(DALLAS) – Hines, the international real estate firm, today announced that Hilti, Inc., the North American subsidiary of the Hilti Group, a global leader in innovative tool and fastening solutions, technology, software, and services for the commercial construction industry, has signed a long-term lease for two buildings totaling 485,000 square feet of available distribution and office warehouse space at Bison Grove Business Park in the Dallas-Fort Worth (“DFW”) airport submarket.
Hines purchased the 66-acre site and is in construction on four buildings totaling 880,000 square feet of light industrial space. The site is located at Round Grove Road and Edmonds Ln and offers proximity to Highway 121 in the center of the DFW airport submarket. DFW is the most populous metropolitan area in Texas and the fourth largest in the United States. With convenient access to major highway arterials 121 and I-35, this site provides tenants access to over 68 million people within a one-day drive and also has close proximity to the DFW International Airport. The location is one of the most sought-after areas for industrial tenants in Dallas-Fort Worth due to its proximity to a large and growing population base. In 2021, the DFW metroplex led the nation in industrial absorption.
“We are pleased to welcome Hilti to Bison Grove Business Park,” said Palmer Letzerich, senior managing director at Hines. “With the incredible demand for centrally located modern format distribution space in the north airport DFW region, we are excited to deliver a best-in-class project to accommodate tenants, like Hilti, that have growing and evolving business needs.”
While the Hilti North American headquarters will remain at the Legacy Tower in Plano, Texas, Hilti will occupy Buildings 3 and 4 on the campus to accommodate its growing workforce and expanding space requirements. Building 3, 350,000 square feet of cross-dock space, will be home to Hilti’s Dallas distribution center. In Building 4, Hilti will occupy 135,000 of the 200,000 square foot rear-load building, and will house Hilti’s project management office, engineering center of excellence, customer experience center, tool service center and market organizations. Both buildings will feature state-of-the-art base building specifications as well as amenities including, individual climate-controlled spaces, a high-tech business center, an on-site video studio, fitness center and outdoor green space.
Construction on Bison Grove Business Park is underway and is expected to be completed in Q2 of 2022. Hilti was represented on the transaction by David Eseke and Trish Pappas at Cushman Wakefield, and Hines was represented by Bob Hagewood and Jeremy Kelly at Stream.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 255 cities in 27 countries. Hines oversees investment assets under management totaling approximately $83.6 billion¹. In addition, Hines provides third-party property-level services to more than 367 properties totaling 138.3 million square feet. Historically, Hines has developed, redeveloped or acquired approximately 1,486 properties, totaling over 492 million square feet. The firm currently has more than 171 developments underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a foundational commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information. ¹Includes both the global Hines organization as well as RIA AUM as of June 30, 2021.
Hilti North America has its headquarters in Plano, Texas. There are 3,900 team members across the US and Canada, most of whom are in sales, service, engineering, and marketing, providing direct support to Hilti customers. The Hilti Group supplies the worldwide construction and energy industries with technologically leading products, systems, software and services, with about 30,000 team members in over 120 countries the company stands for direct customer relationships, quality and innovation.