Mike Tipps of Austin's Colliers Oxford Commercial represented Iron Mountain and Tom Pardee of Denver-based ProLogis spoke for the building owner. The distribution center, one of six ProLogis buildings in Austin, is a 168,150-sf structure in 1986.
Iron Mountain, based in Boston, provides services for outsourcing records and information management. The company entered the Austin market in 1998 when it acquired the records management operations of Rockford Business Interiors Inc. and Hart Information Services.
The southeast submarket, close to Austin-Bergstrom International Airport, had a 13% vacancy rate in warehouse and distribution space at the end of 2001, according to a market report from NAI/Commercial Industrial Properties Co. Almost 280,000 sf in the southeast was absorbed in 2001 while developers have 202,598 sf of space under construction in the submarket.
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