Birtcher Anderson & Davis—a TPG Real Estate Partners-backed platform—has acquired the 239,952-square-foot Pecan 130 Business Park in Pflugerville, Texas. Dogwood Industrial Properties sold the two-building industrial property after previously purchasing it at the beginning of 2020, according to CommercialEdge data.
Located at 3813 Helios Way on 15.4 acres just off toll road 130, the property is less than 19 miles from downtown Austin. Completed in 2013 and 2014, the buildings feature clear heights from 24 to 27 feet, 40 dock-high doors, 180-foot shared truck court, seven drive-in doors, ESFR fire protection, insulated storefront glass and ample parking. At the time of the sale, the property was 85 percent leased to seven tenants. According to CommercialEdge information, the roster includes EOS North America, D-BAT Frisco and Tracking Point.
JLL Senior Managing Director Dustin Volz, Senior Managing Director Trent Agnew, Managing Director Stephen Baily, Director Dom Espinosa, as well as Analysts Wesley Gilmer and Josh Villarreal worked on behalf of the seller. In a recent article, Agnew discussed the industrial sector’s future after closing out a strong 2020.
Industrial on the rise
At the beginning of the year, Dogwood entered the Austin industrial market with the acquisition of the 152,234-square-foot Innovation Business Park Building III in Hutto, Texas.
The metro’s industrial market closed the first three months of 2021 with robust numbers, according to JLL Research’s most recent Austin Industrial Insight report. Thanks to a strong base of tenants in diverse fields such as life sciences, retail, government contractors and manufacturing suppliers looking to expand and relocate to the metro, Austin experienced historically low vacancies. Additionally, direct average asking rates increased 8 percent year-over-year from the first quarter of 2020 to the same period in 2021.