Two-building industrial park in Austin MSA sells
JLL Capital Markets closed the sale of the 361,467-square-foot facility to CenterPoint Properties
DALLAS, April 27, 2022 – JLL Capital Markets announced today that it closed the sale of Innovation Business Park I & II, a two-building, Class A industrial park consisting of 361,467 square feet of logistics space in Hutto, Texas, near Austin.
JLL marketed the property on behalf of the sellers, Ledo Capital Group and St. Clair Commercial Real Estate. CenterPoint Properties acquired the asset. Additionally, JLL will continue to lead leasing efforts for the project on behalf of the buyer.
Built in 2019 and 2020, the property is currently leased to Western Industries, Three Way Logistics and Barnsco. The buildings feature clear heights ranging from 30 to 32 feet, 96 dock-high doors, a shared 200-foot-deep truck court, 536 parking spaces, an ESFR sprinkler systems and concrete tilt-wall construction.
Located at 1050 and 1070 New Technology Blvd., the park is situated at the northeast corner of the US Highway 130 and State Highway 79 intersection and is proximate to State Highway 45 and Interstate 35, providing tenants convenient north-south and east-west connectivity. The location offers access to Austin’s fast-growing population hubs, including Hutto, Pflugerville, Round Rock, Cedar Park and Georgetown. Additionally, the park is just eight miles from the recently announced Samsung North American Chip Plant in Taylor, Texas.
The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Trent Agnew, Dustin Volz, Dom Espinosa, Josh Villarreal and Matthew Barge.
The JLL Leasing team responsible for leasing the project consisted of Ace Schlameus and Kyle McCulloch.
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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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 98,000 as of December 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Ledo Capital Group
Ledo Capital Group (“LCG”) was founded by Anthony J. Brent & Ryan Martin who act as the primary managing partners for the firm. LCG is a diversified investment company throughout the Southern California, Texas and other select markets that includes a unique capital platform that contributes both private and institutional capital to operators, developers and real estate professionals in the joint venture capitalization of opportunistic and value add oriented projects. LCG focuses on the on the acquisition of industrial assets through the deployment of flexible capital structures with both GP & LP capital stack. With the capability to deliver any required expertise in the acquisition, development or repositioning of properties as well as any required asset management services, LCG partners can benefit significantly from these enhanced operational synergies. LCG raises capital through its private and institutional investors offering partners the ability to scale operations and focus on the acquisition side of the business, relying on the expertise of LCG to quickly underwrite and fund through its private capital fund. LCG’s capabilities include advisory services, where LCG may leverage its relationships and deep track record with institutional capital as a potential source of the joint venture.
About St. Clair Commercial Real Estate
St. Clair Commercial Real Estate (“SCCR”) is a diversified real estate investment company that seeks opportunistic and value add projects in Southern California, Texas and other southwestern markets. SCCR focuses on the acquisition of industrial, office and multifamily assets. SCCR has established financial relationships that provide unparalleled access to both private and institutional capital, allowing the firm to pursue both smaller middle market properties, larger individual and portfolio acquisitions, and development projects.
About CenterPoint Properties
CenterPoint is an industrial real estate company made up of dedicated thinkers, innovators and leaders with the creativity and know-how to tackle the industry’s toughest challenges. And it’s those kinds of problems — the delicate, the complex, the seemingly impossible — that we relish most. Because with an agile team, substantial access to capital and industry-leading expertise, those are exactly the kinds of problems we’re built to solve. For more information on CenterPoint Properties, visit centerpoint.com and follow us on LinkedIn.