Three-building industrial park near Austin sells
JLL Capital Markets closed the sale of the Class AA Buda Midway Phase I in Buda, TX
DALLAS, October 4, 2022 – JLL Capital Markets announced today that it has closed the sale of Buda Midway Phase I, a three-building, 474,465-square foot, Class AA industrial park in Buda, Texas.
JLL represented the seller, a joint venture between United Properties and PCCP, LLC, in the sale.
The recently delivered buildings were 100% pre-leased to CED Greentech, Sherri Hill and Four Hands. The buildings make up Phase I of a two-phase industrial park. Buda Midway Phase I is comprised of two rear-load and one cross-dock buildings offering 30-36’ clear heights, 138 dock doors, 60 trailer parking spaces and 678 parking spaces. Phase II of Buda Midway will include four rear-load buildings totaling nearly 390,000 square feet and Building 1 is set for completion in spring 2023.
Situated on 35.29 acres at 1795 Fire Cracker Dr., Buda Midway Phase I is located at the crossroads of State Highway 45 and Interstate 35, one of the region’s most vital north/south thoroughfares that connects Mexico to Austin-San Antonio and Dallas-Fort Worth and beyond to the North Central region of the U.S. As a result, the property has quick access to SH-71 and US Highway 130. The Central Texas location offers tenants the ability to travel to each of the four major Texas markets within three hours or less in addition to nearly five million residents within an hour’s drive of Buda Midway. In addition, the property is located 17 miles from Austin-Bergstrom International Airport and 61 miles from San Antonio International Airport.
The JLL Capital Markets Industrial team representing the seller was led by Senior Managing Directors Trent Agnew and Dustin Volz, Directors Dom Espinosa, Associate Josh Villarreal and Analyst Megan Babovec.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About United Properties
United Properties has been creating deep roots in the commercial real estate industry for more than 100 years. The company imagines new possibilities in real estate to help enrich communities and create lasting legacies. United Properties provides market expertise for ground-up development, redevelopment and acquisitions of value-add and stable investments. The company invests in and develops office, industrial, retail, mixed-use and senior housing properties. United Properties is owned by the Pohlad Companies and is headquartered in Minneapolis, with offices in Denver and Austin, Texas. For more information, visit www.uproperties.com and follow on Twitter, LinkedIn and Instagram.
About PCCP, LLC
PCCP, LLC is a real estate finance and investment management firm focused on commercial real estate debt and equity investments. PCCP has $20.1 billion in assets under management on behalf of institutional investors. With offices in New York, San Francisco, Atlanta, and Los Angeles, PCCP has a 24-year track record of providing real estate owners and investors with a broad range of funding options to meet capital requirements. PCCP underwrites the entire capital stack to exploit inefficiencies in the market and provide investors with attractive risk-adjusted returns. Since its inception in 1998, PCCP has managed, raised or invested over $35.0 billion of capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures. PCCP continues to seek investment opportunities with experienced operators seeking fast and reliable capital. Learn more about PCCP at www.pccpllc.com.