A joint venture between United Properties and PCCP has sold Buda Midway Phase 1, a 474,465 square foot Grade A industrial park in Buda, Texas. The three-building complex was the subject of a 2021 construction loan totaling $27.6 million Wells Fargo Bankshow CommercialEdge data.
Phase 2 of the project will include four industrial buildings totaling approximately 390,000 square feet, with the first facility scheduled for completion in Spring 2023.
Phase 1 went online this year. The 35.3-acre campus consists of a rear-load and a cross-dock building, two of which are 115,090 square feet each with a headroom of 30 to 32 feet, and a 244,285 square foot facility. The largest property, situated on 19 acres, offers a headroom of 36 feet and is designed to achieve LEED certification. The complex offers 138 docks, 60 trailer spaces and 678 parking spaces. Phase I is fully leased to Sherri Hill, Four Hands and CED Greentech, the latter of which pre-released 38,840 square feet nearly a year ago.
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The property is located at 1795 Fire Cracker Drive, 15 miles from Austin and near the intersection of Interstate 35 and State Highway 45 for access to Austin, San Antonio and Dallas-Fort Worth. Austin-Bergstrom International Airport is 16 miles away. Other warehouses in the area house companies like US Foods and Amazon.
That JLL Capital Markets The team representing the seller included senior managing directors Trent Agnew and Dustin Volz, director Dom Espinosa, associate Josh Villarreal and analyst Megan Babovec.
Austin’s Industrial Development Center
Austin’s industrial market continues to expand, with new projects continually being added to the supply pipeline. Development is heavily focused in the Georgetown suburb, with three new facilities expected to be operational by the end of this year and in 2023.
Titan Development broke ground in April, adding 297,057 square feet to the NorthPark35 industrial campus. In March, Wells Fargo Bank provided a construction loan for Stonelake Capital Partners, which began construction of the Georgetown Logistics Park, a 620,000-square-foot complex, in May. A recent expansion of this Austin suburb occurred late last month when Molto Properties broke ground at Blue Springs Business Park, a 604,064-square-foot industrial park just off Interstate 35.
Titan Development also acquired a 188-acre property in Hutto, Texas to develop a major project. An industrial park with a total area of almost 2.6 million square feet is being developed along Highway 79 near the $17 billion Samsung semiconductor plant.