Westcore Gets $25M for DFW Industrial Facility
JLL Capital Markets secured the financing.
Totaling 301,120 square feet, Rockwall Distribution Center came online this year. Image courtesy of JLL Capital Markets
Westcore Properties has obtained $25 million in financing for Rockwall Distribution Center, a 301,120-square-foot industrial building in Rockwall, Texas. JLL Capital Markets brokered the transaction, representing the borrower and securing the loan from a private investment manager.
Westcore acquired Rockwall Distribution Center from Stream Realty Partners for an undisclosed sum. After the purchase, the company leased 209,496 square feet to an undisclosed tenant and started the process of customizing the 91,624 square feet of remaining available space with speculative office and warehouse improvements.
Completed in March, the building’s features include 32-foot clear height, ESFR sprinklers, 68 dock-high loading doors, 62 trailer parking spots and an all-concrete, 185-foot truck court. Westcore also plans to expand a western side area of the property for additional outside storage and trailer parking.
The Class A asset is at 1515 Corporate Crossings, within the Rockwall County submarket. The building is near Interstate 30, which provides direct access to Dallas-Fort Worth. The facility is also close to DFW International Airport, the 11th largest cargo airport in the U.S.
Senior Managing Directors Aldon Cole and John Rose, Director Will Mogk and Associate Brad Vansant led the JLL Capital Markets Debt Advisory team working on behalf of Westcore.
Westcore recently purchased Railhead Business Station, a 519,905-square-foot, Class A industrial campus in Fort Worth, Texas. Stream Realty Partners negotiated on behalf of the seller.
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