- Location: Austin, TX
- Client: LKQ Corporation
- Size: 126,782
- Type of Project: Industrial
- Service Type: Tenant Representation
– LKQ Corporation (Nasdaq: LKQ), a Fortune 500 company, is North America’s largest provider of alternative collision auto parts, and a leading provider of recycled and remanufactured mechanical parts including engines and transmissions, all in connection with the repair of automobiles and other vehicles.
– Their industrial warehouse requirement was projected to increase from 50,000 SF to 100,000-150,000 SF, immediately.
– The number of existing contiguous blocks of Class-A product exceeding 100,000 square feet were extremely limited at the time the transaction was completed.
– Austin’s industrial market, the city’s smallest commercial sector in terms of transactional and construction activity, remains healthy for a city that is not as well-positioned for large scale distribution initiatives as are cities like San Antonio or Houston.
– Negotiated the lease for LKQ at Heritage Crossing, a new development owned by Clarion Partners.
– 126,782 SF with expansion options will provide LKQ the ability to grow if needed.