575 acres sold in Waxahachie for industrial development

WAXHACHIE – A 575-acre industrial development is coming to Waxahachie this month – the infrastructure phase will begin definitely no later than May.

Dallas-based real-estate development firm Wynne/Jackson and San Francisco based Prospect Hill Group agreed on a joint venture last week to bring the master-planned distribution and manufacturing project called South Grove to Waxahachie.

South Grove will include multiple buildings consisting of more than one-million-square-feet according to information released by Wynne/Jackson.

“The million-square-foot building is the new desirable footprint for a lot of these big distributors,” said Michael Jackson, principal at Wynne/Jackson.

While there are many large sites such as the one being developed in Waxahachie, all are currently at capacity.

First United Bank and Trust is financing the construction of the project and the sale was brokered by ROU Realty.

Prior to this recent sale last week, the property had been planned as a residential project that never came to execution.

The first phase of South Grove involving infrastructure will be the construction of Marshall Road to connect South Grove to Interstate 35E.

Both Wynne/Jackson and Prospect Hill Group have proven track records. Wynne/Jackson has over $1.5 billion in development as well as property management, leasing, marketing, and consulting services and offices in Texas and nearby states. Prospect Hill Group was founded in 2013 and is an investment and operating company that has obtained as much as $3.5 billion in real estate assets in not only the Bay Area and now Dallas, but also in Denver and Hawaii.