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Ryder Packages 90,000-SF Lease for Logistics Contract

AUSTIN-Ryder Systems leases industrial space in Tech Ridge for its longtime customer, Applied Materials. The 290,578-sf building is 50% leased with the new deal, which puts Ryder in control of 288,000 sf in Austin.

By Tim Green | Updated on January 21, 2003

AUSTIN-Ryder Systems Inc. has taken a 90,000-sf lease in Gottesman Co.’s Tech Ridge business park to help manage a client’s logistics. Ryder joins Chick Packaging in building one of the project’s fourth phase, a 290,758-sf structure that’s now 50% leased.

Ryder, based in Miami, conducts supply chain operations for the Austin manufacturing facilities of Santa Clara, CA-based Applied Materials Inc., the world’s biggest maker of equipment for making semiconductors. Overall, Ryder manages 288,000 sf of industrial space in Austin for staging delivery of parts to Applied Materials’ operations. Ryder manages an inventory of 40,000 parts and coordinates and picks up components from suppliers and warehouses them until time for delivery.

The lease kicks off 2003 with a bang for Austin’s industrial market, which was battered in 2002 by wholesale contraction of technology companies. The market ended 2002 with a 15.4% vacancy rate and negative absorption of 1.2 million sf.

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