BGO and Alliance Industrial Company Acquire 266,152-SF Class A Fort Worth Industrial Asset in Off-Market Deal

BGO and Alliance Industrial Company have acquired Northwest Commerce Park Building 2, a 266,152-square-foot Class A industrial property located at 2765 Highway 114 in Fort Worth, Texas, the firms announced August 25, 2026. The off-market transaction was structured as a joint venture between the two companies and represents the fourth acquisition for BGO's U.S. industrial value-add strategy.

Marketing data for the property prior to the trade indicated guidance pricing of approximately $38.6 million, or roughly $145 per square foot, for the 2020-vintage asset. Financial terms of the completed transaction were not announced by the firms.

Asset Overview: Modern Front-Load Distribution in the Alliance Corridor

Completed in 2020, Northwest Commerce Park Building 2 is a single-story, front-load distribution facility situated on approximately 16.45 acres in the NE Tarrant/Alliance industrial submarket. The building features 32-foot clear heights, 51 dock-high doors, two drive-in doors, a 185-foot concrete truck court, 46 trailer stalls, and 135 parking spaces. Approximately 4,500 square feet of office space is built out within the facility.

The property sits on State Highway 114 with direct frontage and convenient access to Interstate 35W. It is located near BNSF's Alliance Intermodal facility and Perot Field Fort Worth Alliance Airport, positioning it within one of the Dallas-Fort Worth region's primary logistics and distribution corridors. The Alliance submarket has long served as a hub for third-party logistics operators and e-commerce distribution, with connectivity extending south along the I-35 corridor toward Austin, San Antonio, and cross-border trade routes into Mexico.

Prior to the acquisition, the building was marketed as available for lease or sale, with the space divisible to approximately 60,000 square feet, indicating the asset carried lease-up potential consistent with a value-add investment profile.

Deal Structure and Strategic Context

For BGO, the Fort Worth acquisition is the fourth deal executed under its U.S. industrial value-add strategy. The firm manages approximately $100 billion in assets under management together with Bell Partners — acquired by Sun Life and combined with BGO on July 2, 2026 — and serves more than 750 institutional clients across office, industrial, multi-residential, retail, and hospitality assets globally. Seyfarth Shaw LLP acted as legal counsel for BGO on the transaction.

For Alliance Industrial Company, the deal marks the first Dallas-Fort Worth acquisition for Alliance Logistics Fund I. The Houston-headquartered firm, which has offices in Dallas, Atlanta, Charlotte, Nashville, Chicago, and Tampa, has capitalized more than 14 million square feet of projects since its founding in 2021, with an additional 8 million-plus square feet of projects planned.

"Northwest Commerce Park Building 2 reflects the type of highly functional, industrial asset we continue to target in established U.S. distribution markets," said Karen Guthrie, Managing Director at BGO. "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."

"Northwest Commerce Park Building 2 marks the first DFW acquisition for Alliance Logistics Fund I," said Levi Hermes, Managing Director at Alliance Industrial Company. "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."

DFW Industrial Market Backdrop

The acquisition comes as the Dallas-Fort Worth industrial market works through the tail end of an oversupply cycle driven by a wave of speculative construction in prior years. Metro industrial vacancy stood at approximately 8.1 to 8.7 percent in the second quarter of 2026, down roughly 20 basis points quarter-over-quarter and 60 to 110 basis points year-over-year as demand has begun to outpace new deliveries. The broader DFW industrial inventory totals roughly 1.1 billion square feet of non-flex space, with approximately 96 million square feet currently vacant.

Within the Alliance and North Fort Worth submarket, cap rates have compressed to the high-4 to low-5 percent range, among the tightest readings in the metro, reflecting investor demand for well-located, modern logistics product in the corridor. The submarket's proximity to BNSF intermodal infrastructure and Alliance Airport has sustained occupier interest through the broader market's absorption period.

The value-add thesis for Northwest Commerce Park Building 2 centers on lease-up of the available space, with the potential to serve a range of distribution, logistics, and advanced manufacturing tenants drawn to the building's functional specifications and location within the Alliance corridor.

About the Firms

BGO is a global real estate investment management advisor with offices in more than 25 cities across 12 countries. The firm is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life. Alliance Industrial Company is a privately owned, vertically integrated industrial real estate investment, development, and construction company focused on key distribution hubs throughout the United States.