Up to 10 companies currently are vying for the chance to warehouse Dell parts. By the first week of April, that list could be narrowed to three or four finalists. Once the vendor contract is awarded, it could mean a lease of between 400,000 sf and 600,000 sf of industrial warehouse space, says principal Charlie Hill of Colliers Oxford Commercial Real Estate, which represents the new Tuscany Way.
Hill says Austin offers only a handful of sites that could accommodate the kind of contract that Dell is going to offer. And, Hill says the contract is a sign that the Austin industrial market still is healthy.
"That's going to be a pretty good chunk of space for this market," Hill tells GlobeSt.com "Despite the recently uncertainty in the stock market, Applied Material and Dell are still driving the industrial market."
Hill says the interest in industrial space in Austin is still healthy. Three Way Inc. just yesterday had moved into 100,933 sf of space in McShane Corp.'s new nine-story Tuscany Center at Walnut Creek. Three Way had been occupying 85,000 sf at Bergstrom Technology Center.
Hill says Colliers Oxford has strong demand for another 80,000 sf of space in the Tuscany Way project, which will eventually offer 230,000 sf of industrial space in its first phase of construction. The final build-out will be a 52-acre, 650,000-sf facility to serve north and northeast Austin.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
