Press Release | 10/8/2024

Hillwood Announces 1.1 Million-Square-Foot Speculative Industrial Building, Alliance Westport 24, at AllianceTexas

FORT WORTH, TX – (October 8, 2024) — Hillwood, developer of the 27,000-acre master-planned, mixed-use AllianceTexas development, announces the launch of Alliance Westport 24, a 1.1 million-square-foot, Class A, speculative industrial building, which will have direct access to FM-156 and the BNSF Railway Alliance Intermodal Facility, one of its largest intermodal hubs nationwide. Alliance Westport 24 will break ground in October 2024 and is slated for completion in the fourth quarter of 2025.

Alliance Westport 24 is a 1,148,942 square foot, cross-dock facility designed with additional land to provide the highest amount of on-site trailer parking spaces available in the market — up to 704 onsite trailer parking spaces with the expansion of up to four total onsite truck courts. Roadway infrastructure improvements are also underway to optimize movement to and from the new facility via future Mobility Way. 

“Over the past year, AllianceTexas has experienced unprecedented industrial demand as one of the best-performing submarkets in the entire country by the measure of net absorption — even outperforming the entire Chicago market by nearly 20%,” said Reid Goetz, senior vice president of Hillwood. “With Westport 24, Hillwood is doubling down on our industrial growth strategy within AllianceTexas and remains committed to attracting best-in-class logistics and manufacturing companies requiring facilities over 1 million square feet.”

Benefiting from Denton County’s low-tax structure, the building will include a 40-foot minimum clear height, 620-foot building depth, 60-foot loading bays, on-site truck queuing, 190-foot truck courts and onsite infrastructure for future electric car and truck charging stations. The building will provide +/-394 car parking spaces and +/-227 trailer parking spaces with the initial shell building, expandable to +/-564 car parking spaces and +/- 704 trailer parking spaces. Speculative tenant improvements will be constructed with the shell building, including +/- 2,700 square feet of main office space, LED warehouse lighting, 3,000 amps of power and 20 full dock packages, allowing customers to occupy and operate within the building immediately upon construction completion.

The start of Alliance Westport 24 follows Hillwood’s recent announcement in May 2024 of Alliance Westport 14, a 766,994-square-foot, Class A, speculative industrial building already under construction that will be completed in June 2025. These projects are part of Hillwood’s plan to develop 3.5 million square feet of industrial facilities across AllianceTexas with next-generation capabilities to best suit current and prospective customers. A key part of Hillwood’s AllianceTexas success strategy, the company continually offers available, ready-to-occupy Class A speculative industrial options of all sizes for new and existing customers, including multiple one million-plus square feet facilities based on current market demand.

In May 2022, Hillwood leased its largest industrial speculative building to date to Target Corporation. The 1,240,584-square-foot facility lease to Target at Alliance Center East 1 (ACE 1) was ranked the #1 largest industrial lease in the Dallas-Fort Worth Market in 2022, according to CoStar.

In addition, Hillwood leased one of the submarket’s largest industrial speculative building projects, Alliance Westport 25, to Southwire, North America’s largest cable and wire producers, in July 2023. Alliance Westport 25 was initially launched as a 1,076,000-square-foot speculative building in August 2022. While the building was under construction, Hillwood executed a creative solution to expand the building to 1,180,550 square feet to meet Southwire’s needs while maintaining a schedule that still accommodated the company’s operational requirements. Southwire celebrated its grand opening in August 2024 and now occupies the space.

Alliance Westport 24 will benefit from AllianceTexas’ robust transportation infrastructure platform, which includes the AllianceTexas Mobility Innovation Zone (MIZ), Perot Field Fort Worth Alliance Airport (AFW) and BNSF Alliance Intermodal Facility. The MIZ is an unparalleled ecosystem with comprehensive supply chain capabilities that provides mobility innovators with infrastructure and strategic partnerships to scale and commercialize new technologies and propel transformational mobility solutions. AllianceTexas’ supply chain network amenities include the FedEx Ground Hub, two UPS Ground Sort Hubs, the FedEx Express Southwest Regional Air Hub and the Amazon Air Regional Hub.

The building is designed by RGA Architects, and Westwood is the civil engineering design firm. Hillwood Construction Services will serve as the general contractor for the project.

 

About Hillwood Properties

Hillwood Properties, based in Fort Worth, is a premier real estate developer specializing in industrial-logistics, corporate office, and retail mixed-use development, as well as airport and property management. With a commitment to excellence and innovation, Hillwood has established a reputation for quality development that drives economic growth for communities throughout North Texas. Signature developments include AllianceTexas, Circle T Ranch, and Frisco Station. To date, Hillwood Properties has developed and acquired 31 million square feet of industrial, 3.2 million square feet of retail and office, and over 4,000 multifamily units. 

AllianceTexas is an unparalleled regional success story that has transformed the North Texas economy and connected the area to global industry. Consisting of 27,000 acres, the development is anchored by the world’s first dedicated industrial airport, Perot Field Fort Worth Alliance Airport (AFW), and hosts one of the nation’s premier intermodal hubs. Today, AllianceTexas is home to 575 companies that have created more than 66,000 direct jobs and have approximately 58 million square feet of developed commercial real estate assets. The development’s cumulative impact since 1989 is an estimated $120 billion for the North Texas region. For additional information, please visit www.alliancetexas.com.

The AllianceTexas Mobility Innovation Zone (MIZ) spans the 27,000-acre industrial-focused, public-private ecosystem that brings policymakers and industry innovators together to propel surface and air mobility forward. By leveraging its one-of-a-kind infrastructure, the MIZ offers unparalleled resources to comprehensively scale and commercialize the latest logistics and mobility technologies. For more information on the capabilities at the AllianceTexas MIZ, visit www.alliancetexasmiz.com.