CRE DEVELOPMENT OPPORTUNITY IN ROCKWALL, TEXAS …...From 2010 to 2019 Rockwall population grew 20.5...

JORDAN CORTEZManaging Principal

214-556-1951 [email protected]

JUSTIN TIDWELL Senior Director 214-556-1955

[email protected]

MASON JOHN Director


CHRIS LUSSIERDirector

[email protected]

FOR SALE 15.6013 ACRE DEVELOPMENT OPPORTUNITY

DEVELOPMENT OPPORTUNITY IN ROCKWALL, TEXAS

N

Lake Ray HubbardLake Ray Hubbard

Springer Springer Elementary Elementary

SchoolSchool

Rockwall Indoor Rockwall Indoor Sports ExpoSports Expo

Rockwall LakeRockwall Lake

Rainbow LakeRainbow Lake

Rise RoadRise Road

Lofland CircleLofland Circle

Hwy 205 / Golia

d Street

Hwy 205 / Golia

d Street

Rockwall Fire Rockwall Fire Station #4Station #4

Rockwall Market CenterRockwall Market Center

Rockwall Rockwall High High

SchoolSchool

Mims Road

Mims Road

Plaza at RockwallPlaza at Rockwall

The HarborThe Harbor

15.6013 Acres

205 Business Park205 Business Park

HICKORY RIDGEHICKORY RIDGEHome Prices up Home Prices up

to $275kto $275k

DEVELOPMENT OPPORTUNITY | ROCKWALL, TEXAS | 2

15.6013 ACRES | ROCKWALL, TEXAS

INVESTMENT OVERVIEWProperty 15.6013 Acres (679,593 Square Feet)1

Location Latitude: 32.890449 Longitude: -96.4364092

Asking Price $1,050,000Asking Price per Square Foot $1.55Asking Price per Acre $67,302Access State Highway 205, Lofland Circle, & Rise DriveFrontage Approximately 680 ft. on SH 205, 452 ft. on

Lofland Cir., and 808 ft. on Rise Dr.Zoning "C - Commercial District”

"AG - Agricultural District"Appraisal District Property ID 112971Acreage shown is per survey on page 5. 2Site does not have a physical address per the Rockwall Central

Appraisal District. To locate the site use the address 3600 SH 205, which is the portion of SH 205 in front of the site.

TAXING ENTITIES AND MILL RATESTaxing Authority 2020 Tax Rate102 City of Rockwall 0.3879199 Rockwall County 0.3250901 Rockwall ISD 1.3500Total 2.0629Preliminary 2020 Assessed Value $1,000,000Per the Rockwall Central Appraisal District

15.6013 Acres

DEMOGRAPHICS 0-1MI 0-3MI 0-5MIEst. Population 6,467 34,184 77,7565-Yr. Est. Population Growth 1.31% 2.41% 2.74%Avg. Household Income $79,857 $88,506 $101,293Median Value ofOwner-OccupiedHousing Units

$208,943 $288,498 $287,001

Per Site To Do Business based on 2020 data



Excellent Location: The approximately 15.6 acre site (“Site”) is strategically located 1.5 miles south of Interstate 30 (“I-30”) off of State Highway 205 (“SH 205”) (South Goliad Street) across from Springer Elementary in the rapidly growing City of Rockwall, which is located in Rockwall County, TX. Rockwall is ideally positioned along the I-30 corridor, only 20.4 miles from the Dallas Central Business District, which has continued to see a tremendous volume of development in recent years with numerous retailers/eateries, including Costco, Walmart, The Home Depot, Target, Gloria's Latin Cuisine, On The Border Mexican Grill & Cantina, Saltgrass Steak House, Sushi Box, The Oar House, and more. The Site is surrounded by both established and new upper-end residential neighborhoods with homes ranging from $230,000 to $399,000. The Site is also adjacent to the Rockwall Indoor Sports Expo, a 100,000 square-foot facility for athletic and recreational activities, and is approximately 1.3 miles south of the planned Rockwall College and Career Academy located along John King Boulevard that was opened in the Fall of 2018 and serves 800 students per class period and 5600 duplicate students.

