Dungan Warehouses & Storage (19,453 SF) in Austin, TX Closed June 15, 2017
Nordic is pleased to announce the acquisition of Dungan Self-Storage & Warehouses - 1605 Dungan Lane, on June 15. Located 10 minutes from Downtown Austin, in a transitioning neighborhood in the path of growth, Dungan Warehouses is a 19,453 SF warehouse and self-storage property, consisting of 38 units.
The property functions as both a warehouse/business incubator as well as self-storage, with the larger units geared toward small business owners, so there are a wide variety of users driving demand. The Nordic business plan includes implementing institutional asset management best practices and completing minor capital and cosmetic projects to improve the curb appeal and market positioning of the property. We are already +4% above underwriting for rents and have a wait list for new tenants.
Nordic has several additional current projects in the acquisition pipeline. Inquire with us for more details, and sign up for our mailing list to learn more about these and similar commercial real estate investment opportunities.