The Austin office of Trammell Crow Company (TCC), along with JV partner Clarion, announced the completion of 8233 Industry Way, an 85,000-square-foot Class A distribution and sorting facility in Austin, Texas. The facility, which sits on 13 acres of land, was a build-to-suit development for FedEx Express. The FedEx facility is now operational as of early March.
The new building is located within Park 183 and marks the completion of the second phase of development at the industrial park, which broke ground on its first phase in 2017. Park 183 currently consists of three buildings, totaling over 330,000 square feet of class A industrial space. FedEx joins a growing list of distribution, manufacturing and ecommerce clients that occupy space at Park 183, including Home Trends and Design, American Canning Company and Architectural Division 8.
“This project’s strategic location at the corner of Burleson Road and US-183 in the Southeast Submarket of Austin provides unparalleled access to the heart of central Austin, which is only eight miles away,” said Matteo Pacifici, a senior vice president with TCC. “The larger Park 183 development is meeting the growing demand for space from industrial users in Austin, especially advanced logistics space in this particular submarket of the city.”
The third phase of development at Park 183 calls for construction of two more buildings totaling 300,000 square feet. Phase III is on track to be completed during Q3 2021, with all major infrastructure work finished in conjunction with the completion of the FedEx facility. Twenty acres of developable land also remain available at Park 183 for another build-to-suit project, which could deliver an additional 300,000 square feet of industrial product to the area.
Park 183 is well-located in the Southeast Submarket, less than two miles from SH 71 and in proximity to major transportation arteries, including IH 35 and SH 130. Tenants at the park benefit from 183 South, which connects US-290 to SH 71 with uninterrupted freeway from southeast Austin to far Northwest Austin. The site, which sits adjacent to Austin Bergstrom International Airport, is located within the Triple Freeport Exemption Zone.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired 2,700 buildings valued at nearly $65 billion and over 590 million square feet. As of September 30, 2020, TCC had $14.8 billion of projects in process and $5.9 billion in its pipeline. It employs more than 550 professionals in the United States and the United Kingdom.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 18 major cities throughout the United States and London. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed-use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet the needs of its clients. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development and providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2019 revenue).
