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Longpoint Building 563K-SF Industrial Park in Pflugerville
Longpoint Realty Partners is underway on the construction of Point 45, a 563,081-square-foot industrial development in the Austin suburb of Pflugerville. The projct has an estimated cost of $37 million.
Point 45 is rising on about 40.6 acres at 2501 S. Kenney Fort Blvd. The Austin Business Journal reports that the project will consist of three buildings totaling 146,506 square feet, 178,879 square feet, and 237,696 square feet.
The development team consists of Harvey Cleary as general contractor and Merriman Anderson Architects as architect. A JLL team consisting of Ace Schlameus and Kyle McCulloch is handling leasing responsibilities for Point 45.
Overall industrial vacancy rates in the first quarter clocked in at 20.6%, according to commercial real estate firm CBRE. But the Northeast Austin submarket, where Pflugerville is located, had an overall vacancy of 14.6%.
CBRE’s data also shows that the Northeast Austin submarket is maintaining lower-than-average vacancy rates despite having more inventory to fill than any other submarket in the metro.
