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Logistics Operator Grabs Space in Increasingly Popular Southeast Submarket

AUSTIN-A state capital-based logistics provider sees the need to be in the southeast submarket, which is piquing the interest of tenants and developers. MSAS N. American Logistics reportedly is the first tenant in the newly completed 150,000 sf Expo VII.

By Connie Gore | Updated on February 22, 2001

AUSTIN-The city’s southeast submarket has lured another logistics company to its fold. MSAS N. American Logistics is taking 24,044 of industrial space in a five-year lease for the 150,000-sf Expo VII in the Expo Distribution Center. The signing reportedly heralds the first tenant for Trammell Crow Co.’s newly completed building at 6031 Stassney Lane.

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.

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