TA Realty has acquired Harris Ridge Business Center, a 387,838-square-foot Class A + business park in Austin, Texas, from HPI Real Estate Services & Investments. CBRE National Partners represented the seller in the disposal of fully leased assets.
The industrial park is 1100E. Located in the Triple Freeport Zone in Howard Lane. Five buildings were built between 2008 and 2021. The current seller has funded the development of the recently completed Building No. 6 with a $ 4.5 million construction loan. South Side Bank, Commercial Edge data shows.
The Harris Ridge Business Center features dock height and rear loading doors, a clear height of 24-32 feet, a heavy truck court, and an ESFR sprinkler system. The tenant list includes Intelligent Logistics, LSO / Lone Star Overnight, Formaspace and more.
Industrial assets are less than two miles from Interstate 35 and approximately seven miles from Austin Executive Airport and State Highway 130. Samsang Austin Semiconductor is located approximately 4 miles southeast of the property and has other notable tenants in the city’s northeastern submarket, such as Dell Technologies. General Motors, within 3.2 km (2 miles).
Growing demand for Austin’s industrial space
While some high-profile projects are rapidly fueling Austin expansionIndustrial demand, including Tesla’s Gigafactory and large Google and Apple locations, is showing more than a promising sign. The industry is booming and the Sunbelt market is a top priority for many investors. According to a recent CBRE investor survey, Austin is the most coveted market in the United States, followed by Dallas / Fort Worth.
March, Universal Technical Institute Inc.teeth 100,000 square feet of space At CM Tech Ridge, another industrial campus owned by HPI. In August, Amazon leased a total of 315,000 square feet of delivery stations in 10,000 Decker Lane, less than eight miles from the Harris Ridge Business Center.
TA Realty Acquires Austin Industrial Park
https://www.commercialsearch.com/news/ta-realty-buys-austin-industrial-park/ TA Realty Acquires Austin Industrial Park