Panattoni-Hillwood Sets Groundbreaking for 930,000-SF Build-to-Suit Projects, Spec Space

Dallas’ premier development team, Panattoni-Hillwood, Thursday will break ground on a 930,000-sf, 112-acre industrial development parceled from acreage owned by Ross Perot Sr. since the mid-1980s in Mesquite.

Skyline Business Park will launch with the usual fanfare associated for such an undertaking, marking the largest and most significant industrial development for the suburb situated southeast of Dallas and home to televised rodeos. The mid-morning kickoff will include city officials, Panattoni-Hillwood leaders and build-to-suit tenants, Shippers Warehouse and Icon Health & Fitness, each being outfitted for 400,000-sf structures. The project also includes 130,000-sf of spec space. At full build out, the park will encompass 1.7 million sf. With this project, Mesquite is getting 2.5 million sf of new industrial space.

Panattoni-Hillwood, a joint venture that includes Ross Perot Jr., bought the acreage in 1998 from Ross Perot Sr., who still owns 65 acres adjacent to the proposed Skyline Business Park. “Most likely we’ll continue to develop out the park and buy from him as we need it,” Panattoni-Hillwood principal Tal Hicks told GlobeSt.com. The park is situated on the west side of Town East Blvd. about one mile south of Texas 80.

The acreage carries a Triple Freeport exemption, granted in January. That, coupled with the availability of more land and a good labor pool, enhances the project’s ability to compete in the northeast Dallas submarket. The Icon build-to-suit is expected to be finished by year’s end, with Shippers Warehouse’s building and the spec space delivering concurrently in February, says Hicks.

Icon Health & Fitness is the world’s largest manufacturer and marketer of fitness equipment, including brand names HealthRider®, JumpKing®, Reebok® and NordicTrack®. Shippers Warehouse Distribution Services is a third-party logistics company that has been operating in theDallas-Fort Worth metroplex for 40 years.

Panattoni-Hillwood, which marks its second anniversary this month, has developed more than 3.7 million sf and leased about 3 million sf, excluding the Mesquite project, since it was founded. In 1999, the development team delivered six of the 24 largest industrial leases signed in the metroplex.