FORT WORTH, Texas — Read this story and more North Texas business news from our partners at the Dallas Business Journal
Dallas-based Hillwood plans to construct a 766,994-square-foot high-end industrial building at its AllianceTexas development, placing a massive bet on speculative space in North Texas despite a broader market slowdown.
The new building, called Alliance Westport 14, will provide access to Intermodal Parkway, FM 156 and the BNSF Railway Alliance Intermodal Facility, Hillwood announced May 1. The developer plans to break ground in June and the project is expected to be completed by the second quarter of next year.
In addition to the vast square footage under one roof, the new building will provide 196 trailer parking spaces and 306 car parking spaces. The site has additional land to expand parking. Hillwood Development Company LLC is targeting the building for companies working in industries such as logistics, e-commerce and manufacturing.
The building is designed by GSR Andrade Architects and financed by Frost Bank. Westwood provided civil engineering design and Hillwood Construction is the general contractor.
Hillwood, a Perot company that’s one of the biggest developers of industrial, commercial and residential real estate in the country, is also planning and designing an additional 3.5 million square feet of industrial buildings across AllianceTexas, the 27,000-acre master-planned and mixed-use development. The buildings will offer class A space ranging from 200,000 square feet to up to 1.2 million square feet.
"Despite a broader market slowdown in leasing and development, AllianceTexas continues to see exceptional demand from best-in-class logistics and manufacturing companies, in part due to the multi-modal supply chain transportation options provided by the logistics amenity base here," Reid Goetz, senior vice president of Hillwood, said in a statement. "Alliance Westport 14, along with one of the largest-scale building design initiatives in our history, ensures Hillwood is positioned to accommodate users of any size with next-generation industrial facilities across AllianceTexas."
Cable and wire producer company Southward leased 1.18 million square feet of space at Alliance Westport 25 last July. Hillwood expanded the building to accommodate Southwire's needs. Westport 25 and Alliance Center North 4 were announced at the same time in 2022.
Spanning nearly the size of the city of San Francisco, AllianceTexas touches nine municipalities including Denton, Fort Worth and Haslet. According to its latest economic impact report, AllianceTexas hosts 574 companies and 66,198 direct jobs as well as supporting 162,701 indirect jobs. It's known as a major inland hub.
According to AllianceTexas' website, the BSNF Railway Intermodal Facility performs more than 1 million cargo lifts onto trains and the Perot Field Fort Worth Alliance Airport ranks No. 19 in U.S. cargo operations. The mega-development is an economic powerhouse for the region, according to previous DBJ reporting, with an estimated $119.8 billion impact since 1990 and $9.8 billion last year.
