Titan Development, a full-service development company, through Titan Development Real Estate Fund I (TDREF I), has broken ground on Titan Industrial Park: New Braunfels – Building 1. It is a 154,057-square-foot speculative industrial building on approximately eight acres.
With construction under way by MW Builders, the project has an anticipated October 2019 completion.
Titan Industrial Park: New Braunfels – Building 1 is the fund’s third industrial project being developed along the I-35 corridor from Austin to San Antonio.
TDREF I was established in late 2017 to invest equity in Titan Development’s existing pipeline as well as other opportunities. The $200 million equity fund prioritizes asset diversity (multifamily, self-storage, senior living, and industrial) in secondary and tertiary markets. The fund has a unique strategy that mitigates risk by committing equity after pre-development, when construction is imminent. The 22-project pipeline creates a “hybrid-direct” investment opportunity that promotes swift deployment of capital. To date it has committed $103 million to 18 projects.
Titan Industrial Park is being marketed for both sale and lease by Darryl Dadon, Josh Aguilar and Rob Burlingame with CBRE.
Dadon, a first vice president at CBRE, said, “Once complete, Titan Industrial Park will offer industrial users a prime, class A space to execute their business plans and supply chains in both the Austin and San Antonio markets. The proximity of New Braunfels to Austin and San Antonio makes it the perfect location for industrial users servicing both markets.”
The newest project in the surrounding 96-acre master plan, Titan Industrial Park: New Braunfels – Building 1 follows 2017’s completion of the Canadian General Tower manufacturing plant and 2018’s 450-foot road extension within the park. Situated along the I-35 corridor within a rapidly growing community primed for further development, the speculative building has proximity to excellent transportation networks, within a 30-minute drive to both Austin and San Antonio, and a pro-business leadership, tax and regulatory environment.