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1351 Corporate Crossing Roc...

Westcore Acquires Rockwall Distribution Center From Stream Realty Partners In Texas
SOLDIndustrial

Westcore Acquires Rockwall Distribution Center From Stream Realty Partners In Texas

1351 Corporate Crossing Rockwall, TX 75032, USA

Building Size

301,120 SF

Asset Type

Industrial

Closing

Jul 11, 2023

AI

Westcore has acquired the Rockwall Distribution Center, an industrial building located at 1351 Corporate Crossing in Rockwall, Texas. The property spans 301,120 square feet and was sold by Stream Realty Partners. The transaction took place on July 11, 2023.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Address: 1351 Corporate Crossing, Rockwall, Texas
  • Market: Rockwall
  • Buyer: Westcore
  • Seller: Stream Realty Partners
  • Brokers: Dustin Volz, Stephen Bailey & Dom Espinosa - Newmark

The Rockwall Distribution Center has already secured a prelease for a significant portion of its space. Additionally, there are plans in place for further tenant occupancy and expansion. This acquisition positions Westcore to benefit from the property's future leasing potential and market demand.

Players

Stephen Bailey

Newmark

Broker

$323.3M

vol

48 deals

Broker
Westcore
WestcoreBuyer
Stream Realty Partners⁠
Stream Realty Partners⁠Seller

Texas Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93