Wynne/Jackson Acquires 575 Acres in Waxahachie for Massive Industrial Project
April 7, 2022
By Mitchell Parton
3:04 PM on Apr 5, 2022
A Dallas-based real estate development firm has partnered with a California
company to bring a huge master-planned distribution and manufacturing project
to Waxahachie.
Wynne/Jackson said Tuesday that it has formed a joint venture with San
Francisco-based ProspectHill Group to acquire 575 acres for the industrial
development, called South Grove. The project can handle multiple buildings of
more than 1 million square feet, Wynne/Jackson said.
“The million-square-foot building is the new desirable footprint for a lot of these
big distributors,” said Michael Jackson, principal at Wynne/Jackson. “There’s
been a lot of those built, but they’re all full. There’s not that many sites that can
handle buildings that large.”
Infrastructure work is expected to begin in April or early May. The first phase of
work will include the construction of Marshall Road, which will connect the
property to Interstate 35E. First United Bank and Trust is financing construction.
“We’re creating this new gateway into the northwest section of Waxahachie,”
Jackson said.
Robbie Patman and Lyle Patman of ROU Realty brokered the land sale. Matt
Dornak of Stream Realty Partners will market the property to manufacturing and
distribution companies.
The property was previously under contract to a residential builder for a project
that didn’t come to fruition, Jackson said.
Wynne/Jackson has completed more than $1.5 billion in development and also
provides property management, leasing, marketing and consulting services. The
company operates in Texas and surrounding states.
ProspectHill Group, an investment and operating company founded in 2013, has
acquired more than $3.5 billion in real estate assets in Dallas, Denver, Hawaii
and the Bay Area.