Real Estate

Kroger Co. recently announced the opening of a 70,000-square-foot delivery service center in the Tuscany Logistics Center in Austin. The grocer signed a six-year lease for the space, which is part of a 373,648-square-foot development owned by Dallas-based Dalfen Industrial. Target and Diligent Deliver occupy the other two buildings at the Tuscany Logistics Center. This development comes as industrial news continues to develop in the Austin-Round Rock area, as seen in the Texas Quarterly Commercial Report from the Texas Real Estate Research Center.

Baranof Holdings has acquired a large self-storage facility in Austin. The facility, managed by REIT CubeSmart, contains 1,041 climate-controlled units with a total of 100,417 net rentable square feet. At the time of purchase, the facility was almost full, with a 90 percent occupancy rate. The seller was KKR, who was represented by CBRE. This news comes at the same time as the latest Texas Quarterly Commercial Report, which offers insight into retail news in the Austin-Round Rock area.

Stream Realty Partners is nearing the completion of Howard 130, an expansive 376,380-square foot industrial project in Austin. The project, which is situated on 29 acres between Interstate 35 and State Highway 130, consists of three separate buildings ranging in size from 94,400 to 197,980 square feet. It is expected to be finished in the second quarter of this year. The Austin-Round Rock area of Texas has seen a large amount of industrial growth and development recently, as detailed in the Texas Quarterly Commercial Report.

Stream Realty Partners has broken ground on Eastside Commerce Center, a 413,388-square-foot industrial development in Austin. The 60.2-acre site will feature seven buildings with sizes ranging from 26,440 to 109,572 square feet and 28- to 32-foot clear heights. Additionally, the project will include 630 parking spaces and is expected to be completed by the first quarter of 2024. This news follows reports from the Texas Real Estate Research Center that indicate a steady increase of industrial activity in the Austin-Round Rock area.

Oak Hill Self Storage, a 93,813 net rentable square foot facility comprised mainly of climate-controlled units, has been acquired by REIT Extra Space Storage. JLL acted on behalf of the selling entity, The Jenkins Organization. Austin-Round Rock has seen a recent surge in industrial news, as detailed in the Texas Quarterly Commercial Report. Local retail news was also reported through REBusiness Online.

On June 1, Hines is set to begin construction of Four Seasons Private Residences Lake Austin, a luxury community boasting 179 units across six buildings. Those looking to purchase a unit will be able to choose from a selection of 1,900-square-foot pieds-à-terres to 3,000-square-foot penthouses, with prices starting from $4 million.

Residents can look forward to a myriad of amenities, such as an athletic center, spa, private restaurant, pool, indoor basketball court, two golf simulators, and four pickleball courts. This $830 million development is expected to be complete by the end of 2026.