Trammell Crow Company Breaks Ground on Final Phase of Development at Logistics Park in Southeast Austin
February 24, 2022
Park 183 Will Include More than 950,000 SF of Class A Industrial Space When Complete in Late 2022
Trammell Crow Company (TCC), one of the nation’s largest commercial real estate developers, has broken ground on the fourth phase of construction at Park 183. The final phase of the Southeast Austin logistics park will include 308,484 square feet across two buildings. Completion is slated for fourth quarter of 2022.
The two Class A industrial facilities within Park 183 Phase 4 are located at 4800 Distribution Drive and 7900 Industry Way. The buildings will span 160,327 square feet and 148,157 square feet and will feature depths of 210’, 32’ clear height and 50’ x 53’6” column spacing.
“The fourth and final phase of Park 183 will deliver more than 300,000 square feet of state-of-the-art logistics and last-mile distribution space to Southeast Austin, bringing the project’s total square footage to just shy of 1 million square feet,” said Brian Brooke of Trammell Crow Company’s Austin office. “We are pleased to deliver more logistics space to Austin, especially as demand for this type of space continues to grow, due to a continued surge in population growth and a concurrent increase in tenants’ desire to get ever-closer to their customers.”
Phase 4 of Park 183 has been designed by STG Design and LandDev Consulting, financed by Comerica Bank and Clarion Partners, and will be constructed by Tribble & Stephens. Darryl Dadon and Joe Novek of CBRE are handling leasing for the property.
Park 183 is a multi-phase industrial development totaling more than 950,000 square feet that is being developed by TCC and Clarion Partners. Phase 1 was delivered in January 2018 and included 250,000 square feet of industrial space across two buildings. Phase 2 consisted of a build-to-suit property for a multinational delivery services company, which includes 85,000 square feet and became operational in March 2020. Phase 3 of the project was completed in September of 2021 and includes 317,572 square feet across two buildings. The Park, not including Phase 4, is currently 100% occupied.
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.
Trammell Crow Company
Trammell Crow Company (TCC) is a global commercial real estate developer and wholly-owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of September 30, 2023, TCC had $15.4 billion of projects in process and $14.5 billion in its pipeline. It employs 650 professionals in 28 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial/logistics, healthcare, life sciences and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.