Developer Taps 129 Acres for Retail, Industrial Plan

ROCKWALL, TX-The 233-acre Rockwall Technology Park is getting some friendly competition from a local developer who’s just bought 129 abutting acres in a plan to sell the land for light industrial and retail development.

It’s one of those deals where final price and buyer’s name are closely guarded. Mariah Bay Development Inc., the buyer of record, is led by a prominent developer with expertise in adding value to raw land, Darrell Hurmis of Henry S. Miller Commercial in Dallas tells GlobeSt.com. With time, the name will be provided. As for the price tag, it came “fairly close” to the near $3.9 million sought by the joint venture owner who had it in a land bank for the last four years, Hurmis says.

Hurmis, Robert Grunnah and Dave Valdez, all of Henry S. Miller Commercial, brokered both sides of the deal. 97 Rockwall Industrial Ltd. is the seller of record and represents a locally based investment group. The property wasn’t being actively marketed when the buyer surfaced, but 65 days later Mariah Bay became the new owner. “Everything we have is for sale at the right price,” says Hurmis.