Thank you for sharing!

Your article was successfully shared with the contacts you provided.

FORT WORTH-Pulling an office deal out of dry-dock, Textron Inc. has leased 40,788 sf of class A space in AllianceTexas. The seven-year pact boosts occupancy to 100% in a seven-year-old building that’s been mostly empty since Intel Corp. pulled the plug on a North Texas plan.

The Providence, RI-headquartered Textron and subsidiary Bell Helicopter have roughly 500 employees based in more than 200,000 sf of office and industrial space in AllianceTexas. The latest lease takes an IT group from shared space into the 72,761-sf Commerce Center 14 at 2301 Eagle Parkway. Textron will occupy most of the first floor and half of the second, setting up staged-in moves that will wrap up at the end of September, according to Bob Alter, group vice president of marketing for Hillwood Properties.

“That’s a huge win for us,” Alter tells GlobeSt.com about direct talks that began about nine months ago, went dark and were resurrected earlier this summer. “Initially, it was 24,000 sf,” he says, “but when it came back to life, it had morphed into the 71,000-sf requirement.” In the early stages of the talks, he says Textron did look around, but “quickly focused on Alliance.”

Alter says the production pipeline has enough deals working to hang a “no occupancy” sign on AllianceTexas office space. “We went from having little activity on office to having to tell prospective users that we have no space,” he says. To date this year, Hillwood’s leased 111,296 sf of office space, the most that’s been filled since 2001. AllianceTexas’ office space runs from the mid-teens into the low $20 per sf plus electric.

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?


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 © 2021 ALM Media Properties, LLC. All Rights Reserved.