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FORT WORTH-After 18 months of working the plan, Hillwood, the Burlington Northern and Santa Fe Railway and the MT Cole Trust of North Texas have closed a 1,671-acre agreement to expand AllianceTexas. The quick take on the deal is the creation of what is believed to be the largest critical mass of industrial land with front-row seats for rail, air and interstate service in North America.

Details about the project and deal will be debuted tomorrow in a GlobeSt.com update. AllianceTexas’ new bounds, the second largest in its history, take it to 17,000 acres, opening the door to an additional 16 million sf of industrial product planned for the under-design Logistics Park. The extra acreage carries the promise of 10,000 more jobs for the region and another $40 million annually in property taxes as sites are built out, according to a Hillwood press release issued this morning.

Though the master plan is still being crafted, dirt work has begun on the expansion of the Burlington Northern and Santa Fe intermodal facility. Mike Berry, president of Hillwood Properties, tells GlobeSt.com that his team and BNSF have started marketing the acreage to customers. At the crux of the plan, he says, is the ability to court “a whole new tier of customers and we needed the enough land to do that.”

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