Seefried Properties and USAA Real Estate continue to help plug gaps in the U.S. industrial real estate market, as the partners break ground on Rockwall Park 30 in Rockwall, Texas. The speculative development will add approximately 315,400 square feet of space to the Dallas metro’s logistics inventory.
Rockwall Park 30 will take shape on 23 acres fronting Interstate 30 near Data Drive. Seefried and USAA are remaining mum on the development cost and funding details of the industrial project. However, a spokesperson for Seefried Properties told Commercial Property Executive “this project will not have debt financing involved.”
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Upon completion, the campus will encompass twin, side-by-side buildings of roughly 157,700 square feet each, both of which being able to accommodate multiple tenants or a single user. The project, created by Pross Design Group, features tenant-coveted characteristics such as 32-foot clear heights, concrete truck courts, ample dock-high doors and abundant parking spaces.
Demand persists
The Dallas-area submarket remains hungry for Class A industrial facilities, with a bevy of factors driving demand across the metro and locally in Rockwall. “[There’s a] diverse economy and strong labor pool in Rockwall, specifically, as well as the entire area east of Dallas,” the Seefried spokesperson said. “And there’s robust population growth occurring throughout Dallas-Fort Worth, but in particular, in the suburbs east of the City of Dallas.”
Seefried and USAA have been wasting precious little time attending to the industrial real estate needs of Dallas’ eastern suburbs. In Forney, Texas, the partners are developing a 1 million-square-foot addition to East Gate Logistics Center and plan to complete the project in the fourth quarter of this year.
Rockwall Park 30 is on track to reach completion in the fourth quarter of 2023 as well. EE Reed is on board as general contractor for the project, while KBC Advisors’ Ann Jaggars, Tony Kreme and Whit Maddox are spearheading leasing activity.
The Rockwall groundbreaking marks the Seefried and USAA’s second partnership announcement of 2023. In the first week of January, the companies revealed they had acquired a 19-acre site in Tracy, Calif., for the development of an approximately 335,000-square-foot warehouse. The end of the year will prove an active period for Seefried and USAA, as the start of construction at the Northern California spec project is also on the team’s schedule for the fourth quarter of 2023.
The post Seefried, USAA Break Ground on Suburban Dallas Project appeared first on Commercial Property Executive.
Dallas, Development, Industrial, News, South, KBC Advisors, Seefried Industrial Properties, USAA Real Estate
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