Karlin-Brokered Industrial Building Sells to GM

AUSTIN--Karlin Real Estate has sold a 302,604-square-foot industrial building located at 13201 McCallen Pass in north central Austin to General Motors. Terms of the sale were not disclosed.

GM acquired the building to complement its existing Austin IT Innovation Center at 717 E. Parmer Lane. 

The facility is located within Sector 6, the first phase of the 400-acre master-planned technology and office park being developed by Los Angeles-based Karlin and Dallas-based Trammell Crow Co. Sector 6 is comprised of three existing industrial buildings totaling approximately one million square feet, which were previously occupied by Dell Inc.

All three buildings have been leased or sold, including 400,000 square feet to Fortune 500 companies, according to Karlin vice president Vicky Canto-Ponce who is overseeing the development. Other tenants within Parmer's Sector 6 include Allergan, Brown Traffic and Marco Fine Arts.

Trammell Crow, acting as master developer, is currently completing the first phase of new construction at PARMER, a three-story, 192,000-square-foot office building, and has plans to break ground on an identical building later this year. Both buildings are designed for single- or multi-tenant occupancy, and will feature 64,000-square-foot floor plates.

“PARMER has drawn a lot of attention from a wide variety of users who are looking for value office space in Austin,” said Mark Emerick of CBRE, who along with John Barksdale, head the PARMER leasing team. “Since the announcement of the development last July, we have quickly cycled through the one million square feet of existing space and have received numerous proposals for the new construction.”

PARMER is currently zoned for several million square feet of office, industrial, hotel and retail uses. The development will feature a central amenity area that will include covered outdoor dining and seating areas, extensive hardscape improvements, miles of jogging/walking paths and Wi-Fi-enabled social areas in a landscaped setting. 

Emerick and Barksdale represented Karlin in the sale to GM.  JLL's AJ Weiner, in the firm's Detroit office, and Liz Ticker and Jake Ragusa in JLL's Austin office represented GM.