A Fort Worth investor has acquired Alliance Commerce Center 14 from J.P. Morgan Asset Management. The 72,772-square-foot, two-story office building sits on 5 acres within Hillwood’s AllianceTexas development, west of Interstate 35-W, at the north end of Alliance Airport.
The deal was put together by CBRE’s Gary Carr, Eric Mackey, John Alvarado, and Robert Hill, who represented J.P. Morgan.
“Investors were attracted to the property’s quality of construction, stable cash flow, and the strong fundamentals of the AllianceTexas location,” Mackey said in a statement. He said Alliance, with an overall occupancy of nearly 100 percent, is Dallas-Fort Worth’s strongest office submarket; it has seen positive net annual absorption every year since 2005.
Dan Minkoff, executive director at J.P. Morgan, said he foresees continued growth in North Fort Worth. The investment concern still owns more than 14.3 million square feet of industrial, office, and retail space in Alliance.