Hillwood's point man for the deal didn't return a telephone bydeadline to discuss the motivation for the strategy shift for theNorth Texas-based developer who's got office, flex and industrialprojects under way coast to coast. The 25-acre asset was on themarket 30 days as a whole piece or two--369,440 sf in five techstructures and 142,356 sf in three office buildings.

[IMGCAP(2)]Michael Hardage, managing director for TranwesternDallas, tells GlobeSt.com that there were eight full-portfoliooffers and another half dozen for the two pieces. Hillwood outbidthe pack to become the second owner for the complex, which had itsoffice/tech space deliver in 1996 and the pure office come on linein 1999 and 2000. The keys were turned over by an institutionalclient of Seattle-based Kennedy Associates Real Estate CounselInc.

"There really were no hurdles because the product was so wellreceived. The buyer stepped up and performed beautifully and onschedule," Hardage says. "There were no delays." As would beexpected, the deal closed all cash, with the private buyer andseller imposing a gag rule on all financials.