Austin-area industrial project now fully leased

Oct 17, 2013
Austin Business Journal

One of the rare industrial projects under construction in the Austin market has been completed and sources say the project is 100 percent leased

Brokers at TIG Real Estate Services, the developer of Scottsdale Crossing at 5900 U.S. Highway 180A in Cedar Park, would not confirm the leasing status, but the Austin Industrial MarketView published by CBRE Group Inc. notes that the 27,500-square-foot building is 100 percent leased

The project was built by Cadence McShane Construction Co., which is based in Dallas but has an Austin office. The design was handled by Studio 8 architects of Austin

Cadence McShane is building the Apple Inc. campus in northwest Austin and has been picking up more local projects in recent months

The industrial market has grown very tight in Austin with few new developments constructed in the past five years. The third quarter vacancy rate was 10.7 percent city-wide, the lowest in 12 years, CBRE noted in its report

The north and east submarkets had the strongest performance in the third quarter. The north submarket posted 70,641 square feet of net absorption during the quarter and the east submarket posted 73,760 square feet of net absorption

The Far Northwest, South, Georgetown and Hays County submarkets are particularly tight, all with less than 5 percent vacancy

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