Historically, the southeast submarket has been softer, pockmarked by higher vacancies than the rest of the region, Charlie Hill, principal of Colliers Oxford Commercial in Austin, tells GlobeSt.com. That is changing as more logistics operators, such as MSAS, are drawn by definite benefits of being located close to the new Austin-Bergstrom International Airport. Several large-scale industrial developments are situated in the corridor and more most likely will follow.

Austin, like Dallas, is experiencing a dramatic surge in its industrial market, so much so that the state capital's southeast submarket could see the addition of more than a million sf possibly by year's end if park owners, such as Trammell Crow and Transwestern follow, through on plans, says Hill. "Developers are anticipating continued growth and the airport is going to assist them in their leasing," he tels GlobeSt.com. Overall, Austin's industrial vacancy is riding at just 4% to 6%. The going rate in the southeast submarket is 50 cents per sf triple net.

MSAS will be moving into Expo VII within the next 30 to 60 days. The lease is the second in recent months that Hill has cut for MSAS. The company also occupies 50,000 sf at Grand Avenue Parkway in an Industrial Properties Co. structure in north Austin. MSAS has merged in recent months with Austin-based Exel Logistics, which has several divisions at various sites throughout the city. And, hints Hill, there's a chance that more space will be needed in the near future.