PFLUGERVILLE, TX-Verde Corporate Realty Services has begun development of its $50-million, 63-acre Verde Springbrook Corporate Center. At completion, the park will have one million sf of industrial space.
The initial 244,800-sf phase consists of two spec buildings, 144,000 sf and 100,800 sf. Rob Wendt, vice president and Austin market officer for the El Paso-based developer, says the project is the end result of a two-year hunt throughout the Austin area for viable acreage. The dirt is situated at the intersection of a toll road, Texas 45, and Schultz Lane in North Austin.
"This involved a pretty extensive search to meet all the criteria we needed," Wendt says. One requirement was positioning near good roads. Wendt says the deciding factor for the Pflugerville site was its highway access and location two miles south of Interstate 35 and Texas 130. And, he adds, "Pflugerville has been wonderful to work with." The city's Community Development Corp. is assisting Verde on the extension and expansion of Meister Lane to improve access to and from the toll road.
Wendt tells GlobeSt.com that 128,000 sf of the spec space that's under construction is already spoken for, but he declined to discuss the tenant. "It's a company that's a customer of ours in other markets," he says.
The plan is to continue with spec development, but Wendt isn't ruling out a build-to-suit or two. "It's why we picked the location we did for the first two buildings," he says. "It gives us flexibility on how we can lay out the park and shift gears in case someone wants to come in for a build-to-suit."
Verde is preleasing for the park. The architect of record is Meinhardt & Associates Architects of Dallas and Rosenberger Construction LP of Houston is the general contractor.
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