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AUSTIN BUSINESS JOURNAL
REAL ESTATE INC. BY PARIMAL M. ROHIT
I
PROHIT@BIZJOURNALS.COM
512-494-2523
@PARIMALROHIT
RARE RAIL SITE FOR SALE INDUSTRIAL
A chunk of what’s billed as the largest rail park in the Austin area has just hit the market. Now up for sale are 350 acres of the 750-acre RCR Taylor Logis- tics Park in Williamson County. The industrial park’s developer, RCR Rail Park Development Co., is seeking end users or other devel- opment firms interested in build- ing warehouse space next to the class I railroads that converge at the site. The 350 acres would be avail- able for most industrial uses, such as distribution, manufacturing or transloading of lumber, plastics or food. The remaining 400 acres at the park comprise rail lines, roads, storage for automobiles and oth- er infrastructure. Manifest, rail car storage and unit train services are also available. Rail and non-rail commercial sites are available at the site, which is betweenHutto and Taylor, about 35 miles north of downtown Aus- tin. A developer — or developers — could build warehouses as small as 50,000 square feet or larger than 1 million square feet. A representative for RCR Rail Park said the developer has been in talks with a freezer storage 30 YEARS OF CHANGE IN AUSTIN HOUSING MARKET DATA SNAPSHOT Here’s a quick comparison of the average and median prices for homes in the Austin metro for November 1990 versus November 2020. Once a contender for Tesla factory, rural site could attract big user
Taylor
79
Williamson
MAPS4NEWS
2020 was $10.57 per square foot, according to Cushman & Wake- field. For warehouse/distribution centers, it was $9.65. Industrial and warehouse development is becoming more commonplace in the outlying areas of metro Austin. Lowe’s leased about 119,000 square feet in Kyle during the third quar- ter. Amazon is pursuing a new 1-million-square-foot ware- house in San Marcos and has leased space this year in Round Rock and Kyle, in addition to the 3.8-million-square-foot ware- house it has under construction in Pflugerville. A large industrial park, Cross- roads Logistics Center, is being developed by HPI Real Estate Ser- vices and Investments in North east Austin. It could eventually span 1.6 million square feet. Tesla in July announced it would build a $1.1 billion facto- ry near Austin-Bergstrom Inter- national Airport and pledged to create 5,000 jobs.
RITD, RTR RAIL PARK DEVELOPMENT CO.
tin-area factory. The two railroads at the park are used by BNSF and Union Pacific. Other features at the site include a transload park and direct access to U.S. Highway 79. The State Highway 130 toll road is about six miles away, to the east, while I-35 is about 10 miles west. Industrial has been one of the hottest real estate asset classes during the pandemic, with com- panies leasing up tons of space to help meet demand for e-com- merce. Cushman & Wakefield, in a recently published report, stated distribution center development in Austin is “a hot commodity.” The average net rental rate for all property types in the Aus- tin area in the third quarter of
company and negotiating other contracts, but no agreements or deals have been finalized. The spokesman added the com- pany won’t allow any uses on the property involving hazardous materials. The park could support companies in the buildingmateri- als, food, polymer, resin and steel industries. W.T. Byler, Sjolander Resources and Development, Railroad Infra- structure Terminal Development and McAlister Assets were all involved in the rail park, as well. While it is on the periphery of the Austin metro, RCR Taylor Logistics Park was considered a viable site for Tesla Inc. last year, when the electric carmaker was scouting locations for an Aus-
The 750-acre RCR Taylor Logistics Park is planned in Williamson County, east of Hutto and west of Taylor. Acreage is now for sale to allow warehouses as small as 50,000 square feet or larger than 1 million square feet.
NOVEMBER 1990
BY THE NUMBERS
$84,117
1990 SALES: 558
TOTAL LISTINGS: 3,942 TOTAL LISTINGS: 2,831*
$163,600 in 2020 dollars
$71,000
$138,088 in 2020 dollars
2020 SALES: 3,392
NOVEMBER 2020
■ Average price ■ Median price
$462,812
* listings were at 6,236 in April 2020 but have dropped sharply since pandemic started
$363,750
SOURCE: TAMU Texas Real Estate Research Center
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