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Thursday, January 21, 2016
Ross Perot Jr.'s Hillwood Properties to put up nearly 2M square feet of development
The 18,000-acre master-planned development is expected to add more than 1.75 million square feet to Fort Worth.
Hillwood Properties — Ross Perot's force behind the 18,000-acre master-planned AllianceTexas mixed-use development in north Fort Worth — has begun 2016 with the construction of more than 1.75 million square feet of speculative industrial space.
The new construction includes two industrial buildings in Alliance Westport and a third building in Alliance Center North. The spec space is part of the Fort Worth-based firm's strategy to cater to the needs of a wide range of companies.
Transportation accounts for about half of the total logistical costs for distributors today, which is why the developer wants to put the three buildings next to the BNSF Alliance Intermodal Facility and Interstate 35W, said Tony Creme, vice president of Hillwood Properties.
"Hillwood Properties believes in the fundamentals of the North Texas industrial market, especially at AllianceTexas," Creme said.
Recently, AllianceTexas has added LG Electronics and Walmart.com to the client roster within Alliance Center North. Creme said he expects to add some new clients to the master-planned development with these three buildings.
Two of the buildings — Alliance Westport 18 and 19 — are located at the entrance of the BNSF Railway Intermodal Facility at FM 156 and Intermodal Parkway.
Westport 18 is being built to an initial total of 800,000 square feet of industrial space with the ability to expand to 1.3 million square feet. Westport 19 will total 360,000 square feet of industrial space.
The third building — Alliance Center North 15 — will total 588,000 square feet of industrial space and is located at Interstate 35W and Eagle Parkway.
Construction on the three industrial buildings is slated for completion in the second quarter of 2016.