The spec Lakeside Corporate Center, set to rise at 701 LakesidePkwy., is White Rock Commercial's first project in Dallas. But itsprincipals are well-known names in the metro: Rockwell Hopkins,president and CEO; Michael Perot, senior vice president ofdevelopment and marketing; and John Stone, senior vice president ofoperations and finance. The professionals have more than 100 yearsof combined experience, accrued in the ranks of Invesco Realty,Champion Partners Ltd., Trammell Crow Co., Hillwood andDenver-based Broe Cos.

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"They are going to be an active developer in the Dallas officeand industrial market," Chris Jackson, managing director andpartner with Dallas-based Stream Realty Partners LP, tellsGlobeSt.com. He and Stream vice president Bob Hagewood andassociate Blake Kendrick have won the assignment to lease WhiteRock Commercial's first project. But, they add, there are moreprojects in the works, with one about 30 days away from being ableto be discussed.

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White Rock is joining a team of high-profile developers inFlower Mound's Lakeside Business Center, but Kendrick says hebelieves they've found "a bit of a niche" with the upcomingproject. The 30-foot clear height cross-dock has been designed forusers from 40,000 sf to 100,000 sf whereas the competition ischasing both larger and smaller tenants, according to Kendrick.

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"We've actually got a couple RFPs in the 75,000-sf to 100,000-sfrange," Kendrick adds. "We're very optimistic about the pipelineand leasing a portion of the building prior to completion."

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To sweeten its position in the competitive field, the developerbought an elevated site at the hard corner of Lakeside and GardenRidge parkways. To further leverage the plan, the building has beendesigned with three entrances, 38 docks and the potential for 29trailer positions. David Meinhardt of Meinhardt & AssociatesArchitects designed Lakeside Corporate Center, which will be builtby McFadden & Miller Inc. of Dallas.

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The Stream team says the all-in project cost and rental quotesare still being fine-tuned for Lakeside Corporate Center, which wasgranted a 50% tax abatement on real and personal property for afive-year period from the city. In terms of construction, costs areconstantly fluctuating, but not too many months ago the averageprice was $45 per sf for an industrial project. And in terms ofrent, their competitors' rates in the park are averaging $3.95 persf, triple net, with $4.50 per sf as a tenant-improvementallowance.

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White Rock Commercial acquired the site last year from NewportBeach, CA-based LNR Corp., which sold a 274,125-sf warehouse rightacross the street in late December to a user. The White RockCommercial principals couldn't be reached by press time, but theirwebsite gives a glimpse into their philosophy to aim high and takeall parties' concerns into consideration to create "a legacy ofsuccess one opportunity at a time."

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