9709 Brown Lane (76,000 SF) in Austin, TX Closed March 2019
Austin, TX – Nordic Realty Partners purchased the 76,000 square foot “last mile” infill industrial park located at 9709 Brown Lane. The property traded at an undisclosed price. Byram Properties was the seller, which has owned the property since 1984.
Located on Brown Lane in the Cameron Industrial Park in central east Austin, 9709 Brown Lane compromises three large warehouse buildings spread over four acres. Nordic plans to make significant capital improvements and bring the property up to specifications seen in other urban infill parks, tailoring the spaces for a new generation of tenants including creative makers and entrepreneurs, local service businesses, and high-volume users who need to be within 20 minutes of central Austin. Nordic’s objective is to offer affordable space to growing businesses seeking high ceiling heights and secure storage space with truck and dock access.
Nordic principal Adam Cibik on the acquisition: “Last mile infill industrial is one of our highest conviction investment sectors for Austin. The yields are higher than apartment buildings, and we are finding tenant demand to be very deep for flexible spaces that appeal to small businesses and creative users. After our improvements, users can be anyone from a carpet distributor to a craft brewery. We have a pipeline of future acquisitions that will enable long-term owners to unlock the true value of their properties, and are looking for more warehouse deals in and around Austin.”
About Nordic Realty Partners – Nordic Realty Partners, LLC is a privately-held real estate development, investment management, and brokerage firm with offices in Los Angeles, Austin and Chicago. Mr. Cibik has been a resident of Austin since 2013 and opened the Nordic Austin office in 2015. Nordic has since acquired over 125,000 square feet of high-value creative warehouse space in central Austin. Nordic investors include several prominent family offices and wealth management groups across the US.
