This 100-plus acre field in Pflugerville's outskirts could soon be sprawling warehouse property. GOOGLE MAPS

Austin Business Journal reports, "Endeavor Real Estate Group plans to transform a large swath of land outside Austin into an industrial development.

The project is set to rise on more than 100 acres off State Highway 130 and Pecan Street in Pflugerville, according to several construction filings with the Texas Department of Licensing and Regulation. The number of buildings planned on the site and the total square footage of the project are unknown, but the filings indicate at least four buildings will be built, ranging from 132,214 to 186,415 square feet each. The buildings will be speculative warehouses, according to TDLR.

Endeavor did not provide comment on the project. It should be noted that information found on TDLR filings are preliminary in nature and subject to change throughout the development process.

If the Austin-based developer moves forward with its plans, it would only add more industrial space to a white-hot market. As far as new industrial developments go, production is only slightly down from this time last year. There was 17 million square feet of industrial space under construction in the third quarter of 2023, on top of eight million square feet of space that’s already been delivered this year, according to commercial real estate firm Partners.

And manufacturers such as Tesla Inc. and Samsung Electronics Co. Ltd. have already drawn plenty of business to the area. Endeavor's project is about 15 miles north along SH 130 of Tesla's electric vehicle manufacturing plant.

The listed owner of the property is B9 Pecan Owner LP, according to TDLR. That entity shares an office in downtown’s IBC Bank Plaza with Endeavor, according to property records.

The industrial development’s exact planned location is on 104.4 acres at Cameron Road and Pecan Street, across the highway from the Pecan 130 business park. Construction on the project is expected to begin Jan. 15, 2024, and complete Dec. 31, 2024, according to the filings. Method Architecture is listed as project designer.

Pflugerville City Council in 2021 approved the property be rezoned from urban and urban center zoning to a campus industrial district to facilitate commercial and industrial uses.

The project, though certainly large, would be a relative drop in the bucket for Austin's industrial sector that is seeing near-record levels of construction. Though vacancy rates tick upward as more developments come online, industrial space remains in high demand. Metro-wide vacancy was 8.2% in the third quarter of 2023, according to Partners, which expects that figure to rise to roughly 10% in fourth quarter as more industrial projects are completed.

The State Highway 130 corridor, where Endeavor's project would rise, has been the site of much of Austin's industrial development in recent years. Incoming development in the area includes plans from MIC Texas Corp. to build over 408,000 square feet of warehouse space, Stream Realty's plans to build more than 376,000 square feet of industrial space and Stoneridge Capital Partners' plans to develop a nearly 453,700-square-foot project off state highways 71 and 130.

While Endeavor is primarily known for its office, multifamily and retail investments — its online portfolio lists 71 office and 10 multifamily properties in the Austin area — the firm does have four smaller industrial properties in North Austin and one in Southeast Austin.

Endeavor is largely known as the company that brought Austin the Southpark Meadows shopping center in South Austin and the towering development on the north side — The Domain — many now call Austin's second downtown.

Recently, Endeavor has been as the driving force behind redevelopment of the former headquarters of the Austin American-Statesman and East Austin's Borden Dairy plant. Both developments are planned to have thousands of residences and hotel, retail and office space."


Source: Austin Business Journal

Written by: Cody Baird

Published: November 9, 2023


Posted by Grossman & Jones Group on


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