The project's lead tenant is Factory 2U, a retailer moving into301,000 sf of the warehouse space. Vantage Furniture has signed for170,000 sf, leaving the balance unleased at Waters Ridge III, aHillwood source told GlobeSt.com.

Waters Ridge I totaled 600,000 sf and was completed in January1999. The second phase consisted of 415,000 sf and was abuild-to-suit for Four Seasons, an automotive supplier, which soldits existing 166,000-sf building in nearby Coppell to thetwo-year-old development firm after signing for Waters RidgeII.

The tilt wall-constructed Waters Ridge III bringsPanattoni-Hillwood up to 3 million sf completed and 3.7 million sfleased, with more than 1.7 million sf currently under constructionin its pipeline.

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