Hillwood Refinances 1.2 MSF Fort Worth Asset
Hillwood has landed forward financing for Alliance Westport 25, a 1.2 million-square-foot industrial building in Fort Worth, Texas. Part of the 27,000-acre AllianceTexas, the facility completed construction just last month.
Thrivent Financial for Lutherans provided the seven-year note, public records show. The loan refinances the property’s existing debt, a $57.4 million construction loan originated by Citizens Bank in August 2022, according to CommercialEdge data.
Hillwood broke ground on Alliance Westport 25 on speculative basis. Situated at 14800 Blue Mound Road on a 74-acre lot, the industrial building features 40-foot clear heights, 188 dock doors and four drive-in doors.
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Southwire Co., a wire and cable manufacturer, fully occupies the property. The company preleased the facility in July 2023 for a customer service center. The location aids in streamlining Southwire’s product to the Southwest and Midwest regions.
Downtown Fort Worth is 20 miles from the facility. The Dallas Fort-Worth International Airport is approximately 24 miles away.
JLL represented the borrower. Executive Managing Director Trey Morsbach, Managing Director DJ Meagher, Associate Ryan Pollack and Analyst Chad Lisbeth led the JLL Capital Markets team.
Industrial boom in the Metroplex
Dallas-Fort Worth had the most significant development pipeline in the South as of March, according to a CommercialEdge industrial report. Some 24.5 million square feet were under construction in the metro, representing 2.6 percent of total stock.
Additionally, the Metroplex saw the largest sales volume in the South and the second-largest in the nation in the first quarter of this year, totaling $831 million, the same data shows.
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