Triten Enters Austin With 486 KSF Industrial Portfolio Purchase
Triten Real Estate Partners has acquired Central Texas Logistics Center, a seven-building, 485,885-square-foot industrial portfolio in San Marcos, Texas, within metro Austin. Peak Rock Capital previously owned the properties, CommercialEdge data shows.
This purchase marked Triten’s entry into the Austin submarket and its largest industrial acquisition to date.
Delivered between 2008 and 2022, the buildings feature cross-dock, rear- and front-load configurations, as well as 24-foot clear heights and an average suite size of 27,595 square feet. The industrial park is 100 percent-leased to 15 national and regional tenants, including Lowe’s Pro Supply, Builders Alliance, Goodman and West Shore Home, among others.
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Central Texas Logistics Center is at 1551 and 1600 Clovis R. Barker Road, within the Texas Innovation Corridor. The 46-acre portfolio is roughly 36 miles southwest of downtown Austin and some 47 miles northeast of downtown San Antonio, as well as about 2 miles from Interstate 35.
Since 2021, Triten has acquired or developed nearly 50 supply chain properties encompassing about 500 acres, with an aggregated market value of more than $450 million. Additionally, the firm purchased and built north of 3 million square feet of traditional industrial space.
Before Triten’s entry into the Austin submarket this year, the company took steps to expand its industrial and IOS portfolio the year prior with assets throughout Dallas, Philadelphia, Atlanta and Washington, D.C., according to prepared remarks by Will Hedges, partner at Triten Real Estate.
Metro Austin’s industrial investment treads water
Metro Austin investors traded 50 industrial assets during the first nine months of the year, according to CommercialEdge data. These encompassed more than 3.5 million square feet and changed hands at an average of more than $171 per square foot, for a total industrial investment volume north of $264 million.
Although investors exchanged one more property this year compared to the same period of 2023, last year’s average price per square foot rose upward of $415, the same source shows. The first nine months of 2023 saw upwards of 4 million square feet of industrial space being traded.
Another significant transaction in metro Austin was EQT Exeter’s purchase of 110 SE Inner Loop, a 449,642-square-foot asset in Georgetown, Texas. Portman Holdings sold the property for $60.9 million in March.
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