The DFW market completed nearly 26.2 million square feet of new industrial space last year and Hillwood has just announced three new speculative industrial buildings totaling almost 1.5 million square feet that will help the area continue its strong showing in that space..
Hillwood on Feb. 11 announced it will build two buildings in Alliance Northport and one building in Alliance Westport. When fully expanded, the Alliance Westport facility is designed to become one of the biggest modern distribution centers available in the United States. Each building will break ground in March and be complete in the fourth quarter of 2019. These new additions bring the total amount of speculative industrial space Hillwood has started at AllianceTexas over the past year to nearly 4 million square feet.
“Hillwood is excited to launch this next phase of our speculative building program by kicking off three new Class-A facilities, including Westport 11, which has the ability to become one of the largest state-of-the-art distribution centers in the nation at over 2 million square feet,” said Tony Creme, senior vice president of Hillwood. “Our ‘on-demand’ approach, combined with numerous shovel-ready development sites, will allow us to continue providing incredible speed-to-market opportunities in all sizes to accommodate both new and existing customers.”
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 (NYSE: SWK). 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 over 2 million square feet. This cross-dock building will have a 40’ clear height, 70’ loading bays, 190’ 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 located to provide direct access to transportation and logistics infrastructure.
Located at Alliance Northport, a 260-acre sector situated in Northlake, at the intersection of Interstate 35W and State Highway 114, Alliance Northport’s 4 and 5 will offer superior 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.
All three facilities are in close proximity to 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, they 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 (CEATL).
Alliance Westport 11 was designed by GDA Architects, and the construction financing will be provided by Bank of America. RGA Architects designed Alliance Northport’s 4 and 5, and their construction financing will be provided by Inwood Bank and Simmons Bank, respectively. Peloton Land Solution is the civil engineer for all three facilities.