Hillwood on Thursday, Feb. 22, announced , that it will build Alliance Northport 3, a speculative industrial building with more than 1.03 million square feet located at Alliance Northport, a 260-acre sector of the development situated in Northlake.
Initial plans are to build the 1.03 million-square-foot facility, but the site can accommodate over 1.2 million square feet and provide additional trailer storage when fully expanded, according to Hillwood.
The addition of Alliance Northport 3 adds next generation or modern, flexible industrial space to the AllianceTexas portfolio and expands the development’s presence deeper into Denton County. Located at the intersection of Interstate 35W and State Highway 114, the new speculative building continues development momentum into the northern portion of the AllianceTexas corridor along I-35W. The site offers significant trailer staging capacity at its entrance, ample trailer parking and 360-degree onsite circulation. Its frontage on Dale Earnhardt Way provides direct access to both I-35W and SH-114.
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“Alliance Northport 3 is strategically located to offer our future customers one of the lowest combined tax rates in the Dallas-Fort Worth region and provide excellent access to all areas of North Texas,” said Tony Creme, senior vice president of Hillwood. “In total, the Alliance Northport sector can accommodate over 3 million square feet, and is well positioned to meet the demand of industrial users who value Interstate-frontage, speed-to-market and low operating costs.”
Situated at one of the area’s fastest growing and busiest intersections, Alliance Northport’s location is in close proximity to 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.
Alliance Northport has the flexibility to accommodate a variety of product types including retail and office, the development 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.
In 2017 the Dallas-Fort Worth industrial market completed an all-time North Texas high 26.8 million square feet of new space, breaking the record it set just last year by approximately 4.1 million square feet, according to a presentation made by Crème to the Real Estate Council of Greater Fort Worth . In addition, almost 24 million square feet of net warehouse leasing occurred in DFW last year, marking the 29th consecutive quarter of positive absorption, he said. DFW is now the third largest industrial market in the U.S. at 884 million square feet, trailing only Chicago (1.2 billion square feet) and Los Angeles (927 million square feet), according to his presentation.