Colinas/Freeport submarket in Irving.
The portfolio encompasses 34 acres, more than 383,000 rentable square feet and includes Freeport Business Center I, II, and III located along Freeport Parkway and equidistant from Interstate 635 and Texas 114.
The portfolio boasts a 70% occupancy rate, with space available for lease ranging from 26,406 to 82,500 square feet. Notable tenants include Northrop Grumman Corporation, Yardi Systems, SiriusXM, and, most recently, Boeing.
Additionally, with over $6.5 million recently invested in capital improvements, the Freeport Business Center is poised to offer enhanced employee amenities, retaining a competitive advantage in the market. Improvements include extensive lobby renovations, window upgrades, landscaping, and updated building operation systems. Also, on-site is a full-service café.
“Hillwood’s decision to acquire the Freeport portfolio is a strategic move to obtain well located, quality real estate in infill locations around North Texas,” said Steve Aldrich, senior vice president of Hillwood, in a statement. “Its prime location, coupled with its proximity to DFW International Airport and several major highways, positions it as a highly desirable destination for businesses seeking exceptional connectivity and access to an abundant and talented workforce."
Hillwood’s investment in Fort Worth and throughout North Texas began 35 years ago with the development of Perot Field Fort Worth Alliance Airport. Today, the AllianceTexas development has transformed the North Texas economy and connected the area to global industry. The mixed-use development spans 27,000 acres with more than 575 companies and has generated $120 billion in regional economic impact and 66,000 direct jobs.
Hillwood is a Perot company.