Tenants Keep Leasing, So Hillwood Keeps Building In AllianceTexas With 2 Spec Buildings Planned
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Hillwood’s 26,000-acre master-planned AllianceTexas will become home to the 810K SF Alliance Center North 7 in Fort Worth, and the 460K SF Alliance Northport 2 building in Northlake.
The spec spaces come at a time when industrial-centric construction and activity in North Texas, particularly in North Fort Worth and Tarrant County, are stuck in overdrive with no signs of slowing down.
AllianceTexas launched 6M SF of new industrial projects in the past 18 months and leased about 3M SF before construction even ended, Hillwood said.
The industrial construction pipeline in North Tarrant County, including the AllianceTexas area, on a per square foot basis outpaces New York, Los Angeles and Philadelphia, according to data compiled by research and analytics firm CoStar.
It isn’t just new tenants gobbling up AllianceTexas industrial space. Existing tenant Callaway Golf Co. recently chose to quadruple its footprint in AllianceTexas with plans to build a 783K SF distribution hub.
The ongoing demand has given Hillwood no reason to slow down when it comes to the construction of speculative industrial spaces.
“These new buildings are a result of Hillwood’s on-demand approach of continuously having Class-A speculative space available for immediate occupancy to meet the needs of global logistics companies seeking instant speed in the market,” Hillwood Senior Vice President Tony Creme said.
Construction on the two spec buildings begins in September with a projected completion date of mid-2020.
Both buildings will cater to the needs of manufacturing and distribution customers, offering flexible space to accommodate single or multiple tenants, on-site trailer storage, 36-foot clear heights, cross-deck configurations and land nearby for future expansion.
The facilities also will have direct access to Interstate 35 and like other AllianceTexas developments will benefit from proximity to Fort Worth Alliance Airport, BNSF Regional Hub and the UPS and FedEx Ground hubs.