SAN DIEGO, Nov. 6, 2023 - JLL Capital Markets announced today that it arranged $25 million in financing for Rockwall Distribution Center, a newly constructed, industrial building totalling 301,120 square feet in Rockwall, Texas.
JLL represented the borrower, Westcore, to secure the loan from a private investment manager.
Delivered in March 2023, Rockwall Distribution Center is a Class A asset that 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. The facility is located at 1515 Corporate Crossings is in the Dallas-Fort Worth metroplex city of Rockwall, Texas.
Centrally situated among the four major economic centers of North America, Dallas/Fort Worth offers distributors access to 79 U.S. markets, 37% of the U.S. population within 24 hours and 93% of the population within 48 hours. Dallas/Fort Worth has three major rail lines, and four intermodal hubs currently making the region one of the nation's top intermodal transportation centers. The facility boasts proximity to DFW International Airport, the third busiest airport in the U.S. and the 11th largest cargo airport in the U.S.
The JLL Capital Markets Debt Advisory team was led by Senior Managing Directors Aldon Cole and John Rose, Director Will Mogk and Associate Brad Vansant.
"This was a great example of how there is still an abundance of capital availability and tenant demand for quality assets with strong sponsors," said Vansant. "This was evident by the rapid lease up of the building and the number of lenders that quoted the opportunity on a fixed and floating rate basis."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
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Jones Lang LaSalle Inc. published this content on 06 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 November 2023 20:04:08 UTC.
