The Hillwood team's always talking, Hicks says, but those talks intensified somewhat as lease negotiations roped a 105,000-sf tenant for the balance of Pinnacle 2. Plumbmaster, a leading distributor of plumbing repair and remodel products, will share the 327,600-sf building with Quality Logistics. Move-in is set for November.
Hillwood never talks deal terms and that holds true for ongoing talks about open space. Hicks does say he'd like to have something in hand so another project in the high-demand industrial corridor could get rolling in 2003, if the economy warrants. Nothing is under contract, but the scouts are definitely out.
As for the open space in Hillwood's 1.77-million-sf Pinnacle Park project, its Cushman & Wakefield of Texas Inc. brokers, Tom Pearson, senior director, and Lizzy Pappachen, are talking too. Hicks is optimistic the balance of Hillwood's section of the park will be leased by fall. Gary Collett, director and Matt Heidelbaugh, associate director, in the C&W Dallas office, brokered the terms for the tenant.
Plumbmaster landed in the Hillwood project because it's "in the center of our employment base and has great access to transportation lanes," Don Moulton, the firm's corporate real estate director, said in a prepared statement. The site will house about 60 employees.
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