Real estate investment manager BGO has teamed up Alliance Industrial Company, a vertically integrated industrial real estate investment, development and operating company, to acquire a prime industrial property in Forth Worth, Texas.
The asset, known as Northwest Commerce Park Building 2, comprises 266,152sqft of industrial space located at 2765 Highway 114 in Fort Worth, Texas, and was acquired through a joint venture between the two firms. The off-market transaction represents BGO’s fourth acquisition for its US industrial value-add strategy.
Completed in 2020, Northwest Commerce Park Building 2 is a modern, single-storey, front-load distribution facility located in the NE Tarrant/Alliance industrial submarket. The property features 32ft clear heights, 51 dock-high doors, two drive-in doors, a 185ft concrete truck court, 46 trailer stalls and 135 parking spaces.
Karen Guthrie, managing director at BGO, said: “Northwest Commerce Park Building 2 reflects the type of highly functional, industrial asset we continue to target in established US distribution markets.
“Combining institutional-quality construction, efficient front-load functionality, with a strategic location in one of the country’s most important logistics markets, we believe the asset is well positioned to serve a broad range of industrial users. We are pleased to partner with Alliance Industrial Company as we work to enhance the property’s long-term value.”
Levi Hermes, managing director at Alliance Industrial Company, said: “Northwest Commerce Park Building 2 marks the first DFW acquisition for Alliance Logistics Fund I. We are pleased to partner with BGO on a class-A asset in one of the metroplex’s most sought-after industrial submarkets. Acquisitions like this reflect our continued conviction in DFW as a top-tier logistics market.”
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