Seefried Properties and USAA Actual Property proceed to assist plug gaps within the U.S. industrial actual property market, because the companions break floor on Rockwall Park 30 in Rockwall, Texas. The speculative improvement will add roughly 315,400 sq. toes of house to the Dallas metro’s logistics stock.
Rockwall Park 30 will take form on 23 acres fronting Interstate 30 close to Knowledge Drive. Seefried and USAA are remaining mum on the event price and funding particulars of the commercial undertaking. Nevertheless, a spokesperson for Seefried Properties advised Industrial Property Govt “this undertaking is not going to have debt financing concerned.”
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Upon completion, the campus will embody twin, side-by-side buildings of roughly 157,700 sq. toes every, each of which with the ability to accommodate a number of tenants or a single consumer. The undertaking, created by Pross Design Group, options tenant-coveted traits akin to 32-foot clear heights, concrete truck courts, ample dock-high doorways and plentiful parking areas.
Demand persists
The Dallas-area submarket stays hungry for Class A industrial services, with a bevy of things driving demand throughout the metro and domestically in Rockwall. “[There’s a] numerous economic system and powerful labor pool in Rockwall, particularly, in addition to your complete space east of Dallas,” the Seefried spokesperson stated. “And there’s strong inhabitants development occurring all through Dallas-Fort Value, however specifically, within the suburbs east of the Metropolis of Dallas.”
Seefried and USAA have been squandering precious little time attending to the commercial actual property wants of Dallas’ jap suburbs. In Forney, Texas, the companions are creating a 1 million-square-foot addition to East Gate Logistics Middle and plan to finish the undertaking within the fourth quarter of this yr.
Rockwall Park 30 is on observe to achieve completion within the fourth quarter of 2023 as effectively. EE Reed is on board as normal contractor for the undertaking, whereas KBC Advisors’ Ann Jaggars, Tony Kreme and Whit Maddox are spearheading leasing exercise.
The Rockwall groundbreaking marks the Seefried and USAA’s second partnership announcement of 2023. Within the first week of January, the businesses revealed that they had acquired a 19-acre web site in Tracy, Calif., for the event of an roughly 335,000-square-foot warehouse. The tip of the yr will show an energetic interval for Seefried and USAA, as the beginning of building on the Northern California spec undertaking can be on the group’s schedule for the fourth quarter of 2023.