Hillwood Lands 493 KSF Tenant in DFW

Dallas skyline. Image courtesy of David Mark via Pixabay.com

Hillwood has secured a full-building tenant for Alliance Center North 9, an industrial warehouse totaling 493,920 square feet underway in Fort Worth, Texas. Carolina Beverage Group opted to expand within AllianceTexas and establish a new distribution center to support its production and warehouse facilities at Alliance Gateway 18 and Alliance Gateway 57, which are less than 5 miles away.

Notable tenants within the industrial park include Amazon, Walmart, FedEx and LG Electronics, among others. As of May, the industrial vacancy rate across Dallas-Fort Worth remained unchanged month-over-month, clocking in at 4.0 percent, 70 basis points below the national rate, CommercialEdge data shows.

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Alliance Center North 9 features 36-foot clear heights, 60-foot loading bays, a 135-foot as well as two 185-foot truck courts. Located on more than 28 acres at 15250 N. Beach St., the property is within 2 miles of Interstate 35W, 3 miles from Fort Worth Alliance Airport and 7 miles from BNSF Railway’s Alliance Intermodal Facility.

In March, M2G Ventures signed a 376,782-square-foot lease for two of its buildings within the Alliance corridor. The tenant agreed to occupy buildings 1 and 2 at North Quarter 35 in north Fort Worth.

Expanding AllianceTexas

The developer announced plans for the tri-load facility and the adjacent Alliance Center North 8 last October. In December, Hillwood secured a three-year, $29.6 million construction loan originated by Southside Bank to develop Alliance Center North 9, CommercialEdge data shows. Hillwood expects to deliver the two buildings this fall.

The two underway structures are part of the 665-acre Alliance Center North, an industrial segment part of the 27,000-acre mixed-use hub known as AllianceTexas. Alliance Center North will have 7 million square feet at full buildout, with facilities ranging from 162,500 to more than 1 million square feet.

The Metroplex continues to be a very active industrial market. In June, Stream Realty Partners broke ground on 20 East, an industrial project encompassing 3.4 million square feet in Mesquite, Texas. Meanwhile, Jackson-Shaw started construction on Chisholm 20, a business park totaling 917,374 square feet in Benbrook, Texas. The four-building complex is anticipated to come online in 2023.