Zoning: The Site currently has dual zoning with the majority of the Site zoned “AG - Agricultural District” and a portion at the intersection of Rise Road and SH 205 zoned “C - Commercial District” with a future planned land use of “Commercial/Retail” per the 2017 City of Rockwall Future Land Use comprehensive plan. The Commercial District zoning allows for the development of most commercial uses such as retail, office, medical, hotel, restaurants, as well as other uses. The Agriculture District zoning allows for single family dwellings on no more than ten acres and no less than one acre. A full list of permitted uses can be found in the City of Rockwall Unified Development Code in the Code of Ordinances Article 4 Section 1.1, as well as in our online data vault. The City of Rockwall indicated that they are open to modifying the existing zoning for the right development plan; the site lends itself to a variety of uses due to excellent demographics, proximity to I-30, and abundant linear frontage along SH 205.

Population, Demographics, & Traffic Counts: Traffic counts along SH 205 are close to 14,947 per day. Average household income in Rockwall is $111,413 while the median home values top $256,061 within a 3-mile radius of the Site. From 2010 to 2019 Rockwall population grew 20.5 percent to a total population of 47,436 and is projected to grow an additional 12.51 percent by 2024 to reach a population of 53,370.

Highway Expansion: The SH 205-Phase III expansion is a $135 million construction project that will widen the road just north of the Site to US 80 from a 2-lane to a

INVESTMENT HIGHLIGHTS4-lane urban divided roadway with allowance for another expansion to 6-lanes. The Rockwall County Planning Consortium Report states that they will begin to receive bids for the SH 205 expansion in November 2022. In addition to the SH 205 expansion, John King Blvd. will be undergoing an extension from SH 205 further south to Horizon Rd., creating a major intersection 0.2 miles south of the Site which should in-turn drive higher traffic counts in front of the Site.

Growing Dallas/Fort Worth Economy: The Dallas/Fort Worth metro continues to be one of the strongest in the nation, experiencing exponential growth both in terms of population and jobs. According to the U.S. Census Bureau, the DFW metro was the fastest-growing metro in the United States in 2019 adding over 117,000 residents and added 126,000 jobs year over year as of February 2020. Current population for DFW is estimated at 7.5 million people which ranks fourth in the nation and is projected to grow over 33% by 2030 to a population of nearly 10 million.

Hwy 205 / Goliad StreetHwy 205 / Goliad Street

15.6013 Acres

Rise R

oadR

ise RoadLofland Circle

Lofland Circle



15.6013 Acres

N

Lake Ray HubbardLake Ray Hubbard

Rockwall Indoor Rockwall Indoor Sports ExpoSports Expo

Rise RoadRise Road

Lofland Circle

Lofland Circle

Hwy 205 / Goliad Street

Hwy 205 / Goliad Street

Rockwall Fire Rockwall Fire Station #4Station #4

Mims RoadMims Road

Plaza at RockwallPlaza at Rockwall

Springer Springer Elementary Elementary

SchoolSchool

Rockwall FordRockwall Ford

Lakeside Lakeside ChevroletChevrolet

Toyota of Toyota of RockwallRockwall

John King Blvd

John King Blvd

Utley Middle Utley Middle SchoolSchool

Rockwall Rockwall College and College and

Career AcademyCareer Academy

205 Business Park205 Business Park

Jones Jones Elementary Elementary

SchoolSchool

Baylor Emergency Baylor Emergency Medical CenterMedical Center

Fenton Nissan Fenton Nissan of Rockwallof Rockwall

Southwest KiaSouthwest KiaHonda Cars Honda Cars of Rockwallof Rockwall

Clay Cooley Clay Cooley Hyundai of Hyundai of RockwallRockwall

HICKORY RIDGEHICKORY RIDGEHome Prices up Home Prices up

to $275kto $275k

MEADOWCREEK ESTATESMEADOWCREEK ESTATESHome Prices up to $275kHome Prices up to $275k



