Manulife Investment Management announces acquisition of industrial warehouse in Fort Worth, TX

US$ unless otherwise stated 

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BOSTON, Oct. 26, 2022 /PRNewswire/ - Manulife Investment Management is pleased to announce the acquisition of Alliance Gateway 11, a 788,160 square foot industrial warehouse located in the NE Tarrant/Alliance submarket of Fort Worth, Texas. The property is 100% leased to a well-known large scale tenant on a long-term lease, occupying the building as an e-commerce fulfillment facility.

The building is strategically located on a 38.2 acre site that is significant to the tenant as there are over 1.67 million people living within a 20-mile radius of the property. In addition, the property is located near the Fort Worth Alliance Airport, BNSF Railway Intermodal Facility, and major thoroughfares, including highway 114, 170, and Interstate 35.

The Dallas-Fort Worth-Arlington area is currently the fourth largest metropolitan statistical area in the United States, having grown by approximately 24% since 2010. The industrial market has grown by 223 million square feet, or nearly 27%, since the beginning of 2010, while maintaining a stable five or six percent vacancy rate over the same period.

"Our client's portfolio strategy is to increase its allocation to the industrial sector by acquiring and developing modern, functional warehouse assets," said Pritesh Patel, CIO, Americas, and head of transactions, Manulife Investment Management. "Alliance Gateway 11 represents an ideal long-term investment for their portfolio."

Manulife Investment Management develops and manages commercial real estate around the globe as part of its comprehensive private markets capabilities. As of March 31, 2022, it managed on behalf of clients over 63 million square feet of office, industrial, retail, and multifamily space strategically located in markets across Canada, the United States, and Asia Pacific. The group leverages its global platform and local expertise to provide market-leading solutions for its tenants and deliver results for its investment clients.

Manulife Investment Management is the global brand for the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public and private markets are strengthened by an investment footprint that spans 19 geographies. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We're committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.

SOURCE Manulife Investment Management