Four Springs Capital Trust has acquired a last-mile distribution facility in Austin, as part of an off-market deal. The property is fully occupied by Amazon. Mohr Capital sold the 160,000-square-foot warehouse, dubbed MetCenter Building III, as well as the 20-acre adjacent parking lot.
Located at 7000 Metropolis Drive in the Southeast industrial submarket, the facility serves as Amazon’s primary last-mile distribution property in the Austin metro.
MetCenter Building III is situated within the 550-acre MetCenter, a Class A mixed-use business park adjacent to Austin-Bergstrom International Airport. Tenants of the property have convenient access to major thoroughfares such as Highway 183, U.S. 290, Highway 130, Highway 71 and Interstate 35.
The property was purchased by Mohr back in 2019, as part of a nearly 405,000-square-foot portfolio buy from Zydeco Development. The portfolio included MetCenter Building III and a four-building office facility nearby.
Mohr’s Managing Director of Investments Rodrigo Godoi and Four Spring’s CEO William Dioguardi negotiated the transaction.
Godoi said in prepared remarks that Four Spring’s offer was very compelling, and the company decided to go through with the deal due to the extended lease term, the credit quality of the tenant, the solid real estate fundamentals of the industrial market, as well as the relationship the two companies already established.
In April, Mohr Capital broke ground on an 827,000-square-foot speculative industrial building within its Mohr Logistics Park, a master-planned facility in Indianapolis. In March, Four Springs Capital Trust acquired another Amazon-leased property, a 312,000-square-foot building in Oklahoma City.