AREA OVERVIEW

Conveniently located along Interstate 30, Rockwall has experienced significant population growth over the past several years as the Dallas/Fort Worth Metroplex continues to experience rapid expansion. Rockwall is located approximately 30 minutes northeast of Downtown Dallas and is ideally situated along the east side of Lake Ray Hubbard. Despite its close proximity to Dallas Rockwall maintains a charming and relaxed atmosphere, complete with friendly communities and highly-rated schools.

Residents enjoy a number of local attractions and events that include the following:

Lake Ray Hubbard – Spanning 22,000 acres, Lake Ray Hubbard is one of the largest lakes in the DFW metro. The lake is a well-known destination for fishing, water skiing, and boating. There are also several parks and beaches around the perimeter, perfect for hiking, biking, or other outdoor activities.

The Harbor Rockwall – This premier mixed-use development features numerous boutique shops, restaurants, and Class A offices, in addition to a splash pad, fountains and docks to park boats while enjoying dinner. This highly-visible development can be seen when crossing over Lake Ray Hubbard on I-30. A glamorous Hilton hotel and a Cinemark Theater can also be found nearby.

Rockwall Indoor Sports Expo – The 100,000-square-foot facility located along Highway 205 adjacent to the Site provides facilities for a variety of athletic and recreational activities, including playing fields and courts, a tiered viewing area for spectators and a food court. The facility caters to leagues and tournaments, special events, and open play for children and adults.

The City of Rockwall has an estimated population of 47,436 as of 2019, having grown 25.8 percent since 2010 and 125 percent since 2000. The median household income within the City of Rockwall is $96,663, and new home prices within close proximity of the Site range from $230k to $399k. Rockwall County has a population of 104,229 as of 2019, a 24.8 percent increase since 2010, making it one of the fastest growing counties in the state.

Lake Ray Hubbard

The Harbor

Rockwall City Hall



DFW HIGHLIGHTS

• The DFW area has a well-diversified economy that ranks fourth in the nation with an estimated 2019 Gross Metropolitan Product (GMP) of $613.4 billion.

• The DFW unemployment rate is an outstanding 4.4 percent as of March 2020.

• The DFW metro has an estimated population of 7.5 million people which ranks fourth in the nation among metro areas and is projected to grow to a population of nearly 10 million by 2030.

• Twenty-four Fortune 500 companies are headquartered in DFW, ranking third most in the nation.

• The metro area has experienced a substantial amount of corporate relocations and expansions in the past several years from firms such as: State Farm Insurance, Toyota Motor Co., Omnitracs, Santander Consumer USA, Tenet Healthcare Corporation, Kohl’s, AT&T, Blue Cross and Blue Shield of Texas, USAA, Google, Amazon, McKesson, and Top Golf.

• DFW Airport is the fourth busiest in the world in terms of operations and twelfth largest in terms of passengers. The total estimated economic output of DFW airport is $37 billion and is currently undergoing a terminal renewal and improvement program at cost of $2.7 billion.

• Recent rankings and awards received by DFW include the following: #1 in the country in Total Job Growth, #5 Best Performing Cities, and #13 Most Innovative Cities in the World.

The Site is located in the City of Rockwall and Rockwall County, Texas, which is in turn part of the Dallas-Fort Worth-Arlington Metropolitan Statistical Area (“DFW”). DFW encompasses 12 counties in North Texas, with the Site being in Rockwall County. DFW has a population of 7.5 million, making it the fourth largest population center in the country.

