Hopewell Development LP has purchased 21 acres of land in the Alliance Submarket as its first development site in the DFW Metroplex. They have partnered with GTIS Partners LP, a real estate investment and development firm based in New York, and have announced plans for the development of Champions Circle Business Park, a three-building Class A industrial park totaling 361,040 square feet. The development is located in the Alliance Submarket off State Highway 114 with access to major interstate highways including Interstate 35 and Interstate 820.
Champions Circle will be comprised of three buildings totaling 361,040 square feet – two buildings will be 82,240 square feet and one building will be 196,560 square feet. The Class A industrial development will be one of the few properties in the area built after 2020 and uniquely caters to light industrial and warehouse users with its stand-out shallow bay design. Future tenants will enjoy the easy access to Highway 114 and Interstate 35W and the abundant amenities nearby.
“Champions Circle is an exciting opportunity for Hopewell to enter the Alliance submarket, which is one of the most desirable areas in DFW. The multi-tenant design is in-line with our US growth strategy and will be a unique offering to the submarket,” said Hopewell’s VP of US Industrial, Justin LeMaster.
Hopewell, headquartered in Calgary, Canada, embarks on its first project not only in DFW, but in Texas.
Lee Associates Nathan Denton and Reid Bassinger represented Hopewell in the acquisition and will be the leasing agents for the project. “From inception, the Hopewell team recognized the impact Champions Circle would have in the Alliance Submarket as a Class A industrial park development targeting shallow bay users as an ideal opportunity for their entrance to Texas and the Dallas/Fort Worth market,” said Nathan Denton, SIOR, Principal at Lee & Associates Dallas/Fort Worth.
Dustin Volz, Stephen Bailey and Wells Waller of JLL arranged the JV partnership between Hopewell and GTIS.