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Brookfield Properties announced that two Austin area developments, Tuscany Crossing Business Park and Northgate 35 Logistics Center, have broken ground. With a U.S. portfolio of over 60M square feet, these projects are the company’s first ground-up logistics developments in the Austin metro.
Tuscany Crossing Business Park is a four-building, 329,627-square-foot industrial park located in Northeast Austin at 8501 Wall Street. The site is just two miles east of IH-35 and offers easy access to major Austin thoroughfares, including IH-35, US-183, and US-290. The park will consist of four rear-load, LEED-certified Class A buildings. Tuscany Crossing Business Park is expected to deliver in the second quarter of 2024.
“Tuscany Crossing will be a Class A development located in a Class A industrial submarket that is a prime location for logistics and distribution-oriented companies. This submarket is also very attractive to companies working with Tesla and the semiconductor industry. With four distinct building sizes, Tuscany Crossing will be attractive to various tenant sizes and uses,” said Blake Patterson, Senior Vice President at AQUILA Commercial.
Northgate 35 Logistics Center is a single-building, LEED-certified Class A industrial development. The building comprises 145,454 square feet, including a 3,303-square-foot spec office suite. The property located at 16235 N. IH-35 in Pflugerville is expected to deliver in April 2024.
“We are pleased to bring two well-located LEED-certified projects to the Austin market where tenant demand for first-class logistics facilities continues to expand to support population growth,” said Ryan Soule, Vice President, Asset Management for Brookfield Properties.
Blake Patterson and Omar Nasser with AQUILA Commercial will handle the leasing for both projects.
Brookfield Properties is a global real estate services company providing industry-leading development and portfolio management capabilities across the real estate investment strategies of Brookfield Asset Management – a global alternative asset manager with approximately $800 billion in assets under management. Over the past twelve months, we have added over $1.6 billion of logistics properties to our U.S. portfolio, which now includes 32 million square feet, an additional 28 million square feet under development, and more than 300 properties.
Founded in 2007, AQUILA Commercial is a recognized leader in Austin commercial real estate. Today AQUILA manages and leases over 23 million square feet of office, industrial and retail properties and has over 600 corporate tenant representation clients. AQUILA offers clients full-service real estate solutions, providing tenant representation, project leasing, and asset, property, and project management services for office, industrial and retail properties. For more information, visit: www.aquilacommercial.com.