Brookfield Properties Break Ground on Park 290 in East Austin

Brookfield Properties broke ground recently on Park 290, a four-building, 792,139-square-foot industrial development in Austin’s growing East submarket. The project is expected to deliver by the fourth quarter of 2024.

CBRE’s Darryl Dadon, Joe Novek, and Olivia Reed have been hired to lease the project on behalf of the landlord.

“We are thrilled to have broken ground on Park 290, which we believe will be a game-changer for the Austin industrial market,” said Mr. Dadon, Senior Vice President with CBRE in Austin. “With its ease of access to major manufacturers and highway visibility from each building, we are confident that Park 290 will become a top destination for businesses looking to grow and thrive in the region.”

Located off Decker Lane in the East submarket of Austin, Park 290 will include four Class A distribution buildings ranging from 76,000 sq. ft. to 321,000 sq. ft. and will feature 32 to 36-foot clear heights, flexible divisibility, ample car and trailer parking, and LEED certification. Park 290 provides users with modern building features like EV chargers, an extensive labor pool, visibility by 112,486 vehicles per day, and excellent access to the Austin area via direct frontage on Highway 290 and an easy connection to SH 130.

“This well-located, LEED-certified project elevates the East Austin market, where tenant demand for first-class logistics facilities continues to expand. We expect the project to support both the unique industries migrating to Austin and those already operational in the market experiencing growth,” said Ryan Soule, Vice President, Asset Management for Brookfield Properties.

Austin’s East industrial submarket is currently home to 9.5 million square feet of warehouse space and is one of the region’s tightest at 2.5% vacancy, according to a fourth-quarter report from CBRE.