Austin Hums Along with Investors Clamoring for More

According to CBRE’s 2021 Americas Investor Intentions Survey, Austin is the number one North American market for commercial real estate investors. Survey respondents demonstrated strong interest in Sunbelt markets, particularly those with favorable job and population growth prospects.

Harris Ridge Business Center, a five-building 387,838-square-foot industrial park at 1100 East Howard Ln. in Austin, fits that bill. Harris Ridge recently sold to TA Realty for an undisclosed price.

Randy Baird, Jonathan Bryan, Ryan Thornton and Eliza Bachhuber with CBRE National Partners arranged the transaction on behalf of the seller, HPI Real Estate Services.

“Austin has consistently been one of the fastest-growing cities in the country and there’s a tremendous demand from investors for industrial space in the region,” said Bryan. “There was significant interest in Harris Ridge because of its location, Austin’s market fundamentals and the incredible rent growth projections in Austin, enabling ownership to grow NOI in the coming years.”

Centrally located in the fast-growing North Austin submarket, Harris Ridge was constructed starting in 2008 with the final building delivering in 2021. The portfolio is 100 percent leased to 11 tenants with an average suite size of 32,392 square feet. Harris Ridge is 1.5 miles from I-35, close to local demand drivers including mixed-use asset, The Domain.