Transwestern Investment Group (TIG) on Feb. 12 announces it has acquired a 1.2 million-square-foot industrial property in north Fort Worth. TIG acquired the property from DHL Supply Chain on behalf of one of its separately managed accounts.
“This acquisition provides us the opportunity to take advantage of the current market dynamics of North Fort Worth and the Alliance submarket as it continues to show growth and remains one of the top industrial submarkets in the DFW metro,” said Greg Laczkowski, managing director at TIG. “Additionally, this investment has initiated a relationship with DHL that may unearth future opportunities within its sophisticated logistics network.”
Constructed in December 2018, the property consists of two cross-dock buildings: a 705,955-square-foot building at 1753 Chaplin Drive and a 494,041-square-foot building at 15453 Wolff Crossing. Each building offers a 36-foot clear height. Located near the intersection of Farm-to-Market Route 156 and Old Blue Mound Road, the property has convenient access to Interstate 35 West and U.S. Route 287 via Texas State Highway 114. It is approximately 20 miles from Dallas Fort Worth International Airport.
The Alliance submarket is home to a large master-planned, mixed-use community developed by Hillwood. It is anchored by the Alliance Global Logistics Hub, which includes BNSF Railway and Union Pacific’s Alliance Intermodal Facility. Alliance has grown to encompass more than 43 million square feet of developed space, more than 470 companies and over 47,500 employees.
The Northeast Tarrant County/Alliance submarket has seen significant activity this cycle, with 2 million square feet of industrial space currently under construction, according to market research from Transwestern Commercial Services. The high amount of speculative construction has pushed the overall vacancy rate above the Dallas-Fort Worth average, but a sharp uptick in fourth-quarter absorption shows an appetite for new construction such as this acquisition.
JLL’s Dustin Volz represented the seller in the transaction. CBRE’s Nathan Lawrence is providing leasing services.