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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.
About Manulife Investment
Management
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.
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SOURCE Manulife Investment Management