AUSTIN & CENTRAL SCARBOROUGH LANE TO DEVELOP 2,000-ACRE AXIS LOGISTICS PARK IN SAN MARCOS port are also adjacent to the property. Of the 2,000 acres, 735 are currently zoned for industrial use. A construction time-line was not disclosed. Partners Real Es-tate is the leasing agent. planned community that will be located about 30 miles east of Austin in Bastrop. Adelton will be constructed in phases and will ultimately feature 1,200 resi-dential units, 125,000 square feet of com-mercial space, four miles of trails and 50 acres of parks, greenbelts and other communal outdoor spaces. Amenities will include a pool, beer garden-style outdoor pavilion, playground and a sports court. Single-family homebuild-ers David Weekley Homes and Empire Communities are underway on the resi-dential component of the project and are building two-, three-and four-bedroom homes that range in size from 1,400 to 2,800 square feet. The first move-ins will begin this summer. SAN MARCOS, TEXAS — Texas-based Scarborough Lane Development has an-nounced plans for AXIS Logistics Park, a 2,000-acre project in San Marcos, lo-cated roughly midway between Austin and San Antonio. The site was formerly known as SMART Terminal and is locat-ed near Loop 110, I-35, I-10 and SH-130. Union Pacific Railway, The BNSF Rail -way and the San Marcos Regional Air-DEVELOPER UNVEILS PLANS FOR 348-ACRE ADELTON MASTER-PLANNED COMMUNITY IN BASTROP REPORTS: IBM TO RELOCATE AUSTIN OFFICE CAMPUS TO THE DOMAIN BY 2027 BASTROP, TEXAS — An entity backed by Austin-based developer Benchmark Land Development Inc., has unveiled plans for Adelton, a 348-unit master-CBRE Capital Markets Central Texas New Listing AUSTIN, TEXAS — IBM will relocate its Austin office campus to The Do -main, a 300-acre mixed-use develop-ment on the city’s north side, by 2027, according to several media outlets in-cluding The Austin American-Statesman and Axios . The former publication re-ports that IBM, which employs about 6,000 people in Austin, will take about 320,000 square feet across two newly constructed buildings at 11901 MoPac Expressway. The latter publication re-ports that the interconnected buildings will both rise 14 stories and that the tech giant intends to occupy all of one tower and a small portion of the other. WOOD PARTNERS TO DEVELOP 650-UNIT MULTIFAMILY PROJECT IN BASTROP BASTROP, TEXAS — Atlanta-based multifamily developer Wood Partners has acquired 26 acres in Bastrop, about 30 miles east of Austin, for the construc-tion of Alta Blakey, a 650-unit project. The site is located within a larger mixed-use development by Houston-based Pearl River Cos. John Baird, Michael Kennedy and Sullivan Johnston of Avi-son Young represented Pearl River Cos. in the disposition of the land. Wood Partners expects for construction to last 24 to 36 months. Information on floor plans and amenities was not disclosed. IDI LOGISTICS BREAKS GROUND ON 465,786 SF SPEC INDUSTRIAL PROJECT IN ROUND ROCK WEST SIDE VILLAGE 51,202 SF | ± 1.7 AC (Combined) 1214 & 1312 West 6 th Street Austin, TX 78703 Bradley Bailey Senior Vice President +1 512 499 4928 bradley.bailey@cbre.com Logan Reichle First Vice President +1 512 499 4905 logan.reichle@cbre.com ROUND ROCK, TEXAS — Developer IDI Logistics has broken ground on Sun-rise Commerce Center, a 465,786-square-foot speculative industrial project in the northern Austin suburb of Round Rock. The development will consist of five buildings that will be constructed in phases on a 37-acre site. Phase I will feature three rear-load buildings that will range in size from 59,274 to 175,170 square feet and are expected to be com-plete in fall 2023. Other project partners include 5G Studio Collaborative, Pache-co Koch (civil engineer), Adolfson & Pe-terson Construction and Stream Realty Partners (leasing agent). Want commercial real estate news delivered to your inbox? Subscribe to the daily REBusinessOnline e-newsletter at www.rebusinessonline.com cbre.com/invaustin 12 • June 2023 • Texas Real Estate Business Subscribe to the twice-weekly Texas Real Estate Business e-newsletter at www.francemediainc.com www.REBusinessOnline.com
Texas Real Estate Business June 2023: 12
