Marcus & Millichap is pleased to present the opportunity to acquire the property located at 3285 Springer Lane in Rockwall, Texas. The subject property consists of approximately 10,000 square feet and is situated on 1.09 acres of land. Zoned for warehousing and other commercial uses, the multi-tenant asset features a clear height between 14’ and 18’, two grade-level doors, three-phase power, and 13 parking spaces. Located adjacent to State Highway 276, the property has easy access to Interstate 30 via Corporate Crossing. Half of the property is leased to Urban Fire Protection through April 2027 at $15.60 per square foot. With 5,000 square feet of available space for immediate occupancy, this sale offers a rare partial owner-user opportunity in the Rockwall submarket with an income-generating property to offset business costs.
The overall Rockwall submarket is relatively small, containing 6.6 million square feet of industrial space. Rockwall typically enjoys low vacancy rates ranging between 1 and 3 percent over the last decade. However, vacancies recently jumped to 7.4 percent in Q1 2024 following an 11 percent growth in inventory that started in 2023 (CoStar). The increase in industrial supply has reflected the recent surge in population growth in the area. From mid-2022 to mid-2023, Rockwall experienced the second-highest percentage growth in population among all counties in the U.S. at 6.5 percent (U.S. Census Bureau). Like most submarkets, asking rents in the Rockwall submarket have experienced a slowdown since their peak in 2022 but at 7.7 percent, the annual growth rate in Q1 was well above the increase in Consumer Price Index. At the start of the second quarter, only 173,000 square feet of industrial space was under construction in the Rockwall submarket, indicating that new supply will be less impactful on vacancies and rents for the foreseeable future (CoStar).
The Dallas-Fort Worth metroplex is the fourth-most populous metro in the nation, with an aggregate of more than 7.7 million residents. It is composed of 13 counties stretching nearly 10,000 square miles. The city of Dallas houses 1.3 million people, followed by Fort Worth with 919 thousand residents. Strong job growth continually draws new residents to the region. To accommodate the additional traffic, the region’s transportation network is evolving. Traffic flow is improved as freeways are expanded and miles are being added to tollways and turnpikes. The growth of the transportation network is vital to supporting commuters to the metro’s numerous corporations and growing industries. Dallas/Fort Worth’s population growth in recent years ranks among the highest in the U.S. for a major metro. The Metroplex is home to 24 Fortune 500 companies and many regional headquarters, drawing workers and residents. The area’s extensive network of rail and highways, along with the International Inland Port of Dallas, ensure its status as a distribution hub.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2024 Marcus & Millichap. All rights reserved. (Activity ID: ZAC0061086)
