Financing secured for Rockwall Distribution Center in Texas
JLL Capital Markets led financing efforts for Westcore
SAN DIEGO, Nov. 6, 2023 – JLL Capital Markets announced today that it arranged 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.
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About Westcore
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 $14 billion in assets, comprised of more than 1,750 buildings and totaling over 150 million square feet. In addition to its U.S. headquarters in San Diego, Westcore has regional offices in Oakland and Dallas.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.