AUSTIN, TX—CBRE Group, Inc. coordinated the sale of three industrial/multi-tenant flex buildings – McKalla 2 and McNeil 8 & 9 – on behalf of Investors Warranty of America, Inc. to California-based PS Business Parks. The three buildings total approximately 226,398 square feet on 12.5 acres in North and Northwest Austin.
The three properties are located at 2500 McHale Court (McKalla 2) and 12301-12303 Technology Boulevard (McNeil 8 & 9), and are adjacent to parks currently owned by PS Business Parks.McKalla 2 is located in the North Submarket, while McNeil 8 & 9 are in the Northwest Submarket.
According to CBRE Research, the North Submarket is Austin's largest with more than 13 million square feet. Although flex product in the Northwest Submarket is only 1.7 million square feet, there is a tremendous amount of office activity near the subject property with companies like Apple and 3M just blocks away. Austin's industrial market experienced record leasing activity in 2012 with 2.1 million square feet of positive net absorption citywide.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
