Hillwood Properties has purchased about 260 acres in Northlake for the latest addition to its AllianceTexas development.
Known as Alliance Northport, the property extends AllianceTexas deeper into Denton County. The 3 million-square-foot tract is located at Interstate 35W and State Highway 114 across from Texas Motor Speedway.
Alliance Northport is expected to feature retail and offices uses, among others, though its primary focus will be Class-A industrial buildings, according to Hillwood. The property will have access to the same workforce recruitment, training and retention resources already available to all AllianceTexas companies through the Alliance Opportunity Center, and Tarrant County College’s Corporate Training Center and Center of Excellence for Aviation, Transportation and Logistics.
“The addition of Alliance Northport continues our bullish growth plan throughout the AllianceTexas corridor with this new sector strategically located on the frontage of I-35W,” said Tony Creme, vice president of Hillwood Properties, commenting in a news release.
Alliance Northport will be able to accommodate Class-A distribution centers from less than 100,000 square feet to almost 1.3 million square feet, all offering direct access to I-35W via the Dale Earnhardt Way interchange.
“With the expansion of I-35W currently underway, Alliance Northport is well positioned to meet the demand of our customers who value Interstate-frontage, speed-to-market and low operating costs,” Crème said.
Northlake Mayor Peter Dewing welcomed the news.
“Northlake understands growth is coming, and we are in the direct path of one of the fastest growing areas in North Texas,” Dewing said.
Alliance Northport continues Hillwood’s development into Denton County as the corridor north of Fort Worth Alliance Airport begins to fill in with new development along I-35W, moving towards the city of Denton.
“With the recent announcement of Farmer Brothers’ relocation to Northlake, as well as strong demand at our Harvest residential project, we believe there is a lot of momentum to build on in the northern portion of the AllianceTexas corridor,” said Mike Berry, president of Hillwood Properties.
“In the coming years, we expect to see strong tax base growth for our public partners as this corridor matures and develops,” Berry said.
AllianceTexas is an 18,000-acre, master-planned community anchored by Fort Worth Alliance Airport, the world’s first industrial airport. More information is available at www.alliancetexas.com.
More information on Hillwood, a Perot company and commercial real estate developer, is available at www.hillwood.com.