
Denholtz Properties Acquires 213,125-Square-Foot Industrial Property in the Austin-San Antonio Corridor
29 March 2024
Acquisition is the company’s first in Texas as it continues national growth of portfolio
Denholtz Properties announces the acquisition of Clovis Crossing, a newly constructed, two-building, 213,125-square-foot industrial property in San Marcos, Texas, from Freehill Development Company.
Located approximately 30 miles from both Austin and San Antonio, the acquisition of Clovis Crossing marks Denholtz Properties’ entrance into the Texas commercial real estate market. The Class-A, shallow-bay industrial property spans 13 acres and features 32-foot clear ceiling heights, making it adaptable for a variety of tenants. Tenants benefit from easy access to both Austin and San Antonio via nearby Interstate 35. The property is also situated within the Texas Triangle, an area between Dallas-Fort Worth, Houston, and San Antonio with over 25 million residents, projected to grow by more than 65% over the next 40 years.
Positioned in the heart of the Texas Innovation Corridor—a 13-county region along Interstate 35—Clovis Crossing is close to five major universities and a talent pool of 1.3 million people. Major employers such as Amazon, Apple, Google, Tesla, and Whole Foods have a significant presence in the area, which also supports a thriving ecosystem of technology, life sciences, aerospace, security, defense, and IT businesses.
“With sustained population growth, a highly diversified regional economy, and access to one of the largest states in the nation, the Austin-San Antonio Corridor is an ideal market for us,” said Stephen Cassidy, President of Denholtz Properties. “We are excited to add Clovis Crossing to our rapidly expanding national portfolio and bring our unmatched asset management experience to Texas.”
Denholtz Properties' move into the Austin-San Antonio Corridor builds upon the Red Bank, N.J.-based firm’s recent expansion of its industrial and multifamily portfolios across the U.S. The company entered the Savannah, Ga. market with the acquisition of the three-building, 358,884-square-foot Coleman Industrial Portfolio. In the Nashville area, Denholtz Properties acquired 5150 JB Drive Apartments, a 384-unit multifamily community in Murfreesboro, Tenn. Additional recent acquisitions include Vida Apartments, a 289-unit multifamily community in Kannapolis, N.C.; 9201 Forsyth Drive, a 53,811-square-foot industrial property in Charlotte, N.C.; and Interstate Commerce Park, a 218,570-square-foot industrial portfolio in Greensboro, N.C.
Mike Klein and Jon Mikula of JLL New Jersey, along with Michael Johnson and John Beeler of JLL Austin, managed financing for the deal.