Cordova Starts Massive Austin Mixed-Use With Logistics Warehouses

The first two phases of a 95-acre development in Cedar Park, near Austin, will start with logistics.

A joint venture between Cordova Real Estate Ventures, Riverside Resources and Live Oak recently started the project, “New Hope.” It is expected to cost $250 million at full buildout, including 430,000 square feet of spec industrial space and 29,000 square feet of retail, the Austin Business Journal reported.

The development received $4.5 million in public funding for infrastructure, and it is also expected to have entertainment and office space, the outlet reported.

Also in the Austin area, IDI Logistics is planning to build a three-building logistics complex in Pflugerville. The project totals 313,000 square feet and is expected to cost more than $25 million, according to a filing with the state of Texas. The development, at 18100 Schultz Lane, is expected to start next March and take about a year to build.

Dallas-based Stream Realty Partners is planning an industrial development on 173 acres in west Fort Worth, the Dallas Business Journal reported. The project would have six industrial lots and requires approval from the Fort Worth City Plan Commission.

Also in Fort Worth, Houston-based Alliance Industrial plans to build two 157,000-square-foot warehouses costing $10 million each at 2917 Chesser Boyer Road.

Auto parts company LKQ leased 523,000 square feet at the DFW Park 161, at 3100 State Highway 161 in Dallas, from Perot Development Company. Kurt Griffin and Nathan Orbin of JLL represented Perot. Jacob Bobek and Tim Vogds of CBRE represented the tenant.

Trina Solar, which makes smart solar products, is building a 1 million-square-foot facility in Wilmer, south of Dallas. The facility will produce large output Vertex photovoltaic modules, which are being used in large net-zero construction projects. It will cost cost at least $200 million to build.

Also in Wilmer, New York-based Alto Investments is planning a 586,000-square-foot logistics complex costing an estimated $34 million. Construction is expected to start in November and wrap up in September of next year.