Transwestern recently acquired a 1.2 million-square-foot industrial property in the Alliance submarket.
FORT WORTH—The Northeast Tarrant County/Alliance submarket currently has 2 million square feet of industrial space under construction, according to market research from Transwestern Commercial Services. The high amount of speculative construction has pushed the overall vacancy rate above the Dallas-Fort Worth average, but a sharp uptick in fourth-quarter absorption shows an appetite for new construction.
To be sure, the Alliance submarket remains a top industrial submarket and recent acquisitions bear that out. Transwestern Investment Group recently acquired a 1.2 million-square-foot industrial property there from DHL Supply Chain on behalf of one of its separately managed accounts. The purchase price was undisclosed.
“This acquisition provides us the opportunity to take advantage of the current market dynamics of North Fort Worth and the Alliance submarket as it continues to show growth and remains one of the top industrial submarkets in the DFW metro,” said Greg Laczkowski, managing director at Transwestern Investment Group. “Additionally, this investment has initiated a relationship with DHL that may unearth future opportunities within its sophisticated logistics network.”
Constructed in December 2018, the property consists of two cross-dock buildings: a 705,955-square-foot building at 1753 Chaplin Dr. and a 494,041-square-foot building at 15453 Wolff Crossing. Each building offers a 36-foot clear height.
JLL's Dustin Volz represented the seller in the transaction. CBRE's Nathan Lawrence is providing leasing services.
“Alliance continues to be a national market leader for big-box tenants in the US,” Volz tells GlobeSt.com. “It is a submarket that continues to see 4 to 6 million square feet of absorption annually, while also seeing record rent growth. From an ownership and tenant perspective, they both love the logistic story and the cleanliness of the submarket.”
Located near the intersection of Farm-to-Market Route 156 and Old Blue Mound Road, the property has access to Interstate 35 West and US Route 287 via Texas State Highway 114. It is approximately 20 miles from Dallas/Fort Worth International Airport.
The Alliance submarket is home to a large master-planned mixed-use community developed by Hillwood. It is anchored by the Alliance Global Logistics Hub, which includes BNSF Railway and Union Pacific's Alliance Intermodal Facility. Alliance has grown to encompass more than 43 million square feet of developed space, more than 470 companies and in excess of 47,500 employees.
In 2018, Hillwood leased a total of almost 5 million square feet of industrial space at AllianceTexas, reinforcing market demand and the development's position as one of the top logistics destinations in the country. This activity included the 1 million-square-foot Alliance Northport 3 speculative building which was expanded during construction to become a 1.2 million-square-foot regional distribution center for Stanley Black & Decker. The company will begin operating from this new location next month.
Alliance Westport 11 will offer more than 1 million square feet initially, with the ability to expand up to 2 million square feet. This cross-dock building will have a 40-foot clear height, 70-foot loading bays, 190-foot truck courts, significant trailer stacking, and adjacent land for car and trailer parking expansion. Located on the frontage of State Highway 156 across from the entrance to the BNSF Intermodal Facility and adjacent to Fort Worth Alliance Airport, Alliance Westport 11 is strategically located to provide direct access to a significant transportation and logistics infrastructure.
Meanwhile, Alliance Northport is a 260-acre sector situated in Northlake, TX at the intersection of Interstate 35W and State Highway 114. Alliance Northport's 4 and 5 will offer highway access and one of the lowest combined tax structures in North Texas. Alliance Northport 4 will offer 225,472 square feet and Alliance Northport 5 will total 225,930 square feet. Both buildings are designed to be divisible, and each includes adjacent land for car and trailer parking expansion.
The facilities are near Fort Worth Alliance Airport, BNSF Railway's Alliance Intermodal Facility, the FedEx Express Southwest Regional Hub, and the UPS and FedEx Ground hubs. In addition, both 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.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
