"This is the first major industrial development we've done since the late 1980s," Gail O'Connor, vice president of industrial property management and leasing, tells GlobeSt.com. The project, though in its preliminary stages, is expected to break ground in the spring, with delivery of the first structure--containing several hundred thousand sf--is eing planned for fall 2001.
O'Connor says the company presently is busy securing permits for the development and working on site plans. Tentatively called "Scarbrough," the industrial park will be developed in three phases, with full buildout anticipated to take five years. To date, none of the buildings have been designed, says O'Connor, whose company will handle construction.
"It was a brilliant move by Trammell Crow," Joyce Jane Weedman, land specialist for NAI/Commercial Industrial Properties' Austin office, tells GlobeSt.com. "It's desperately needed in Austin and there couldn't be a better location for flex and distribution space in North Austin."
Weedman handled the recent property sale on behalf of the selling entity, Lemuel Scarbrough Jr., trustee of Lemuel, trustee of Nancy S. Garrison GST Trust. Trammell Crow represented the buyer, Crow Family Holdings Industrial Texas Ltd. Partnership.
Weedman says there is only one more large tract of land available in the prime development area--and she's marketing that 45-acre site as well. Both large parcels abut Interstate 35, a heavily traveled NAFTA route connecting Mexico to the Canadian border. "It is the backbone of Austin," explains Weedwood.
The Scarbrough Tract is situated south of a 400-acre manufacturing site belonging to Dell Computer and north of the computer giant's corporate headquarters. It also is located in a corridor that is home to many of Austin's major employers.
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