AllianceTexas bets big on industrial recoveryAllianceTexas bets big on industrial recoveryhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=78062013-04-02T08:00:00Z2013-04-02T00:00:00Z

FORT WORTH - Hillwood Properties is set to build a 1.2 million-sf industrial building in its AllianceTexas project beginning summer 2013.

The speculative building will be in the 650-acre Alliance Center North complex.

The new industrial building, named Alliance Center North 1, will be on the northeast side of I-35W and Eagle Pkwy. Construction will begin this summer with completion expected by first quarter 2014.

North Texas is the nation’s fifth-largest market for industrial and warehouse space. Vacancies ran above 10 percent in late 2011 and early 2012, but have been moving to 9 percent or lower, according to the CoStar Industrial Report 2012.

Deliveries of and absorption of industrial space in 2010 was the lowest in more than 30 years, but is slowly starting to recover. Users absorbed 177 million sf of U.S. industrial and warehouse space in 2012, up 15 percent from 2011.

In 2012, Hillwood secured more than 5 million sf of leases for new and existing tenants. That’s compared with just under 3 million in 2011.

Read more at the Fort Worth Business Press and the Dallas Morning News.

Fort Worth Business Press
Dallas-Fort Worth-Arlington
http://fwbusinesspress.com/fwbp/article/1/116/breaking-news/goinguphillwoodbetsonindustrialrecovery.aspxRead more at {Source}

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