FORT WORTH – Bentall Kennedy, one of North America’s largest real estate investment advisors, today announced the acquisition of a new 1.1 million-square-foot distribution center in Haslet, Tex., occupied by Amazon.com.
Bentall Kennedy acquired the property from Hillwood Development Company on behalf of an institutional investor for an undisclosed amount. The building sits on 68 acres on Westport Parkway near Fort Worth, and within AllianceTexas, the 18,000-acre, master-planned development.
Amazon confirmed in January 2013 that it had signed a 15-year lease with Hillwood to use the building, then under construction, as a regional fulfillment center for small items such as books and games. Larger items are handled from Amazon centers near Dallas and San Antonio. The Haslet center opened and shipped its first item, a night-vision hunter’s camera, on October 16.
Theproperty possesses features sought after by today’s e-commerce retailers, such as: a location near a major population center, with convenient highway access; high ceiling clearance height to accommodate multiple tiers of mezzanine space; and a high parking ratio to accommodate hundreds of distribution workers.
“Amazon’s tenancy alone makes this property a highly desirable investment, and the building will retain a high value when the lease expires in 15 years,” said David Nielsen, Senior Vice President, at Bentall Kennedy. “We see strong long-term value in large distribution centers built for e-commerce fulfillment, and Amazon is on the cutting edge of this fast-growing trend.”
About Bentall Kennedy
Bentall Kennedy is one of North America’s largest real estate investment advisors and one of its foremost providers of real estate services. Bentall Kennedy serves the interests of more than 500 clients and their 145 million square feet of office, retail, industrial, and apartment properties totaling more than $30 billion throughout Canada and the U.S.
Bentall Kennedy has a 100 year track record of delivering superior returns and a reputation for integrity, innovation and creating value. Bentall Kennedy is a member of UN PRI and is a recognized global leader in Responsible Property Investing. Bentall Kennedy includes Bentall Kennedy (Canada) Limited Partnership and Bentall Kennedy (U.S.) Limited Partnership.
For more information, visit www.bentallkennedy.com.
AllianceTexas (www.alliancetexas.com) is a 18,000-acre, master-planned community anchored by the world’s first industrial airport. It includes the Alliance Global Logistics Hub, Circle T Ranch, Heritage, Alliance Town Center, Saratoga and Monterra Village projects. AllianceTexas is now home to over 350 companies, which have built more than 32 million square feet and created over 35,000 jobs. The community also includes over one million square feet of retail, restaurant, and entertainment components integrated with a variety of single-family and luxury apartment home options. Since its inception, AllianceTexas has generated $43.74 billion in economic impact for the North Texas region.
Hillwood, a Perot company, is ranked as one of the top commercial real estate investors and developers in the country and as the top residential developer in Dallas-Fort Worth. Hillwood is best known for its Alliance brand that includes the 18,000-acre AllianceTexas, 4,474-acre AllianceFlorida at Cecil Commerce Center and 2,000-acre AllianceCalifornia developments. For additional information about the company, please visit www.hillwood.com.