Spec Program Has Product Ready to Occupy
With e-commerce precipitating the need for added industrial space, more development is on the way, with Hillwood building two new spec industrial buildings totaling almost 1.3 million square feet at Alliance.
FORT WORTH—Since its inception, it is estimated that AllianceTexas has generated more than $69 billion in economic impact for the North Texas region. And with e-commerce precipitating the need for added industrial space, more development is on the way.
Hillwood, developer of the 26,000-acre master-planned mixed-use development, will build two new speculative industrial buildings totaling almost 1.3 million square feet. Alliance Center North 3 will offer 782,000 square feet in Fort Worth and Alliance Northport 1 will total 500,000 square feet in Northlake.
“The demand for flexible interstate-frontage industrial space in the AllianceTexas corridor continues to be highly sought after,” said Tony Creme, senior vice president of Hillwood, tells GlobeSt.com. “Both Alliance Center North 3 and Alliance Northport 1 offer future customers excellent access to all areas of North Texas. By understanding our customer’s requirements and providing quality industrial buildings, we continue to build long-term relationships that have transformed AllianceTexas into the successful development it is today.”
Both buildings are located in Denton County on the frontage of Interstate 35W but Alliance Northport 1 has the added benefit of being located in an area with one of the lowest tax structures in North Texas. The facilities will be near the transportation infrastructure at Fort Worth Alliance Airport, BNSF Railway’s Alliance Intermodal Facility, the FedEx Express Southwest regional hub, and the UPS and FedEx ground hubs.
This will add more class-A industrial space with visibility to Hillwood’s AllianceTexas portfolio, while also expanding the development’s footprint in the county, Creme says.
“Hillwood has leased over 3 million square feet at AllianceTexas through the first half of 2018, so this is a continuation of our aggressive speculative building program designed to meet the needs of the market by having existing product on the ground ready to occupy,” said Creme. “Hillwood’s unique, vertically integrated approach allows us to provide our customers with a comprehensive real estate solution, including land ownership, facility design, financing, construction, property management, and ultimately workforce staffing and training. Our ability to facilitate these services in-house results in an efficient, streamlined partnership at AllianceTexas.”
The buildings will each have a 36-foot clear height and are designed for either single or multi-tenant configurations to meet a wide range of customer needs. Both facilities also offer ample trailer parking, 360-degree onsite truck circulation, cross-dock configuration and adjacent land for expanded parking options.
The developments will have access to the same workforce recruitment, training and retention resources that are currently available to all AllianceTexas companies via the Alliance Opportunity Center and Tarrant County College’s corporate training center and center of excellence for aviation, transportation and logistics.
Alliance Center North 3 is being designed by GDA Architects and financed by Frost Bank. Alliance Northport 1 is being designed by RGA Architects and financed by Southside Bank.
AllianceTexas is anchored by the Fort Worth Alliance Airport. More than 488 companies have built more than 43 million square feet and created in excess of 48,800 jobs there. The AllianceTexas community also includes more than 2.6 million square feet of retail, restaurant, medical and entertainment components integrated with a variety of single-family and multifamily options.