With the project abatements firmly in hand, the Santa Ana, CA-based Behr Process Corp. picked up a rail-served site near Texas 170 and US Highway 377 in the Roanoke section of AllianceTexas. Land in the immediate area is selling for $2.50 per sf to $3 per sf.
Robert Fulford II, vice president in Dallas for Grubb & Ellis Co., tells GlobeSt.com that the company's goal is to be up and running by summer 2005 on its first manufacturing site in Texas. Behr, a paint supplier for the Atlanta-based Home Depot Inc., currently has a 55,000-sf distribution center along Beltline Road in Coppell. He says Behr inked a one-year renewal in recent months to allow ample time for the new factory and distribution center to be built.
Fulford says Behr, a subsidiary of Masco Corp. in Taylor, MI, searched the area for six months before settling on the Hillwood-owned site in Denton County. The rail-served land and Roanoke's abatements were the dealmakers that catapulted the deal to Hillwood, which was up against two other North Texas landowners hoping to land the business. The site search was confined to North Texas at the behest of Home Depot, Fulford says.
According to published accounts, Roanoke officials approved $900,000 in property tax incentives with a 12-year term while Denton County anted up more than $310,000 of abatements. The factory and distribution center will create up to 125 jobs.
Fulford and Grubb & Ellis partner, Gary Lindsey, senior vice president represented Behr. Hillwood's team consisted of Bill Burton and Steve Aldrich.
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