Austin light industrial park sells to Dogwood Industrial Properties

DALLAS, June 2, 2021 – JLL Capital Markets announced today that it has closed the sale of Pecan 130 Business Park, a two-building Class A multi-tenant light industrial park totaling 239,952 square feet in the Austin-area community of Pflugerville, Texas.

JLL marketed the property on behalf of the seller, Birtcher Anderson & Davis. The property was acquired by Dogwood Industrial Properties (Dogwood), a platform backed by TPG Real Estate Partners that acquires, owns, and operates high-quality, infill, multi-tenant industrial assets in strategic, growth-oriented metropolitan markets.

Situated on 15.373 acres at 3813A/B Helios Way in Pflugerville, Pecan 130 Business Park is in the heart of Austin’s Northeast industrial corridor just off Toll Road 130. This location provides tenants immediate access to the area’s major transportation arterials, including Interstate 35 and Highways 45, 290 and 183, and connectivity to central Texas.

“We entered the Austin market earlier this year and are pleased to expand our high-quality portfolio with the addition of Pecan 130 Business Park,” said David Sibley, Manager of Acquisitions at Dogwood.  “Dogwood’s footprint in Austin now spans more than 350 square feet across the city, which is considered one of the fastest-growing metro areas in the U.S.”

Pecan 130 Business Park was completed in 2013 and 2014 and is 85% leased to seven tenants. The freestanding buildings feature insulated storefront glass, clear heights ranging from 24 to 27 feet, 180-foot shared truck court, 40 dock-high doors, seven drive-in doors, ESFR fire protection and ample parking.

According to JLL Research’s Austin Industrial Insight - Q1 2021 report, the Austin Industrial market is off to a strong start this year and experiencing historical low vacancies. Additionally, direct average asking rates increased 8% year-over-year from the first quarter of 2020 to the first quarter of 2021. A robust base of tenants – life sciences companies, retailers, government contractors and manufacturing suppliers – looking to expand and relocate to Austin remains.

The JLL Industrial Capital Markets team that represented the seller was led by Senior Managing Director Dustin Volz, Senior Managing Director Trent Agnew, Managing Director Stephen Baily, Director Dom Espinosa and Analysts Wesley Gilmer and Josh Villarreal.

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