JLL Capital Markets has closed the sale of Innovation Business Park I & II, a two-building, Class-A industrial park consisting of 361,467 square feet of logistics space in Hutto, Texas, near Austin.
JLL marketed the property on behalf of the sellers, Ledo Capital Group and St. Clair Commercial Real Estate. CenterPoint Properties acquired the asset. Additionally, JLL will continue to lead leasing efforts for the project on behalf of the buyer.
Built in 2019 and 2020, the property is currently leased to Western Industries, Three Way Logistics and Barnsco. The buildings feature clear heights ranging from 30 to 32 feet, 96 dock-high doors, a shared 200-foot-deep truck court, 536 parking spaces, an ESFR sprinkler systems and concrete tilt-wall construction.
Located at 1050 and 1070 New Technology Boulevard, the park is situated at the northeast corner of the US Highway 130 and State Highway 79 intersection and is proximate to State Highway 45 and Interstate 35, providing tenants convenient north-south and east-west connectivity. The location offers access to Austin’s fast-growing population hubs, including Hutto, Pflugerville, Round Rock, Cedar Park and Georgetown. Additionally, the park is just eight miles from the recently announced Samsung North American Chip Plant in Taylor, Texas.
The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Trent Agnew, Dustin Volz, Dom Espinosa, Josh Villarreal and Matthew Barge.
The JLL Leasing team responsible for leasing the project consisted of Ace Schlameus and Kyle McCulloch.