Three years ago, the Hillwood team leased Gateway 22, a spec structure at 13575 Park Vista Rd., to Austin-based Dell Inc. for a training and intake site to a Fort Worth development that never materialized. Hillwood's Steve Aldrich and Bob Alter started courting the building to the market a few months ago as the Dell lease ran into its final stretch.
Aldrich tells GlobeSt.com that US Oncology, based in Houston, will move into the building in the third quarter. The finish-out, set to begin in the coming weeks, involves converting class A flex space in shell condition into a specialized, high-security facility for the company's first operated distribution center in its network. Historically, distribution has been outsourced.
The US Oncology lease is the latest in a series of medical-related deals for the 17,000-acre AllianceTexas corridor. "We're starting to have a cluster out here," Aldrich says.
US Oncology's broker, Buddy Turner of Dillon/Cresa Partners in Dallas, has a reputation for ending up with a deeply discounted deal for his clients. In keeping with Hillwood's practice, the terms are off limit.
"At the end of the day, the cost of the actual real estate is important," Aldrich says, "but it's not always the driving factor. Hillwood was able to stand on its own."
US Oncology merged into Oiler Acquisition Corp., a New York City-based private equity group, in third quarter 2004. Part of this year's strategy is to develop oncology pharmaceutical distribution operations and freestanding cancer-care centers, according to the firm, which has 925 affiliated physicians and 18 cancer centers operating at 500 locations in 32 states.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.