Manulife Buys Tesla-Occupied Facility Near Austin
BMO provided acquisition financing.
Manulife Investment Management has acquired a 183,340-square-foot Class A industrial asset in Taylor, Texas. BMO issued a three-year, fixed-rate $32.2 million acquisition note in a deal arranged by JLL. Partners Real Estate sold the facility.
Tesla inked a deal to fully lease the property for 10 years. The warehouse is near Samsung’s upcoming $17 billion semiconductor campus, set to become operational next year. Just last month, the two companies signed a $16.5 billion contract whereby the South Korea-based manufacturer will produce chips for Tesla at its forthcoming Taylor facility.
The warehouse is within RCR Taylor Logistics Park, a 750-acre master-planned industrial campus served by Union Pacific and BNSF—the only such property in greater Austin. The park has direct frontage to Texas State Highway 79 and Farm-to-Market Road 3349, providing direct access to interstates 35 and 79, as well as Texas State Highway 130.
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Completed in 2025, the facility features four dock-high doors, eight grade-level doors, as well as five cranes and a rail entry linked to the RCR network.
JLL Senior Managing Director Melissa Rose, together with Director Jack Britton and Associate Nicole Barba, as well as Analyst Preston Bacon, represented Manulife in the debt acquisition.
Manulife’s real estate platform encompasses 91.1 million square feet of assets under management across the globe. The firm made another industrial investment earlier this year by teaming up with Harel Insurance Investments and Financial Services Ltd. The trio acquired a 333,728-square-foot cold storage facility in Jacksonville, Fla.
National industrial loan originations up, but Austin sales down
Despite uncertainty regarding tariffs, industrial loan originations increased 53 percent during 2025’s second quarter, compared to the same period of last year, according to a report by the Mortgage Bankers Association. The figure was also up 102 percent quarter-over-quarter.
Though the debt markets appeared more accessible, investors traded 8.6 percent less industrial product across metro Austin during the first seven months of 2025 compared to the same interval of last year, Yardi Research Data shows.
Another warehouse that traded this year, also close to Samsung’s upcoming chip factory, was Innovation Business Park 8. Buchanan Capital Partners acquired the 196,523-square-foot property.
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