89-Acre Waters Ridge Project Fully Developed with Delivery of 656,000-SF Phase Three

LEWISVILLE, TX-Panattoni-Hillwood has brought to market its latest industrial project, a 656,000-sf structure, that wraps up its 89-acre Waters Ridge development in a suburb 25 miles northwest of Dallas.

The project’s lead tenant is Factory 2U, a retailer moving into 301,000 sf of the warehouse space. Vantage Furniture has signed for 170,000 sf, leaving the balance unleased at Waters Ridge III, a Hillwood source told GlobeSt.com.

Waters Ridge I totaled 600,000 sf and was completed in January 1999. The second phase consisted of 415,000 sf and was a build-to-suit for Four Seasons, an automotive supplier, which sold its existing 166,000-sf building in nearby Coppell to the two-year-old development firm after signing for Waters Ridge II.

The tilt wall-constructed Waters Ridge III brings Panattoni-Hillwood up to 3 million sf completed and 3.7 million sf leased, with more than 1.7 million sf currently under construction in its pipeline.

In a previous interview with Panattoni-Hillwood’s principal Tal Hicks, he had classified Waters Ridge as one of the most personally satisfying that he has done due to the magnitude of the project. At one point, more than 1 million sf simultaneously was under construction in the three buildings.