ENNIS, TX-RealEstateAAA.com has finalized plans for a 460-acreindustrial park at the southwest corner of Interstate 45 andHighway 287 Bypass. The rail-served park, dubbed Ennis GatewayIndustrial Park, is located about 20 miles south of Dallas.

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Ennis Gateway Industrial Park can accommodate more than 7.3million square feet of warehouse distribution, manufacturing andtelecommunication call center space. The total build out value isestimated at roughly $300 million, according to Alex Hancock withRealEstateAAA, a Gilbert, AZ-based company that specializes in landinvestments. Hancock is one of three RealEstateAAA principals; theother two are Bill Olsen and Bryan Morganstern.

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RealEstateAAA just completed the final piece of a four-parcelassemblage and has already obtained M-2 zoning (Heavy Industrial).The company has been working with both the Texas Department ofTransportation and Union Pacific to obtain access to Highway 287,Interstate 45 and rail lines.

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“The zoning is unique because it allows for a lot of differentuses,” Hancock tells GlobeSt., adding that the site is ideal forautomotive manufacturing.

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RealEstateAAA, which has projects in Arizona and California inaddition to Texas, spent more than three years laying the groundwork for the industrial park, Olsen tells GlobeSt. The projectrequired that a portion of land be annexed by the city ofEnnis.

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“This site is located directly in Texas’ path of industrialgrowth,” Olsen says. Ennis Industrial Park, for example, is locateddirectly across the street from the RealEstateAAA site.

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Companies such as Sterilite, CVS Pharmacy, ASMO, JTEKT, Lowe’s,PetsMart, Sherwin Williams and National Envelope have distributionfacilities in Ennis Industrial Park, which has now attracted morethan $500 million in tenant investment. Most recently, Sysco Foodspurchased about 255 acres in Ennis Industrial Park for a2-million-square-foot distribution warehouse.

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“Ennis Gateway will take up where Ennis Industrial Park leavesoff,” Olsen explains.

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RealEstateAAA plans to either partner with an industrialdeveloper or institutional investor to develop the park or sellsites within the park to end-users. The company is finalizing anagreement with a third-party real estate firm to handle propertysales.

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Currently, RealEstateAAA is marketing the park in bulk at 68cents per square foot. Developed pad sites will begin at $1.50 persquare foot.

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The company has designed a site plan for Ennis GatewayIndustrial Park, but Olsen says RealEstateAAA can deviate from theplan if user demand requires it. “We're unique in today'senvironment because we own the land outright and can make decisionswithout needing lender approval,” he notes, adding that the companyplans to bring sewer/water, electric and gas to the site, alongwith constructing roads around the perimeter of the site.

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