United Properties Breaks Ground on Buda Midway
AUSTIN (June 30, 2021) — United Properties announced today that it has begun construction on phase I of its first Austin-based project, Buda Midway, a 474,000 sq. ft. Class A industrial development located on Fire Cracker Drive in Buda, Texas. The development will ultimately encompass 800,000 sq. ft. when completed.
"Buda Midway is exactly the kind of high-caliber project we’ve been planning to pursue from the very start," said Josh Delk, senior vice president, Austin commercial development, whose appointment was announced in April 2020 with the opening of the United Properties – Austin office.
"Demand for industrial real estate in Central Texas is extremely high and space is very limited, with not enough industrial product on the ground or in the pipeline to satisfy near-term demand," Delk said. "Buda Midway, which will ultimately include over 800,000 sq. ft. of Class A, institutional-grade warehouse and manufacturing facilities, will be well-positioned to take advantage of strong market conditions with an unrivaled location in Buda, in close proximity to Austin while also offering the ability to service the flourishing suburbs in Hays County, south of Austin."
He added that the project offers excellent means of ingress and egress, access to major highways, high visibility from Interstate 35 and proximity to restaurants and retail. "We’re also very proud of the building design with its clean aesthetic, which will provide a fine front door for high-quality tenants in the market," Delk said.
Phase I of the Buda Midway project will contain three buildings on 35.88 acres totaling just over 474,000 sq. ft. Buildings 1 and 2 will feature a rear-load design, each at 115,090 sq. ft. Building 3 will offer a cross-dock design at 244,285 sq. ft. with an expected completion date of the first part of 2022. Phase II, which will be completed at a later date, will include up to an additional three buildings with another 326,000 sq. ft. available on the site.
Buda Midway is located at the crossroads of IH-35 and SH-45, offering quick and easy access to the Austin-Bergstrom International Airport, every major Texas highway and cities such as Austin, Round Rock and Temple to the north; and San Marcos, New Braunfels and San Antonio to the south. The site is in close proximity to a variety of amenities, including restaurants, hotels and shopping. Once finished, the buildings will provide 30’-36’ clear heights and ample dock doors and trailer parking, as well as 200-plus parking spots, including car charging stations.
"We’re applying thoughtful design to Buda Midway to ensure it enhances the surrounding community, including an architectural plan that includes beautiful design and landscaping with plenty of greenery and retention ponds," said Delk. "We believe Buda Midway complements the city itself. We’re confident it will become an integral part of the economic and social fabric of the community — a good neighbor providing jobs and giving back."
"Buda has strived to provide more employment opportunities for our residents and those in the surrounding area," said Traci Anderson, Buda Economic Development Corporation (EDC) executive director. "United Properties is bringing a high-quality development to Buda that will give people the opportunity to work closer to home."
Buda Midway is part of a joint-venture partnership between United Properties and PCCP, a Los Angeles-based real estate investment and management firm, that plans to develop an 11-building industrial portfolio in Minneapolis, Denver and Austin.
Project partners include Aquila Commercial, Kimley-Horn Design and Engineering Consultants, Powers Brown Architecture, RC Page Construction and Hitchcock Design Group. For more information, visit budamidway.com.
Since United Properties announced its market entry in April 2020 with Delk’s appointment, the Austin team has grown to include Chris Mase, vice president, construction management, and Brenda Studt, development manager. United Properties – Austin opened a new headquarters office at 1617 West 6th Street, Austin, in December 2020.
Delk indicated that he and his team are working on several fronts, from industrial development to mixed-use and residential, throughout Austin and the surrounding areas.
"We’ve been here just a little over a year, and despite the challenges we’ve faced with the pandemic, we are full steam ahead, beginning with Buda Midway — with more to come," he said.
About United Properties
United Properties has been creating deep roots in the commercial real estate industry for more than 100 years. The company imagines new possibilities in real estate to help enrich communities and create lasting legacies. United Properties provides market expertise for ground-up development, redevelopment and acquisitions of value-add and stable investments. The company invests in and develops office, industrial, retail, mixed-use and senior housing properties. United Properties is owned by the Pohlad Companies and is headquartered in Minneapolis, with offices in Denver and Austin, Texas. For more information, visit www.uproperties.com and follow on Twitter, LinkedIn and Instagram.
About Buda Economic Development Corporation
Created by voters in 2001, the Buda Economic Development Corporation has invested millions of dollars in enhancing the City of Buda’s economy. Buda EDC’s mission is to provide leadership in creating and pursuing balanced economic growth, by recruiting and retaining desirable, diverse businesses and developing infrastructure, while protecting the quality of life and natural resources in the region. For more information, visit www.budaedc.com, Facebook @BudaEDC, Twitter @BudaEDC, Instagram @BudaEDC and LinkedIn.
Details
June 30, 2021
United Properties, LLC