GTIS Partners, Hopewell to Develop 361 KSF Industrial Facility
- Jan 27, 2021
GTIS Partners has teamed up with Hopewell Development LP to build Champions Circle Business Park, a 361,000-square-foot, Class A industrial facility in the North Fort Worth submarket of the Metroplex. The 21-acre project is set to include three buildings.
The development is part of AllianceTexas, an 18,000-acre master-planned, mixed-use community featuring office, industrial, retail and residential components. Alliance currently hosts more than 500 companies.
Located just off Interstate 35W, the site is within 20 miles of downtown Fort Worth. The development is adjacent to the Alliance Airport.
Hopewell, a Canadian development company with more than 25 years of experience in North American real estate, entered the U.S. market in 2010. GTIS Partners is based in New York City and has developed 5.4 million square feet of industrial space in the Americas. The company has also invested in the Metroplex residential market.
Dallas-Fort Worth has reinforced its position as a major logistics hub, benefiting from its high-quality infrastructure and location. According to GTIS, the market currently ranks as the fifth-largest in the nation by total inventory.
On a local level, the North Fort Worth submarket continues to attract new industrial development. According to a recent Newmark report, the region had more than 4 million square feet of industrial space under construction in the fourth quarter of last year. In December, JLL purchased a newly built, 350,000-square-foot industrial property in the submarket. The facility is within 5 miles of the Champions Circle project.