JACKSON-SHAW ANNOUNCES THE DEVELOPMENT OF LAKEVIEW BUSINESS DISTRICT IN NORTH SHORE ROWLETT
Best-in-class development is posed to be a major economic hub for Northeast Dallas
ROWLETT, TEXAS (January 30, 2024) – Jackson-Shaw, a national real estate development company headquartered in North Texas, announced today the development of Lakeview Business District, a seven-building, 1,828,000-square-feet, 165-acre business park. The master-planned project will be built in two phases along President George Bush Turnpike at Merritt Road and Liberty Grove Road in Rowlett, Texas.
“We’re excited about the economic development that Jackson-Shaw’s Lakeview Business District will bring to North Shore Rowlett,” says Rowlett Mayor Blake Margolis. “In the coming years, Lakeview Business District will provide an estimated 1,000 net new jobs, more than $74 million in tax revenue, and be a catalyst to more development in North Shore. Offering prominent visibility, ease of access, and a strong community environment, businesses in North Shore will enjoy all DFW has to offer, with far lower occupancy costs than highly urban or coastal options.”
Phase I of the development will consist of five buildings totaling more than 1,063,000 square feet of Class A industrial space with a mix of front/rear load and cross docks. These state-of-the-art spaces will offer a modern building design with oversized glass entries and ample car and truck parking while offering direct access to President George Bush Turnpike and proximity to Interstate 30. Building sizes will range from 88,000 to 417,000 square feet, and construction is set to begin in March.
“Lakeview is a prime location in the middle of the nation's fastest-growing counties and adjacent to the Garland labor pool. Combined with strong market fundamentals and need for product in this area, Lakeview is poised to become a major economic hub,” said Jackson-Shaw Vice President of Development Miles Terry. “Congratulations and thank you to the City of Rowlett for their vision with North Shore to bring Lakeview Business District to life.”
Compatriot Capital is the equity partner, Peinado Construction is the general contractor, Pross Design Group is the architect, Hunt & Joiner is the structural engineer, Kimley Horn is the civil engineer, and Bank OZK and Affinius Capital LLC provided the financing.
LAKEVIEW BUSINESS DISTRICT RENDERINGS
Jackson-Shaw is a national real estate developer headquartered in North Texas with vast experience mixing practical knowledge with solid entrepreneurship. Since its founding in 1972, the company has developed more than 63 million square feet, including hospitality and industrial projects. Diverse markets where Jackson-Shaw develops include Dallas, Fort Worth, Austin, Houston, San Antonio, Charlotte, Denver, Las Vegas, Scottsdale, Phoenix, Jacksonville and Washington, D.C. Visit JacksonShaw.com.
ABOUT AFFINIUS CAPITAL LLC
Affinius Capital® (previously known as USAA Real Estate and Square Mile Capital Management) is an integrated institutional real estate investment firm focused on value-creation and income generation. With a 40-year track record and $32 billion in net assets under management, Affinius has a diversified portfolio across North America and Europe, providing both equity and credit to its trusted partners and on behalf of its institutional clients globally. For more information, visit www.affiniuscapital.com.
Randy E. Pruett