Park 183 Phase I

250,000 square feet of Class A industrial space consisting of two buildings.

Project Details

Location

Austin, Texas

Product Type

250,000-square-foot Class A industrial space, consisting of two buildings

Timeline

Project Start: March 2017
Project Completion: January 2018

Overview

Park 183 represents a phenomenal multi-phase business park opportunity in Southeast Austin, one of Austin’s preferred sub markets and one in which TCC and Clarion Partners have enjoyed perennial success as a leading owner/developer. Phase I consists of Buildings 1 & 2 (132,000 square feet and 118,000 square feet, respectively), and significant road, drainage and utility infrastructure for the overall park. Future phases of the park are expected to deliver nearly 700,000 square feet of additional industrial space over a staggered time frame as determined by market fundamentals.

Opportunity, Solutions & Outcomes

This site was sourced by the TCC team through months of coordination and the development of a strong relationship with the seller, a local family that has owned the site since 1902. Based upon TCC's knowledge of the area and the zoning patterns of surrounding sites, the project team recognized an opportunity for significant value creation at the site.

With an extremely attractive purchase price, an excellent location at the intersection of Burleson Road and U.S. 183 and a clear path to added value, the site was quickly confirmed as the ideal site for Southeast Austin’s next business park.