Hillwood adding 1.2-million-square-foot building to Alliance

Posted Wednesday, Mar. 27, 2013  comments  Print Reprints

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FORT WORTH -- Hillwood Properties is betting that someone will want a big new distribution center or warehouse at its Alliance development.

The developer announced plans Tuesday to construct a speculative 1.2-million-square-foot industrial building as part of its Alliance Center North project. The building will be at the northeast corner of Interstate 35W and Eagle Parkway in far north Fort Worth.

"This is our next big block of undeveloped land that is clean and has the right infrastructure and has visibility to I-35," said Hillwood President Mike Berry, who oversees the AllianceTexas development, which includes industrial, retail and office space and an industrial airport. "It gives us a lot of flexibility to build a large variety of buildings."

This is Hillwood's first speculative building since 2008.

In the recession that followed, Hillwood focused on leasing vacant space and retaining tenants while waiting for commercial real estate to rebound.

Berry said the building will be the largest that Hillwood has constructed for AllianceTexas. The Fidelity Investments campus in Westlake is also 1.2 million square feet, but it is office space.

Hillwood is building a 1.1-million-square-foot distribution center for online retailer Amazon.com. That facility, in Haslet on the southwest side of Alliance Airport, should be completed in August.

The Alliance Center North development will have the capacity for more than 9 million square feet of industrial building space when it is built out.

"We've been watching the deal flow, particularly in the big-deal category, and the pipeline really seems to be growing again," Berry said. "We've been betting on North Texas for a long time, and the vacancies have declined over the last few years."

Andrea Ahles, 817-390-7631

Twitter: @Sky_Talk

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