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AUSTIN-Greenhill Business Park, situated 20 miles north of Austin, Tuesday wraps up construction on the first of three buildings planned for the industrial development.

Mega-Tech Assembly Inc. has signed for 27,000 sf of the 45,000-sf building, designed to be the smallest of the structures being developed by HF2M. “They’ll be able to move into their space Tuesday,” Royce Lacey of NAI/Commercial Industrial Properties told GlobeSt.com.

Mega-Tech is one of a growing number of Austin-based companies to seek space outside the capital’s city limits due to rising costs and limited availability. According to a mid-year study presented by NAI/Commercial Industrial Properties, the industrial market continues to be very tight and total market vacancy rates still remain at 5%.

Mega-Tech recently moved into a 59,180-sf industrial building at 2550 Tellabs Dr., property that abuts the Greenhill Business Park, a development ticketed for two more buildings, 150,000 sf each, says Lacey, one of two NAI brokers representing the owner. Construction time frames for the other phases are undecided.

Mega-Tech had been leasing two buildings totaling 22,000 sf in the high-end Metric Center in the capital. General Manager Andrew Kopp says the relocation and added space will allow the staff size to double while tripling the number of work stations for the computer repair and warehouse operation. Mega-Tech counts Dell and Compaq computers among its clients, according to NAI/Commercial Industrial Properties.

Lacy says the soon-to-be completed 45,000-sf building, a spec project, has only 9,000 sf available since another tenant has signed for a 9,000-sf spot.

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