Hillwood Properties plans to build more than 1.75 million square feet of speculative industrial space at AllianceTexas, the company announced Tuesday.
The space, which is composed of two industrial buildings in Alliance Westport and a third facility located in Alliance Center North, is part of a broader strategy by the developer to facilitate further growth by building additional inventory in a variety of sizes to meet a wide range of customer needs, according to a news release.
“Hillwood Properties believes in the fundamentals of the North Texas industrial market, especially at AllianceTexas where each of these new Class-A facilities will offer our customers direct access to the transportation and logistics infrastructure available at the Alliance Global Logistics Hub, as well as the work force recruitment and training services provided by the Alliance Opportunity Center,” said Tony Creme, vice president of Hillwood Properties. “Transportation accounts for over half of the total logistics costs for distribution users today, and the locations of these three buildings at the front door of the BNSF Alliance Intermodal Facility and on Interstate 35W will provide significant transportation cost savings through minimized container drayage and direct highway access.”
Alliance Westport 18 and 19 are located at the entrance to the BNSF Railway Alliance Intermodal Facility at the intersection of FM 156 and Intermodal Parkway. The larger of the two spec buildings, Westport 18, will be 800,000 square feet, with the ability to expand to 1.3 million square feet, while Westport 19 will total 360,000 square feet. Alliance Center North 15 will be 588,000 square feet, and is located at the interchange of Interstate 35W and Eagle Parkway. All three facilities will offer 360-degree, on-site truck circulation and access to adjacent land for additional car and/or trailer parking expansion opportunities. The buildings should be complete by the second quarter of 2016.
With the recent occupancy of over 2.1 million square feet by both LG Electronics and Walmart.com within Alliance Center North, these new spec buildings will give Hillwood more available space to meet future demands for medium and large spaces. Historically, Hillwood has maintained at least one million square feet of available industrial space for potential or existing customers.