Pecan 130 Business Park in Pflugerville fully occupied nearly two years ahead of schedule
PCDC meets its obligation for development
The Pflugerville Community Development Corp. announced Tuesday that two buildings at Pecan 130 Business Park are now fully occupied by businesses that brought more than 230 direct jobs to the city.
Filling the combined 240,000 square feet of office space allows the PCDC to step out of its obligation to guarantee rents at Pecan 130 Business Park per a master lease agreement almost two years ahead of schedule, according to a release from PCDC.
Per the MLA, PCDC pre-leased 50 percent of space in the first building constructed by 130 Commerce Center LLC at Pecan 130 Business Park. PCDC was required to hold the master lease until credit-worthy tenants occupied the building, subleasing space to businesses including Tracking Point, Inc., and EOS North America—the first business with North American headquarters located in Pflugerville.
In a joint special meeting Nov. 28, the PCDC Board of Directors and the Pflugerville City Council approved an action to dissolve the MLA and transfer the subtenancies directly to 130 Commerce Center LLC.
Pecan 130 Business Park was the first light industrial building constructed on the SH 130 corridor. PCDC Executive Director Amy Madison said pre-leasing the space was critical to encouraging the development, which was considered risky at the time. The MLA was established prior to breaking ground on the project to spur development along SH 130 in Pflugerville.
“We needed commercial buildings on the ground to be able to attract businesses, so we pre-leased half of the space to ensure that the buildings would be built,” Madison said. “This allowed us visibility on the brand new highway for warehouse, distribution, logistics and research and development companies. We are in the business of economic development, and this project is certainly a success with 240,000 square feet of office space fully occupied in these two buildings. Now it is time to give the project back to the marketplace.”
In November 2012, 130 Commerce Center LLC broke ground on the first of the two 120,000-square-foot light industrial office buildings to create Pecan 130 Business Park.
“Back in 2012, Pflugerville did not have vacant office space, but today we celebrate at least 230 more jobs because of the master lease agreement the City Council and PCDC put in place at that time to encourage the development of this project and encourage businesses to come to Pflugerville,” said Jeff Coleman, mayor of Pflugerville until 6:45 p.m. Tuesday, when Victor Gonzales was sworn in as the newly-elected mayor. “We have attracted quality employers to the city because of our economic development strategy. The 130 Commerce Center can now stand on its own without the need for PCDC support.”
Companies located at Pecan 130 Business Park include: D-BAT Austin; EIEIO, Inc.; EOS North America; Finspeed; Gruene Environmental Companies; LifeLast, Inc.; Platinum Gymnastics Academy; RedLine Athletics and TrackingPoint, Inc.
In 2008, the PCDC bought a 167-acre tract of land to develop 130 Commerce Center, which now includes Pecan 130 Business Park. Three hotels, a 20,000-square-foot conference center, five national headquarters, one North American headquarters, and more than 822 jobs are located at 130 Commerce Center.
Joe Warner, Community Impact, 11/29/16, communityimpact.com