The project will total 530,000 square feet of industrial space, according to Rastegar. Rastegar estimated construction at the development will be complete by the third quarter of 2022.
In the news release, Rastegar Founder and CEO Ari Rastegar said the location was selected due to its proximity to Austin-Bergstrom International Airport, the under construction Tesla Gigafactory in East Austin, and other projects along SH 130 between Austin and San Antonio.
“Austin is one of, if not the fastest growing metro in the United States,” Rastegar said. “The world’s greatest tech companies and manufacturers are all moving to the region, creating an imminent need for more industrial space,”
Newmark Property Management Service is the project’s leasing agency.