(Read more on the industrial market.)

AUSTIN-Vintage Interests LP has just closed on the 201,594-sf Pecan Business Park, pushing its investments in the state to $85 million in two years. The Dallas-based investment group has acquired the six-building park in the southeastern submarket from a local partnership.

Assets similar to Pecan Business Park at 3913 Todd Lane have sold for $60 per sf. Rusty Perry, founder and managing partner of Vintage, says the 24-year-old buildings, sold by Pecan Business Park Ltd., fit well into the company's investment parameters. Pecan Business Park, situated on 7.8 acres, was 90% occupied at sale time.

"One of the things we liked about this is while you're starting to see larger tenant industrial buildings being developed that cater to larger users, there's really no new construction out there that accommodates smaller tenants like this," Perry tells GlobeSt.com. "The market's pretty tight. We feel that it's creating upward pressure on rental rates."