A class-A logistics park is set to be built in Texas, US. Known as, Park 290, the 68-acre development will be located in Austin, Texas. Located in Austin’s Northeast submarket, the Class-A logistics park will occupy 826,000 square feet. The two-phase development will include four LEED certified distribution buildings featuring 28-36’ clear heights, flexible divisibility, and ample car and trailer parking to accommodate tenants from 30,000 to 315,000 square feet.
Park 290 provides users with modern building features, access to an extensive labor pool, excellent visibility and access to Highway 290. The site will be available for build-to-suit users until construction commences in the second half of 2021.
According to Connor Tamlyn, Brookfield Properties Vice President in charge of development, the vibrant economy and rapidly growing population provide an attractive opportunity to serve a diverse and growing tenant base. “We are thrilled to continue the growth of our development platform in the dynamic Austin market,” he added.
Austin is a target market for Brookfield Properties’ logistics platform, with a wide ranging interest including ground-up development, building acquisitions and portfolio opportunities.
Brookfield Properties is a fully integrated, global real estate services company, providing industry-leading development and portfolio management capabilities across the real estate
investment strategies of Brookfield Asset Management – a global alternative asset manager with approximately $550 billion in assets under management. Over the past twelve months, we have added over US $1.4bn of Logistics properties to our U.S. portfolio.