Durcon Breaks Ground On 32K SF Expansion Of Taylor Facility
Durcon has broken ground on an expansion for its longtime facility in Taylor, Texas, outside of Austin.
Durcon has broken ground on an expansion for its longtime facility in Taylor, Texas, outside of Austin.
The property saw its valuation slashed from $200M after Simon Property Group gave it up to its lender in 2021.
The development is coming at a time when industrial vacancies in the Austin area are at a two-decade high.
A boom in aerospace demand is creating new demand for factory construction and second-order real estate development.
The transaction is Mapletree's fourth U.S. warehouse portfolio sale in the past year.
The facility, being built for a mystery user, could expand up to 980K SF.
Shareholder Sieve Capital is calling for the company to look into all strategic measures available to boost shareholder value and become a profitable REIT.
Amazon will lease the 615K SF warehouse for 10 years.
It is part of a planned $1B investment by the energy technology company in U.S. manufacturing in six states.
ICE has now closed on 10 warehouses for a total of more than $800M. It plans to convert the warehouses into detention centers.
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