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Commercial
Austin

Blackstone unit adding to Austin industrial space

Link Logistics Real Estate now has about 6 million square feet and more than 70 properties in the Austin area

Link's Luke Petherbridge with 2100 S. AW Grimes Boulevard and 2200 Chisholm Trail (Link Logistics, Google Maps)
Link's Luke Petherbridge with 2100 S. AW Grimes Boulevard and 2200 Chisholm Trail (Link Logistics, Google Maps)

Blackstone’s Link Logistics Real Estate has been developing more than 1 million square feet of industrial space in the Texas capital city of Austin.

The company’s latest project is a three-building development totaling nearly 370,000 square feet. The future complex at 2100 S. AW Grimes Boulevard, totals $28.2 million in expected costs, according to the Austin Business Journal.

Building A is 138,715 square feet, Building B is 126,240 square feet, and Building C is 103,250 square feet, according to March 28 filings with the Texas Department of Licensing and Regulation. All three were described as “one-story, cold, dark shell” developments.

The Grimes Boulevard development is set to break ground in June, which will make for a busy summer as Link is also expected to break ground on its Settlers Grove project in May. The 631,000-square-foot industrial warehouse development at 2200 Chisholm Trail will cost around $38 million.

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In the fourth quarter, Austin’s industrial vacancy rate fell to 4 percent – the second-lowest recorded, according to NAI Partners. That was a 4.8 percent drop from the previous quarter and a 7.1 percent drop from the same quarter of 2020.

The Georgetown/Round Rock submarket had a slightly higher vacancy rate at 6.8 percent. In the fourth quarter, the area offered an average monthly asking rent of $0.73 per square foot compared to the greater metro average of $0.98 per square foot, according to NAI partners.

At the end of 2021, Link reported having a stake in or properties under development totaling 534 million square feet, with about 98 percent of it leased, and that it has expanded its development pipeline to $7.1 billion.

Established in 2019 to bring online warehouses and bolster supply chains, Link Logistics has about 6 million square feet and more than 70 properties in the Austin area, according to its website. Notable projects include the 468,405-square-foot Southpark Commerce Center in South Austin and the 564,080-square-foot Northeast Crossing in Manor, where tenants include electric and solar suppliers and packaging and paper products suppliers.

[ABJ] – Maddy Sperling

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BlackstoneIndustrial Real Estate