NATIONAL INDUSTRIAL WAREHOUSE (ROCKWALL)
By downloading the Marketing Package (“Offering Memorandum”) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.
- Below-Average Submarket Vacancy: 1.2% Reported by CoStar
- Proximate to Interstate 30, Highway 205 and Highway 276
- Approximately One Acre of Outdoor Storage Area
- Average Asking Rents of $9 Per Square Foot in Rockwall Submarket
- Tough Barrier-to-Entry Industrial Market: Only Three Properties for Lease in Rockwall
Marcus & Millichap is pleased to present the opportunity to acquire National
Industrial Warehouse located at 182 National Drive in Rockwall, Texas. The subject property consists of an approximately 13,260 square-foot metal building and is situated on 1.5 acres of land. Built in 1999, the subject property is fully leased with approximately one acre of outdoor storage area. The asset is proximate to Interstate 30, Highway 276, and Highway 205. With Rockwall’s below-average submarket vacancy rate of 1.2 percent and only three industrial properties on market with vacancies to lease, the industrial market is a tough barrier to enter. The current tenants are all paying below-market rents, providing the opportunity to increase rates to the average asking price of $9 per square foot.
With Rockwall’s population of over 43,000; average household income in 2016 reported as over $110,000; the subject property is situated in one of the most aspiring submarkets in Dallas/Fort Worth. Major employers in Rockwall include Bimbo Bakeries USA, Baylor Scott & White Medical Center, Col-Met Engineered Finishing Solutions, Channell Commercial Corporation, and L-3 ComCept, among others.
The Dallas/Fort Worth metroplex is the fourth-most populous metro in the nation with an aggregate of more than 7.1 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 800,000 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 metros 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 21 Fortune 500 companies and many regional headquarters, drawing workers and residents. The areas extensive network of rail and highways along with the International Inland Port of Dallas ensure its status as a distribution hub.