{"id":1004510587,"date":"2021-02-16T05:10:20","date_gmt":"2021-02-16T13:10:20","guid":{"rendered":"http:\/\/internal.cpexecutive.com\/?p=1004510587"},"modified":"2021-05-15T10:06:41","modified_gmt":"2021-05-15T18:06:41","slug":"rastegar-unveils-plans-for-austin-industrial-park","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/rastegar-unveils-plans-for-austin-industrial-park\/","title":{"rendered":"Rastegar Unveils Plans for Austin Industrial Park"},"content":{"rendered":"<div id=\"attachment_1004510599\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/11708-McAngus-Road.jpg\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004510599\" loading=\"lazy\" class=\"wp-image-1004510599 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/11708-McAngus-Road.jpg\" alt=\"11708 McAngus Road\" width=\"300\" height=\"233\"><\/a><p id=\"caption-attachment-1004510599\" class=\"wp-caption-text\">11708 McAngus Road. <em>Image courtesy of Rastegar Property Co.<\/em><\/p><\/div>\n<p>Rastegar Industrial, the industrial arm of Rastegar Property Co., is planning to bring more than half a million square feet of contiguous industrial space to Austin, Texas, with the construction of its latest project.<\/p>\n<hr>\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/top-10-leed-certified-buildings-in-texas-in-2020\/\">Top 10 LEED-Certified Buildings in Texas in 2020<\/a><\/p>\n<hr>\n<p>The company expects to break ground on a 530,000-square-foot industrial property in the fourth quarter of 2021 or in early 2022. While the project doesn\u2019t have a general contractor yet, Rastegar tapped Newmark to handle leasing for the property. Completion is expected in the third quarter of 2022.<\/p>\n<p>Located at 11708 McAngus Road, the project will feature six buildings including smaller and mid-sized rear-loaded facilities alongside a 200,000-square-foot cross-dock facility. Rastegar will build the new development on a 50-acre parcel that\u2019s within an Opportunity Zone. While the new industrial property will not be a build-to-suit project, Rastegar is expecting to have a tenant in place to collaborate on the site\u2019s development. Ari Rastegar, founder &amp; CEO of Rastegar Industrial\u2019s parent company Rastegar Property Co., told <em>Commercial Property Executive<\/em> that there are numerous major credit tenants that are interested in the property.<\/p>\n<p>Rastegar\u2019s project will have close access to State Highway 130 and the Austin-Bergstrom International Airport.<\/p>\n<h2>Active industrial interest in Austin<\/h2>\n<p>Rastegar said in prepared remarks that Austin is seeing a strong demand for industrial space, as major tech companies and manufacturers are moving into the region. The company\u2019s industrial park will be among several other industrial projects underway, including Tesla\u2019s Gigafactory Texas and Chanel\u2019s manufacturing facility nearby.<\/p>\n<p>\u201dGiven the incredible demand for industrial in Austin specifically, it only makes sense that we bring this to market now especially considering its location,\u201d Rastegar told <em>CPE<\/em>. \u201cBetween Tesla\u2019s Gigafactory, Chanel\u2019s manufacturing plant, the proximity to the airport, and now this property, [the 130 corridor is] the hottest strip of land in Austin, and we\u2019re happy to fill that drastic need for industrial in the city.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Situated in an Opportunity Zone, the project will feature six buildings and a cross-dock facility.<\/p>\n","protected":false},"author":883,"featured_media":1004518003,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21782,21808,21748,21742],"tags":[51022,50999,51023],"class_list":["post-1004510587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-austin","category-development","category-featured","category-industrial","category-latest","tag-ari-rastegar","tag-newmark","tag-rastegar-property-company"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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