“We like to keep a million square feet or so on the ground at all times.”
Reid Goetz
Senior Vice President
Hillwood
.…on 1.7M SF of new industrial being built at AllianceTexas in Fort Worth, via Dallas Business Journal.
Dallas-based Hillwood has broken ground on two spec industrial buildings in its AllianceTexas development in Fort Worth. Together, the two buildings will total around 1.7 million square feet with cross-dock configurations and 40-foot clear heights.
In total, industrial development at AllianceTexas will add nearly 4 million square feet this year, Hillwood says.
The two new developments at Alliance Westport 25 and Alliance Center North 4 will help meet the needs for logistics space for shipping and storage.
“You really have optionality, with all the changes that are happening in the world and impacting the supply chain, not only delivery times, but costs,” he told the DBJ of the two new developments at Alliance Westport 25 and Alliance Center North 4. AllianceTexas’ infrastructure offers flexibility to users, he said: “They don’t have to make a facility decision if they have to switch from intermodal to trucking to air. It all happens here.”
Hillwood has traditionally had a “speculative attitude toward building,” said Goetz about the topic in the Dallas Morning News. “Even with the ripples in the water of the economy, we are very bullish on what we’re seeing as the secular trends in rebuilding the supply chain,” he added.
In the last 18 months, Hillwood has leased more than 8 million square feet of industrial space to tenants, including a new building on I-35W that offered 1.2 million square feet—AllianceTexas’ largest spec warehouse ever, according to reports. Target leased the huge warehouse for a major distribution hub.
The two projects are being designed by GSR Andrade Architects, with Hillwood Construction Services as general contractor. Comerica Bank is providing the construction financing.
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