Marcus & Millichap is pleased to present the opportunity to acquire the property located at 382 Ranch Trail in Rockwall, Texas. The subject property consists of approximately 5,680 square feet of warehouse space and is situated on 1.20 acres of land. The multi-tenant asset features two buildings, four grade-level doors, metal construction, and a clear height ranging from 14’ to 16’. For sale as vacant, the property is suitable for owner use or can be acquired as a lease-up investment opportunity. Situated just off Interstate 30, the property is conveniently positioned near the interchanges between President George Bush Turnpike and Interstate 635.
The subject property is primely positioned in the Rockwall submarket, containing a relatively small amount of industrial space at 6.2 million square feet. With a history of low availability, the vacancy rate fell to 4.1 percent in the third quarter of 2023 and is projected to finish the year at 2.4 percent. This compares to a 7.8 percent vacancy rate for the overall Dallas-Fort Worth market. Like most submarkets, rent growth in Rockwall has slowed this year but remains robust with an annual pace of 8.7 percent in Q3. While inventory growth was stagnant in the previous two years, Rockwall’s strong fundamentals have attracted a sizeable amount of investment in 2023. Going into the fourth quarter, 306,120 square feet were delivered year-to-date, and 503,000 square feet were under construction, representing 8.1 percent of inventory (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. © 2023 Marcus & Millichap. All rights reserved. (Activity ID: ZAE0060722)
