Amazon-Occupied MetCenter Sells to Four Springs in Off-Market Deal

The strength of the industrial market and the flight toward quality in the wake of the pandemic recently contributed to the sale of MetCenter Building III, a last-mile distribution facility occupied by Amazon in Austin. It recently sold to Four Springs Capital Trust in an off-market transaction for an undisclosed purchase price.

The property is 100 percent occupied by Amazon.com Services LLC and serves as its primary last-mile distribution facility. The sale includes the adjacent 20-acre parking lot, which is also currently leased by Amazon.

The 160,000-square-foot warehouse/logistics building is located at 7000 Metropolis Dr. in the Southeast industrial submarket. The seller was Mohr Capital, a Dallas-based privately held real estate investment firm.

“After more than a year of owning the facility and the departure of one of its occupants, we worked closely with Amazon in 2020 and early 2021 to exercise its right of first offer to fully occupy the building through 2031. While our intention was always to hold this asset long-term, Four Springs’ off-market offer was very compelling. The extended lease-term, the credit quality of the tenant, the solid real-estate fundamentals of the industrial market and the great relationship we have with Four Springs made this deal possible,” said Rodrigo Godoi, managing director of investments for Mohr Capital.

In 2019, Mohr Capital secured MetCenter Building III as part of a 404,800-square-foot portfolio acquisition from Zydeco Development. At the time of purchase, the portfolio consisted of MetCenter Building III – then occupied by both Amazon and Uber Advanced Technologies – as well as a four-building 244,800-square-foot office facility occupied by technology, government and healthcare tenants.

MetCenter is a 550-acre class-A mixed-use business park that is adjacent to Austin-Bergstrom International Airport.

Godoi and Four Springs Capital Trust CEO William Dioguardi negotiated the transaction.