CRE Deals Pointing Toward Market Recovery
TEMPLE, TX-To many people who live and work in Texas, Temple is that town one passes through when driving between Dallas and Austin on Interstate 35. But Temple is also ground zero for many distribution companies – and in keeping with that theme, the Temple Economic Development Corp. has readied its Railhead of Central Pointe, a 168-acre industrial distribution development. The project, located in the 2,000-acre Central Pointe park, is being developed in conjunction with Stone Construction LLC and Transwestern. Upon completion of vertical build-out, the project will hold upwards of 2 million square feet with a price tag of well in excess of $80 million. Right now, the first phase, consisting of 68 acres served by rail, is available, with the remaining 100 acres offered based on demand. According to Stone Construction president Chris Hotze, horizontal build-out has been completed on the first phase; all that’s necessary is to encourage businesses to commit to build-to-suit or design-build projects on the land. Hotze tells Globest.com that Houston-based Stone Construction LLC became interested in Temple and Central Pointe because of some of the heavy-hitting businesses in the area. Wal-Mart Stores Inc. and regional supermarket chain H-E-B. both have 2-million-square-foot distribution centers and warehouses in Center Pointe, and Wilsonart International Inc., McClane Company Inc., Mars Petcare US Inc. and Liquid Nails also have a large presence in the park. Though Hotze says he likes the players in the area, what really attracted him was the potential for rail. “The Temple EDC just exercised an agreement with Patriot Rail, which is what makes this park unique,” Hotze says. Patriot Rail Corp. is a short-haul railroad serving similar industrial parks. Within the past couple of years, Patriot lay rail spurs to connect potential users with national rail hauler Burlington Northern Santa Fe Railway. “If someone has to have something brought to them or taken away, that short-line rail company can provide and serve each one of those specific tenants in the park,” Hotze points out. Hotze says the smallest building being contemplated in the park is 40,000 square feet, with the average size ranging between 100,000 square feet and 150,000 square feet. Five buildings are currently in negotiation stage, he adds; one of those buildings will be a transmodel center. “Most of the people we’re talking to are large, bulk companies, looking to move their distribution services from other states to Texas,” Hotze says. In many ways, Temple has become the ideal spot for distribution companies – it’s centrally located within Texas and is close to Interstate 35, a major north-south route. Furthermore, Hotze says, Temple has a pro-business stance. “The city is very open to the business community; especially businesses that bring jobs to Temple,” he adds.
GlobeSt.com - 168-Acre Railhead of Central Pointe Readies for Vertical Development - Daily News Article
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The New World of Mass Customization -
Companies now operate in a new Era of Mass Customization, where customers enjoy nearly unlimited options to satisfy their needs and appetites. Mass customization, a term Stan Davis popularized in his 1987 book Future Perfect, aptly describes the Internet’s impact on the marketplace. No longer must they put up with the “one size fits all” approach of the old Era of Mass Production.
That’s been one of my mantras - focus and simplicity. Simple can be harder than complex: You have to work hard to get your thinking clean to make it simple. But it’s worth it in the end because once you get there, you can move mountains. — Steve Jobs
Mary Immaculate School just before dawn this morning.
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