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The property saw its valuation slashed from $200M after Simon Property Group gave it up to its lender in 2021.
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The development is coming at a time when industrial vacancies in the Austin area are at a two-decade high.
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A boom in aerospace demand is creating new demand for factory construction and second-order real estate development.
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The transaction is Mapletree's fourth U.S. warehouse portfolio sale in the past year.
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The facility, being built for a mystery user, could expand up to 980K SF.
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Shareholder Sieve Capital is calling for the company to look into all strategic measures available to boost shareholder value and become a profitable REIT.
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Amazon will lease the 615K SF warehouse for 10 years.
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It is part of a planned $1B investment by the energy technology company in U.S. manufacturing in six states.
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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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Lowell city councilors say they want the pause to update their regulations and study the effects future data center development may have on the community.
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