KKR Buys Dallas-Area Portfolio

The company has acquired three warehouse and distribution buildings within the AllianceTexas mixed-use development.

Alliance Northport 2

Hillwood has sold Alliance Northport, a three-building industrial park totaling 911,654 square feet in Northlake, Texas. KKR acquired the Class A+ portfolio within AllianceTexas, according to Denton County records.

Covering 62 acres, Alliance Northport includes:

  • Alliance Northport 2, a 460,248-square-foot tri-load facility at 17801 I-35W Frontage Road
  • Alliance Northport 4, offering 225,472 square feet with a front-load design at 4000 Dale Earnhardt Way
  • Alliance Northport 5, offering 225,934 square feet with a rear-load configuration at 4100 Dale Earnhardt Way

READ ALSO: How Dallas Investors Capitalize on Industrial’s Staying Power 

Alliance Northport 4

JLL marketed the property for sale. The industrial park currently has a 95 percent occupancy rate and a weighted average remaining lease term of more than nine years. Based on the listing, the tenant roster includes Walgreens, Crown Equipment, Smart Warehousing and Mainfreight. The property also has a 42,282-square-foot portion of vacant space.

Alliance Northport features single-story facilities equipped with ESFR sprinkler systems, clear heights between 32 and 36 feet, truck courts ranging from 135 to 185 feet along with a total of 406 car parking spaces, according to CommercialEdge data.

All three facilities are within a Foreign-Trade Zone and are easily accessible: just off Interstate 35 West, within 6 miles of Fort Worth Alliance Airport, roughly 8 miles from BNSF Railway’s Alliance Intermodal Facility as well as less than 19 miles from Dallas-Fort Worth International Airport.

North Fort Worth’s multi-sector gem

The Campuses at Circle T. Rendering courtesy of Hillwood

Developed by Hillwood, AllianceTexas is a mixed-use master-planned community across 27,000 acres in Dallas-Fort Worth’s North Fort Worth submarket. The multi-sector hub includes industrial, office, retail, residential and data center properties along with undeveloped land.

AllianceTexas encompasses a total of 53.4 million square feet, developed since its inception in 1990 that brought more than 63,000 jobs through the end of last year to the area, according to a presentation by Mike Berry, president of Hillwood, during a Fort Worth City Council work session. The mixed-use AllianceTexas business park closed 2021 with 3.6 million square feet in new leases, as well as lease renewals totaling 2.7 million square feet.

Notable tenants include Mercedes-Benz Financial Services, UPS, Meta and Amazon. AllianceTexas continues to draw tenants new and old. In 2020, Charles Schwab relocated its headquarters to a 1.2 million-square-foot campus within Circle T Ranch. Last year, Walmart expanded its presence with the acquisition of a 1 million-square-foot facility in Alliance Westport.

Hillwood continues to expand AllianceTexas. The developer recently announced plans for The Campuses at Circle T, which will include six or seven corporate campuses, part of the 2,500-acre Circle T Ranch. The Gensler-designed properties encompassing 10 million square feet will surround a new park by landscape architect Nelson Byrd Woltz.

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