Alliance Industrial JV Breaks Ground on 900 KSF Texas Project

November 12, 2024

Industrial Dallas Development NewsMoreSouthwest

Construction costs are estimated at $56 million.

Rendering of one of Ironhead Commerce Center's four buildings. The development is located in Northlake, Texas. — Ironhead Commerce Center will encompass four facilities. Image courtesy of Alliance Industrial Co.

Alliance Industrial Co., in partnership with Barings, has broken ground on Ironhead Commerce Center, a four-building, 906,271-square-foot industrial park in Northlake, Texas. Stream Realty Partners will handle marketing and leasing efforts.

Estimated construction costs for the four facilities totaled $56 million in June, as revealed by Seeberger Architecture filings at the Texas Department of Licensing and Regulation. The company also provided design services.

Ironhead Commerce Center’s facilities will measure between 156,517 and 320,625 square feet. Plans call for clear heights from 32 to 36 feet. Additionally, four points of ingress and egress will be available. The park will be constructed to accommodate tenants ranging from 40,000 to 320,000 square feet.

Spanning 57.3 acres, the development’s four buildings will be at 12001 and 11901 Harmonson Road, as well as 3701 and 3655 McPherson Drive. The site is less than 3 miles from Interstate 35W and Texas State Highway 114. The Dallas Fort Worth International Airport is about 22 miles southeast.

Stream Realty Partners Senior Vice Presidents Forrest Cook and Jeff Rein, together with Associate Connor Land, will spearhead the leasing efforts for Ironhead.

Dallas-Fort Worth’s industrial pipeline tapers off

Another Dallas-Fort Worth industrial development broke ground last month. Less than 10 miles from Ironhead, Hillwood started work on a build-to-suit, 800,000-square-foot distribution center for Dick’s Sporting Goods. The project is part of Hillwood’s 27,000-acre master-planned campus dubbed AllianceTexas.

The Metroplex’s industrial supply pipeline had 16 million square feet of product under construction in September, according to a report by Cushman & Wakefield. The figure represented a 71.4 percent drop year-over-year. The market’s industrial deliveries clocked in at 9.3 million square feet during the third quarter, of which 8.3 million were in speculative projects.

Overall vacancy grew 30 basis points quarter-over-quarter, to 9.3 percent in September, the same source shows. The rate also skyrocketed 250 basis points year-over-year to its highest point since 2014.