Prologis can start moving dirt on its 75-acre logistics park in Cedar Park. The Austin Business Journal reports the company is constructing spec built-to-suit warehouses for the first phase of Northwest Depot along Brushy Creek Road.
It’s planned to be six buildings, ranging in size from 88,200 to 166,800 square feet, for a total of 786,000 square feet. Prologis says the buildings are fully permitted and should be built within twelve months.
Data from Partners Real Estate pegged the Northwest submarket at 8.2% vacancy, much lower than the region-wide amount of 14.8%. There was about 1.1 million square feet under construction at the end of last year.
Cushman and Wakefield’s Brian Liverman and Matt Jacobs are handling leasing for Northwest Depot.
Prologis has 70 properties totaling over 8 million square feet that serve 145 customers, and an additional 1.3 million square feet slated for development, in the Austin area,
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