AUSTIN — Ridge, the industrial development division of Transwestern Development, has commenced construction on a 350,000-square-foot speculative industrial project in southeast Austin.
The development will consist of three buildings and is scheduled for completion in late 2017. It will be situated in the Southpark Commerce Center, near the intersection of Interstate 35 and State Highway 71.
Southpark Commerce Center is approximately four miles from downtown Austin and about 75 miles from San Antonio. When finished, the park will encompass roughly 2.3 million square feet of industrial space.
Transwestern Development’s Ty Puckett and Josh Delk led the development of the park’s existing 1.6 million square feet on the site that was once the Barkley Family Farm. Current tenants at Southpark include AT&T, Life Technologies Corp., Medline Industries, National Circuit Assembly, Sleep Experts and the Travis Association for the Blind. The Travis Association for the Blind has secured the only remaining parcel in the park for a 350,000-square-foot owner-occupied facility.
“Austin has consistently been a top performer nationally for job growth, and the industrial market continues to show strong fundamentals,” said Ben Newell, Senior Vice President at Ridge. “In the city’s Southeast submarket, recent absorption has largely been driven by preleased space or buyers acquiring projects during construction. Those trends give us confidence that now is the right time to develop speculative industrial space to meet future demand.”
June 5, 2017 Realty News Report Copyright 2017