Ft. Worth Weekly has a depressing (and poorly written) article this week:
Michael Berry, president of Hillwood Properties, which has built 2.5 million square feet of industrial, office, and retail space near Alliance Airport, was quoted recently by an online business publication as predicting that that there will be little or no new Hillwood construction for the next 12 months. “Even in our market, I can’t imagine you’re going to see much new construction,” he told the local chapter of the Building Owners and Managers Association.
That will affect Alliance Town Center, which has 500,000 square feet of retail space that is 85 percent leased. But the next phases, which will add a million square feet, have been put on hold, according to several sources. “If we were trying to do that project today, we wouldn’t be building it,” Berry said at the meeting, according to GlobeSt.com.
Kipp Whitman, president of Rland Properties, which is developing several retail projects in north Fort Worth, said tenants aren’t pulling out of leases, “but they are pushing back their move-in dates. … It is too early to tell what will happen.”