A New York firm is teaming up with a Houston developer to build an industrial and logistics park in Northeast Austin.
Houston-based Hines formed a joint venture with New York-based Galesi Group to develop 1.7 million square feet of logistics and industrial space on a 150-acre site at 6400 East Parmer Lane in Manor, the Austin Business Journal reported.
Galesi owns hundreds of acres in the surrounding Harris Branch area and plans to develop the land.
“The partnership allows us to expand our industrial footprint in Austin in a meaningful way and offers tenants a large-scale, master planned business park in Austin,” Laura Denkler, managing director at Hines, told the outlet. “Demand for industrial space in Austin remains high, and our first phase is already in design and able to accommodate tenants ranging from 30,000-150,000 square feet.”
Three Class A industrial warehouses totaling 315,000 square feet comprise the first phase of the business park development. The firm doesn’t have a strict timetable for the project, rather it will “periodically evaluate” Austin’s industrial market to decide when to proceed with the later portions, said Ryan Buicko with Galesi.
The business park will be about 2 miles from Samsung Austin Semiconductor’s factory, 12 miles from the Tesla gigafactory and 25 miles from the $17 billion Samsung semiconductor plant under construction in Taylor.
Houston’s Powers Brown Architecture is designing the first phase of the project. Hines and Galesi haven’t selected a general contractor or listing agent for the property.
Galesi, which purchased the Manor land back in 1996, plans to develop hundreds of apartments in the Harris Branch planned unit development. The firm broke ground on the 300-unit Hillside on Parmer apartment complex back in March.
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Residential
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