US-based real estate company Brookfield Properties has added Park 290, a 68-acre development site in Austin, Texas to its logistics portfolio in the US.
The company is planning to develop a Class-A logistics park totalling 826,000ft2 in Austin’s Northeast submarket.
The project will be developed in two phases and will include four distribution buildings that will include 28-36’ clear heights and flexible divisibility.
It will also feature ample car and trailer parking which will accommodate tenants from 30,000 to 315,000ft2.
Brookfield Properties said that the Park 290 will provide the users with modern building features, access to an extensive labour pool and access to Highway 290.
Until the commencement of construction in the second half of 2021, the project site will be available for build-to-suit users.
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Brookfield Properties Development vice president Connor Tamlyn said: “We are thrilled to continue the growth of our development platform in the dynamic Austin market.
“The vibrant economy and rapidly growing population provide an attractive opportunity to serve a diverse and growing tenant base.”
Last month, the real estate company has secured development approval for the construction of two towers – a 58 storey building and a 21-storey tower in Perth, Australia.
The project, located at Perth’s landmark waterfront precinct, is estimated to create 2,500 jobs during the construction phase that will support Western Australia’s Covid-19 economic recovery.
To be developed on Lots 5 and 6 at Elizabeth Quay, the two towers have been designed by New York-based architects Rex in consultation with local firm Hassell.
Brookfield Properties to build logistics park in Texas, US. (Credit: Brookfield Properties.)