Argosy Real Estate Partners has closed on the acquisition of 904 Leander Drive, a 3.3-acre industrial outdoor storage (IOS) property improved with an 8,940 square foot building located in Leander, Texas, near Austin.
The off-market acquisition represents the second investment within the Sunbelt Industrial Portfolio, a strategy focused on aggregating small-format IOS and light industrial assets across key growth markets throughout the Sun Belt region. The Austin MSA is among the fastest-growing metropolitan areas in the United States, with strong demand from infrastructure, utility, telecommunications and industrial service users.
The property’s functional layout makes it well suited for contractors, infrastructure companies and other industrial occupiers seeking operationally critical facilities in the Austin market. The business plan includes leasing the property to an industrial user and capitalizing on growing demand for functional IOS assets in supply-constrained
