Mohr Capital, the owner of MetCenter Buildings 12-15, a flex office and industrial campus totaling 244,800 square feet in Austin, has closed a lease extension and expansion totaling 116,000 square feet with Arrive Logistics. The tenant, a freight brokerage company, plans to add more than 1,000 employees over the next 12 months.
Arrive Logistics previously leased a 78,000-square-foot flex space in Buildings 14 and 15 and has now added another 38,000 square feet within Building 15 to its long-term occupancy. The new lease is set to expire in December 2031.
READ ALSO: Austin Accelerates to Full Velocity
MetCenter Buildings 12-15 last traded in 2019, when Zydeco Development sold the MetCenter mixed-use portfolio totaling 404,800 square feet to Mohr Capital. The current owner financed the acquisition with a loan funded by Prime Finance Partners, CommercialEdge data shows.
At the time of the acquisition, the portfolio also included MetCenter Building 3, an industrial warehouse totaling 160,000 square feet leased to Amazon and Uber Technologies. In May, Mohr Capital sold Building 3 along with the adjacent parking lot spanning 20 acres. The complex was fully occupied by Amazon when the transaction closed.
Located at 7701 Metropolis Drive, the four-building office facility was built in 2016. The industrial campus features 24-foot clear heights and dock high loading. The property is within MetCenter Business Park, a Class A mixed-use business park spanning 550 acres that includes an office campus, flex space, creative office space, on-site retail and also features a hospitality component.
Directly across Austin-Bergstrom International Airport, the property is roughly 8 miles of downtown Austin. The campus provides easy access to highways 71 and 183, State Highway 130 and Interstate 35.
The tenant roster also includes Kapsch, Austin Java, Power Home Remodeling Group and the State of Texas Health and Human Services Commission, according to CommercialEdge data.