Dallas

Fort Worth

GROSS METROPOLITAN PRODUCT

$613.4 Billion

DFW UNEMPLOYMENT RATE

4.4%

DFW ESTIMATED POPULATION

7.5 Million



ECONOMIC OVERVIEW

DFW has the fourth largest economy in the nation among MSAs and has one of the highest concentrations of corporate headquarters in the United States including twenty-four Fortune 500 companies. DFW also contains a large Information Technology industry base (often referred to as the Silicon Prairie or the Telecom Corridor), owing to the large number of corporate IT projects and the presence of numerous electronics, computing, and telecommunication firms such as Texas Instruments, HP Enterprise Services, Dell Services, Nokia, AT&T, Alcatel-Lucent, Ericsson, and Verizon in and around Dallas. In addition, several major defense manufacturers, including Lockheed Martin, Bell Helicopter, Textron, and Raytheon, maintain significant operations in DFW. Uber has recently announced they will establish a new U.S. General and Administrative Hub in Deep Ellum which will create 3,000 high-paying jobs with an estimated annual payroll of $400 million.

The Dallas-Fort Worth-Arlington MSA supports approximately 3.8 million jobs, making it one of the largest economic centers in the nation. The MSA added 126,000 jobs year-over-year in February 2020, first in the nation in terms of both the number of jobs added as well as the annual rate of job growth which was 3.4 percent compared to the national average of 1.6 percent. The region’s business-friendly environment and low cost of living have made DFW extremely attractive to both employers and employees and helped fuel massive population and job growth over the past several years with this trend expected to continue.

DALLAS/FORT WORTH MAJOR EMPLOYERS

COMPANY NAME EMPLOYEES

American Airlines Group Inc. 33,000

Baylor Scott & White Health 24,088

Lockheed Martin Corp. 20,500University of Texas Southwestern

Medical Center18,666

Medical City Healthcare 17,000

AT&T 15,000

Parkland Health & Hospital System 12,857

JPMorgan Chase 12,400

Southwest Airlines Co. 10,694

State Farm 9,400

L3 Technologies 8,000

Raytheon 7,800

Children’s Health 7,672

Methodist Health System 7,600

Pepsico 6,500

Source: Dallas Business Journal



TRANSPORTATION

Air

DFW International Airport, located approximately 20 miles from the Site, is the fourth largest in the world in terms of operations and 11th largest in terms of passengers. The total estimated economic output of DFW Airport is $37 billion and it served over 69 million passengers in 2018. American Airlines’ corporate headquarters is in Fort Worth while its main operational hub is at DFW International Airport.

Highways

The Property is situated in Rockwall, Texas, northeast of the City of Dallas. Interstate 30 and Highway 66 provide east-west connectivity in Rockwall, with both roads providing access over Lake Ray Hubbard and connecting Rockwall to the neighboring city of Rowlett to the west and Fate to the east. North-south connectivity in Rockwall is provided by John King Boulevard and State Highway 205. The Site is located along State Highway 205, approximately 1.5 miles south of Interstate 30. Travel time from the Site to Downtown Dallas is approximately 30 minutes.

Public Transit

STAR Transit offers bus transportation service, available upon request, within Rockwall and Kaufman Counties, as well as the city limits of Mesquite, Seagoville, and Balch Springs. STAR also offers Fixed-Route bus transportation from stops in Mesquite, Seagoville, and Balch Springs, all of which connect to the Dallas Area Rapid Transit (DART) Green Line, which provides public transportation throughout the Greater Dallas Area via light rail and buses.

DFW Airport

DART



DEMOGRAPHIC OVERVIEW - 1 MILE RADIUS FROM SITE

JORDAN CORTEZManaging Principal


JUSTIN TIDWELL Senior Director 214-556-1955

[email protected]

MASON JOHN Director


CHRIS LUSSIERDirector

[email protected]

CRE DEVELOPMENT OPPORTUNITY IN ROCKWALL, TEXAS …...From 2010 to 2019 Rockwall population grew 20.5...

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Transcript of CRE DEVELOPMENT OPPORTUNITY IN ROCKWALL, TEXAS …...From 2010 to 2019 Rockwall population grew 20.5...