ROWLETT, TEXAS — Jackson-Shaw, a national real estate development firm based in North Texas, plans to develop Lakeview Business District, an industrial park in the Dallas-Fort Worth metroplex city of Rowlett. The development will feature seven buildings spanning more than 1.8 million square feet at full build-out.
Jackson-Shaw plans to develop Lakeview Business District in two phases. Situated near I-30 in Rowlett’s North Shore area, the park will span 165 acres along President George Bush Turnpike, with one phase situated at the Merritt Road intersection and the other at Liberty Grove Road.
“Lakeview is a prime location in the middle of the nation’s fastest-growing counties and adjacent to the Garland labor pool,” says Miles Terry, vice president of development at Jackson-Shaw. “Combined with strong market fundamentals and a need for product in this area, Lakeview is poised to become a major economic hub.”
Phase I will consist of five buildings totaling more than 1 million square feet of Class A industrial space, with a mix of front- and rear-load facilities, as well as cross-docks. The facilities will feature oversized glass entries and ample car and truck parking. Building sizes will range from 88,000 to 417,000 square feet, and construction is set to begin in March.
Compatriot Capital is providing an undisclosed amount of equity financing for the project, and Bank OZK and Affinius Capital LLC are providing debt financing. The design-build team includes general contractor Peinado Construction, architect Pross Design Group, structural engineer Hunt & Joiner and civil engineer Kimley-Horn.
Rowlett Mayor Blake Margolis says Lakeview Business District will generate an estimated 1,000 new jobs at full operation and provide more than $74 million in tax revenue. The target date for full completion of both phases was not disclosed.
Jackson-Shaw was founded in 1972. Since then, the company has developed more than 63 million square feet of real estate projects, including hospitality and industrial developments. The company has developed in markets including Dallas-Fort Worth, Austin, Houston, San Antonio, Charlotte, Denver, Las Vegas, Scottsdale, Phoenix, Jacksonville and Washington, D.C.
— John Nelson