A developer recently revealed plans to expand the Alliance area of Fort Worth by adding two new industrial buildings.
Dallas-based developer Hillwood will add these two buildings to the growing repertoire of its 27,000-acre AllianceTexas development, according to a recent press release.
As reported in The Dallas Express, Hillwood leases to retail giants like Target, and its complex has generated roughly $111 billion for the North Texas region.
When they open in early 2024, the two new Class A buildings, dubbed Alliance Center East 2 and Alliance Center East 3, will each span 224,616 square feet. They will also include 60-foot loading bays and one 185-foot truck court.
While they will be move-in ready, tenants can also opt for extras including the provision of office space up to 2,500 square feet, LED warehouse lighting, and warehouse power and dock door packages.
Strategically positioned along the I-35W and Westport Parkway near the Perot Field Fort Worth Alliance Airport, the buildings are expected to be appealing to tenants.
Southwire, one of North America’s largest wire and cable producers, recently leased space at AllianceTexas.
“There is continued market demand for spaces up to 225,000 square feet, particularly for manufacturers, [third-party logistics companies], and ecommerce companies,” explained Reid Goetz, Hillwood’s senior vice president, in a statement.
“With the recent completion of more than $1 billion in expansion improvements to Interstate 35W, and [a location] within the heart of AllianceTexas’ world-class logistics amenities, these buildings will give our customers access to one of the most critical freight corridors in the country,” Goetz added.
While office properties are in distress in Dallas, where it is notoriously difficult to build due to a delayed permitting process, industrial spaces are faring a bit better, with vacancy rates of 17.2% and 5.5%, respectively, as previously reported in The Dallas Express.
Yet most developers are still prioritizing projects elsewhere in the metro area, such as in Fort Worth or Frisco, where a new industrial business park is currently being built by Dallas-based developer Dalfen Industrial.
