The 401,000-sf development will take up 34 acres at the intersection of Burleson and Smith School roads. The park is being developed by Dallas-based TIG Real Estate Services, Brock Consulting Group Inc. of Austin and Boston-based GID Investment Advisors LLC. Robert Karp, GID's senior vice president, says the companies' management complements each other well. Additionally, GID's management liked the Southeast Austin market's prospects.
"There have been significant highway improvements in the southeast market, which at this time will benefit the Burleson Business Park location," Karp tells GlobeSt.com. "Improved access to this submarket, as well as its proximity to the airport, means it's poised to become an active area for flex and light distribution space."
The park's second phase will be a 75,000-sf building. Its construction start hinges on how fast the first phase leases up, Karp says.
Stan Ford, principal for TIG in Austin, says Burleson Business Park is still in site-work stage, but "we've already received several inquiries with target occupancy dates that fit well with the timing of our inquiry." He adds similar flex and light-industrial developments in the submarket have been filling up, so that bodes well for the spec park.
Thomas Pardee, who recently joined TIG as senior vice president for Austin operations, will lease the project. The architect is Bryan Euwer & Associates of Austin. The Cadence McShane Corp. is the general contractor.
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