Jones Lang LaSalle, Inc. (“JLL”) has been exclusively retained to offer qualified investors the opportunity to acquire SouthPark Commerce Center (the “Property”), a Class A industrial park located in an unparalleled infill location within the high-growth Austin market. The Property is comprised of four buildings totaling 372,623 square feet of light industrial and warehouse space. Located inside one of the premier business parks in the Austin market in SouthPark Commerce Business Park, the Property features an irreplaceable infill location proximate to Austin’s urban core and prominent demand drivers while providing unbeatable accessibility to the region given the asset’s location at the intersection of Interstate 35 and US Highway 71. 100%-leased since 2015, SouthPark Commerce Center is home to a diverse mix of national and regional credit tenants who average more than 15 years of occupancy tenure at the Property and have a history of significant capital investment into their space, signaling the in-place tenancy’s commitment to SouthPark Commerce Center. The Property’s rent roll features a weighted average remaining lease term of 4.4 years and in-place rental rates approximately 13% below market, providing a compelling mark-to-market opportunity in a highly sought-after industrial submarket that has averaged 4.5% rent growth over the last decade. SouthPark Commerce Center presents a rare opportunity to acquire a Class A industrial park featuring a diverse tenant roster that is reflective of Austin’s nation-leading economy.
SouthPark Commerce Business Park (Phases I-V) is the premier business park in South Austin as it’s position at the confluence of Interstate 35 and Highway 71 is the gateway into Austin’s most dense residential areas and the rapidly growing Austin-San Antonio IH-35 Corridor. Developed in 1998 by Transwestern, SouthPark Commerce Center features institutional quality construction with highly functional Class A configurations for industrial users. The Property is comprised of four rear-load buildings able to accommodate a variety of operations ranging from bulk distribution to office, showroom, and more specialized uses.
- 372,763 SF
- 4.4 Years Weighted Avg Lease Term
- 100% Occupancy
- Year Built 1998
- 24' Clear Height
- 36% Office Finish