Fully leased industrial building in North Austin trades hands
JLL Capital Markets closed the sale of Titan Development’s Gateway 35 Commerce Center Building 1
DALLAS, October 19, 2022 – JLL Capital Markets and Titan Development announced today they have closed the sale of Titan Development’s Gateway 35 Commerce Center Building 1, a newly built 294,297-square-foot single-tenant industrial building in the Austin suburb of Georgetown, Texas, occupied by CelLink Corporation.
JLL represented the seller, Titan Development, in the sale.
Completed in June 2022, Gateway 35 Commerce Center Building 1 is a 100% climate-controlled, cross-dock building featuring 36’ clear heights, 94 trailer stalls, 60’ speed bays, 185’ truck court and 220 parking spaces (0.75/1000 SF). The building was pre-leased to CelLink, serving as a mission-critical facility for the tenant and is their first manufacturing and distribution facility in Texas. CelLink, which is based in California, manufactures the world’s largest and most electrically and thermally conductive flexible circuits.
Positioned on 20.96 acres at 2550 N IH-35 Frontage Road, the property is in North Austin at the intersection of Interstate 35 and Highway 130, two of the most vital north/south thoroughfares for the Central Texas region. As a result, the tenant can reach nearly 20 million residents within a three-hour drive. Furthermore, Gateway 35 Commerce Center Building 1 is located 35 minutes from Austin-Bergstrom International Airport and is less than 30 minutes from the market’s largest demand drivers, including Tesla Gigafactory and Samsung Taylor Plant. In addition, the area’s labor force encompasses more than 700,000 potential workers and spans 35 miles north to Temple and 45 miles south to Buda.
The JLL Capital Markets Industrial team representing the seller was led by Senior Managing Directors Trent Agnew and Dustin Volz, Directors Dom Espinosa, Associate Josh Villarreal and Analyst Megan Babovec.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Titan Development
Titan Development is a leading Southwest full-service development and real estate investment firm with proven returns, via diversified asset classes across varied geographic markets. Titan has completed more than $2.5 billion in project cost since the firm was formed in 1999. Titan Development has a wealth of real estate development experience in many asset classes including private equity fund investment and management, and has offices in Austin, TX and Albuquerque, NM.
Titan Development recently closed its third fund, Titan Development Real Estate Fund III (TDREF III) at $122 million in May 2022, continuing its successful strategy of focusing on multifamily and industrial investing in secondary and tertiary markets that continues Titan’s previous strategy of its TDREF II that closed at $95 million in November of 2020. Titan’s inaugural fund, TDREF I raised $112 million and invested in a variety of real estate asset classes. To learn more, please visit www.titan-development.com.