FexEx Corp. has leased 85,000 square feet in the second phase of Park 183, a Southeast Austin industrial park.
Phase two of the 900,000-square-foot industrial park is made up of seven class A industrial buildings, at the intersection of Burleson Road and U.S. Highway 183. FexEx has completely leased one of those buildings, according to an April 16 announcement from Dallas-based Trammell Crow Co., which is developing the project with Clarion Partners LLC, a New York-based real estate investment manager.
Construction is slated for completion in the fourth quarter of 2019.
“Park 183 represents the single best multi-phase business park opportunity in Southeast Austin, one of Austin’s preferred submarkets and one in which TCC and Clarion Partners have enjoyed continued success as a leading owner/developer,” Alejandro Cuadros, vice president with Clarion Partners, said in a statement.
FedEx Express will operate a customer service center and delivery facility at the new location. The company is moving out of a 36,154-square-foot facility at 5811 Technicenter Drive; the expanded space will allow for increased operations, according to the company. The former facility only had capacity for 56 vans while the new one will have the capacity for 100.
The new facility is equipped with a refrigerated storage area that will allow FedEx (NYSE: FDX) to receive perishable, pharmaceutical and other high-value shipments, according to the announcement. The new location will allow allow easier access to the majority of the service area by being located just southwest of Austin-Bergstrom International Airport.
South Austin is leading the metro in development of industrial space in the market, according to a first quarter report from CBRE. More than 400,000 square feet are under construction in Southeast Austin and 740,000 square feet of industrial space are under construction in Hays County.
In the Austin metro area as a whole, 13 projects totaling 1.56 million square feet are under construction, according to the report.
“We are thrilled to welcome FedEx to the growing roster of first-class users who have chosen to locate at Park 183, and pleased to launch the next phase of development at the park, which will deliver all remaining roads and site infrastructure needed for future buildings," Matteo Pacifici, vice president in Austin for Trammell Crow, stated in a statement.
The design team for phase two of Park 183 includes Five South Architecture, Stantec, KLH Engineers and Bihner Chin Engineering Ltd. Leasing was handled by John Barksdale and Darryl Dadon of CBRE and Dale Clemments of Fischer & Company.
Another 300,000 square feet of industrial space, divided into two buildings, are planned for the third phase of the park, according to Trammell Crow. Design of the buildings has been completed and permits have been submitted to the city of Austin for approval.
Construction on the third phase is scheduled to begin in the second quarter of 2019 for delivery in the first quarter of 2020. The buildings will feature “generous clear heights, excellent truck access and loading, along with expansive glass and a clean modern aesthetic,” Trammell Crow said in the announcement.