Development Updates in Austin:
The demand for industrial space in Texas continues to spark new real estate development across the state, partially driven by large corporate moves from companies like Tesla and Samsung. Now, several industrial projects are slated for delivery in the Austin real estate market.
Here are the development updates to keep an eye on:
EastGroup reveals plans in Leander
Mississippi based developer EastGroup Properties is planning to construct a 600,000-square-foot industrial facility in Leander, a suburb of Austin, Texas. Heritage Grove is slated to begin construction later this year with an initial phase of 183,000 square feet expected in 2025, and will offer multi-tenant spaces ranging from 15,000 to 100,000 square feet. The decision to invest in Leander reflects EastGroup’s focus on high-growth suburban markets and is driven by the city’s population density and strategic location with convenient access to Austin.
Hines breaks ground on first industrial project in Austin
Hines is launching the Bluebonnet Business Center in Austin, a Class-A industrial development spread across four buildings totaling roughly 680,000 square feet. The property aims to capitalize on Austin’s strong leasing activity and strategic location. With Powers Brown Architecture handling design and Burton Construction as the General Contractor, leasing for the project will be managed by a team led by Leigh Ellis from AQUILA Commercial, with delivery scheduled for Q4 2024.
Balcones active in San Marcos and Lockhart
Local developer Balcones Real Estate Group is embarking on two new industrial projects in San Marcos and Lockhart. The San Marcos project will feature a 99,400-square-foot building on a 9-acre tract, while Lockhart Logistics will comprise a 58,800-square-foot hub adjacent to the Ziegenfelder Co. factory. These projects contribute to Austin’s robust industrial development scene, with Balcones aiming for April groundbreaking for 500 Wonder World and a summer start for Lockhart Logistics, both designed by GMA and constructed by ARCO/Murray.
