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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.