Hopewell Development Groundbreaking
September 12, 2024
**FOR IMMEDIATE RELEASE**
Hopewell Development and MBK Industrial Properties Celebrate Groundbreaking of Lakeside Business Center in Flower Mound, Texas
Swarren O’Barr
Director of Marketing
Lee & Associates DFW
D: 972.934.4026
sobarr@lee-associates.com
Flower Mound, Texas – September 12, 2024 – Hopewell Development, in collaboration with MBK Industrial Properties, is excited to announce the groundbreaking of Lakeside Business Center an exciting new industrial development in the Flower Mound area. Scheduled for completion in the summer of 2025, this project will introduce two premier Class A distribution warehouses totaling 123,910 square feet to the submarket. These new buildings will be available for sale and lease through Lee & Associates.
Project Highlights:
- Strategic Location & Land Acquisition: Located on the SE corner of the prominent intersection of Lakeside Parkway and Gerault Road, Hopewell Development acquired the land for this project in January 2024 through an off-market deal sourced by Alex Wilson.
- Approval and Rezoning: The Town of Flower Mound unanimously approved the property’s rezoning to industrial in January, paving the way for this new development.
- Attractive to Diverse Tenants: Lakeside Business Center is expected to attract a wide range of national and international tenants, reflecting its strategic location and advanced facility features.
- Business Park Advantages: Situated within a business park, the development will benefit from Freeport exemptions, enhancing its appeal to potential users.
- Leasing and Sales Representation: Leasing and sales of the project will be managed by Adam Graham and Alex Wilson of Lee & Associates.
The state-of-the-art facilities will feature 32-foot clear ceiling heights, a 200-foot shared truck court, ESFR sprinkler systems, and 8 dock and 2 ramped doors per warehouse. These features are designed to meet the highest standards of modern industrial buildings, making Lakeside Business Center a premier choice for a variety of industrial operators.
**About Hopewell Development**
Headquartered in Calgary with offices in Toronto and Phoenix, Hopewell Development LP is the commercial development division of the Hopewell Group of Companies. With nearly 30 years of experience, Hopewell Development is a leading commercial developer in North America, delivering highly personalized real estate solutions.
Hopewell Development manages all phases of the development process, from site selection and planning to design, financing, construction management, and leasing. The company is actively involved in projects across major cities including Vancouver, Edmonton, Calgary, Winnipeg, Toronto, Phoenix, Las Vegas, and Dallas/Fort Worth.
**About MBK Industrial Properties**
MBK Industrial Properties (MBK Industrial) is an active developer and investor of industrial properties focused on investments in California, Texas and the other western US states. MBK Industrial’s development experience consists of both joint venture and wholly owned investments and to date has completed 1.8M SF and has an active pipeline of over 2.5M SF. With a deep bench of experienced professionals, MBK Industrial has sourced and underwrite investment opportunities, often off-market, and then take the investment through the full lifecycle.
MBK Industrial is part of MBK Real Estate, which in addition to industrial properties invests and develops multi-family projects while also owning and operating a portfolio of senior living communities, under the MBK Rental Living and MBK Senior Living banners, respectively. MBK Rental Living has completed over 3,000 units to date and has an active pipeline of approximately 3,000 units throughout West Coast. MBK Senior Living currently owns or operates 39 communities in the western US. MBK Industrial and MBK Real Estate are wholly owned subsidiaries of Mitsui and Co., Ltd., a global Fortune 500 company.
**About Lee & Associates**
Lee & Associates is the largest broker-owned firm in North America, providing value-driven real estate services since 1979. The firm combines advanced technology, extensive resources, and over 40 years of expertise to deliver seamless solutions for local, national, and international clients.
*For more information about the Lakeside Business Center I & II project or to arrange interviews, please contact Alex Wilson (alexw@lee-associates.com) and Adam Graham (agraham@lee-associates.com)
*Note: All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted to errors, omissions, change of price, rental or other conditions prior to sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein.**