Prominent AllianceTexas Property Sold
1 Nov, 2007, Dallas, TX
Former Nokia Facility Includes Additional Land
Cushman & Wakefield of Texas, Inc. announces the sale of 5650 Alliance Gateway Freeway, a 440,492-square-foot office/industrial facility located in AllianceTexas. The property, which includes approximately 61 acres of land, was sold to Hillwood, the developer of the 17,000-acre AllianceTexas. Jean Russo, Gary Collett, Bob Edge, Matt Heidelbaugh, Mari Jones and Karen Decker with Cushman & Wakefield of Texas, Inc. represented the seller, NOKIA.“The NOKIA facility is a one-of-a-kind office, assembly and distribution center that served our client well for more than 10 years,” said Mr. Collett, a senior director in Cushman & Wakefield’s Dallas office. “The building has been well maintained and offers a superior location, well conceived building design, tax savings and expansion land to accommodate immediate and future building requirements.”
“AllianceTexas is close to 100% leased, so the acquisition of this building provides Hillwood with significant space that can meet the immediate needs of our customers,” said Bill Burton, senior vice president of Hillwood Properties. “In addition the building will provide a tremendous value for a company with significant office, electrical, HVAC and parking requirements.”
The industrial building consists of approximately 130,000 square feet of finished office space, 185,000 square feet of production area and an additional 125,000 square feet of warehouse space. In addition to the 29.7 acres of land containing the existing structure, another 31.3 acres of vacant land is adjacent, with frontage on Alliance Gateway Freeway.AllianceTexas is a 17,000-acre master-planned development in north Fort Worth. It is one of the premier business parks in the world, boasting complete inland port transportation options.
Cushman & Wakefield is the world’s largest privately held real estate services firm. Founded in 1917, the firm has 201 offices in 55 countries around the globe, and 11,000 talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. We also provide valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, please call 1-800-376-3133, or visit the firm’s Web site at www.cushmanwakefield.com.
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