News Article | 7/5/2012

Hillwood to Build Spec Office at Alliance Town Center

Hillwood Properties, the Perot company behind the 17,000-acre AllianceTexas corridor in North Fort Worth, has announced plans to build two speculative office buildings at Alliance Town Center.

The first, located north of Heritage Trace Parkway, will range between 120,000 and 150,000 square feet and is targeted to both small and large corporate users. Hillwood says it’s evaluating both two- and three-story alternatives. The second, which will be incorporated into the lifestyle component Alliance Town Center, is being designed for boutique office users.

The two facilities are currently being designed; construction on the first office building is slated to begin before the end of the year.

Demand for Class A office space is on the rise, as professional jobs continue moving to the Alliance corridor, said Bill Burton, senior vice president of Hillwood Properties, in a statement. The company has an opportunity to create an office park with retail, hotel, open space, and other amenities that will attract tenants that can “take advantage of the vast number of residents in the area,” he said.

Last week, RealPoints reported that Dick’s Sporting Goods would anchor Phase II of Alliance Town Center, with a 50,000-square-foot anchor store. Current tenants at the 900-acre project include JCPenney, Belk, Best Buy, Pet Smart, Hobby Lobby, BJ’s BrewhouseMi Cocina and more.

The center is slated to include multifamily and single-family residential, medical office buildings and senior living facilities, and hotels and entertainment venues. Additionally, according to Hillwood:

• Texas Health Resources’ 188,000-square-foot Texas Health Harris Methodist Hospital Alliance will open in September. Along with traditional hospital services, it includes a 73,000-square-foot medical office complex for physicians. This will complement the North Hills Hospital ER at Alliance, an emergency care center that opened in 2011, and other physicians, dentists and wellness providers currently residing at Alliance Town Center.

• Hillwood is also expanding its multifamily housing options, with plans to develop a majority of its 3,000 additional units at Alliance Town Center over the next decade.

Alliance Town Center is situated on 900 acres between North Tarrant Parkway and Golden Triangle Boulevard on the east side of Interstate 35-W. The retail component is being developed as a joint venture between Hillwood and Trademark Property Co.