Plans Include Two Buildings Totaling 239,205 Square Feet of Class A Industrial Space
AUSTIN, TEXAS – Trammell Crow Company, in partnership with Clarion Partners, announce that construction has commenced on two new buildings in Expo Business Park Phase II, a Class A industrial development in Southeast Austin. This phase consists of two buildings totaling 239,205 square feet of warehouse, flex and manufacturing space. Expo 10 is comprised of 109,203 square feet and Expo 11, 130,002 square feet. Each building will feature 28’ clear height, generous column spacing and 24 dock-high doors per building. Expo 10 and 11 will be ready for occupancy in May 2015. A second phase will commence when market conditions warrant.
“Trammell Crow Company has been committed to this area since 1996, having delivered six buildings totaling more than 660,000 square feet; the majority of that in partnership with Clarion,” said Brad Maples, Vice President with Trammell Crow Company’s Austin Business Unit. “We are excited to once again deliver high-quality buildings with excellent access and best in market features to the park.”
Expo Business Park is comprised of 15.54 acres and is located at 6231 E. Stassney Lane, at the corner of Stassney Lane and Burleson Road in the newly established Triple Freeport Zone. The project sits near a variety of restaurants, entertainment venues and hotels and in very close proximity to Austin Bergstrom International Airport and downtown Austin.
Expo Business Park is one of several projects launched as part of the national industrial development program established by the TCC/Clarion Partners venture. The program is focused on the development of new Class A, industrial buildings in targeted markets throughout the United States. Since 2001, Trammell Crow Company and Clarion Partners have partnered together on over 110 developments totaling more than 28 million square feet and $1.6 billion in investment.
Mark Emerick, Senior Vice President, John Barksdale, First Vice President, Ace Schlameus, First Vice President and Associate Darryl Dadon with CBRE’s Austin office have been appointed the leasing agents for the project.
About Clarion Partners
Clarion Partners, founded in 1982, is a leading real estate investment management firm with $30.5 billion in total assets under management. The company has approximately 200 institutional clients invested through both comingled fund and separate account formats. The firm is distinguished by a performance-driven approach, organizational stability, and a mandate of accountability to its clients.
Clarion invests in high quality properties within the office, retail, industrial, multifamily, and hotel sectors. It employs a broad range of real estate strategies across the risk/return spectrum including core, core plus, value-add and opportunistic approaches. Clarion is an SEC-registered investment advisor and is based in New York City, NY. For more information, visit www.ClarionPartners.com.
About Trammell Crow Company
Trammell Crow Company, founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired nearly 2,600 buildings valued at nearly $60 billion and over 540 million square feet. As of September 30, 2014, Trammell Crow Company had $5.1 billion of projects in process and 2.9 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development, or providing incentive-based fee development services.
Trammell Crow Company is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). For more information visit www.TrammellCrow.com.
