Westcore Acquires Rockwall Distribution Center in Forward Purchase from Stream Realty Partners
Westcore, a leading industrial real estate acquisition, development and asset management firm, completed a forward purchase of Rockwall Distribution Center from Stream Realty Partners for an undisclosed sum. The recently completed, 301,120-square-foot industrial building is located at 1351 Corporate Crossing in the Dallas-Fort Worth metroplex city of Rockwall, Texas.
Shortly after the walls were tilted at Rockwall Distribution Center, Westcore was able to prelease 209,496 square feet to an undisclosed tenant. Westcore is in the process of customizing the 91,624 square feet of remaining available space with speculative office and warehouse improvements to allow for immediate occupancy by one to two additional tenants.
“We are very encouraged by the tenant tours and activity for our remaining space,” said Westcore Managing Director Hack Adams. “Stream Realty Partners did a fantastic job designing and constructing a warehouse facility that caters to the robust tenant demand in the sub-300,000-square-foot size range.”
The Class A, rear-loaded Rockwall Distribution Center offers convenient access to Interstate 30. 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.
In conjunction with the primary lease, Westcore will expand an area on the western side of the property for additional outside storage and trailer parking.
Dustin Volz, Stephen Bailey and Dom Espinosa of Newmark (formerly JLL) and Matt Dornak and Ryan Wolcott of Stream Realty Partners represented the seller in the transaction.
Westcore has established itself as an active investor/owner in the Texas industrial market, with nearly six million square feet of space acquired in less than three years.
Founded in 2000, Westcore is a fully integrated industrial real estate investment company with institutional scale and capabilities that operates with speed, agility and adaptability. Since its founding, Westcore has acquired, managed and sold more than $10 billion in assets, comprised of more than 1,000 buildings and totaling over 100 million square feet. In addition to its U.S. headquarters in San Diego, Westcore has regional offices in Oakland and Dallas.