Quannah Partners Capitalizes Park79 Commerce Center, a 362,000 SF Industrial Development Adjacent to Samsung Plant in Taylor, TX

November 25, 2024

Taylor, TX - Quannah Partners(“Quannah”), in partnership with MarGulf Management Inc. (“Mar-Gulf”) and MDI Capital, LLC (“MDI”), the
international real estate subsidiaries of Kuwait Financial Centre (“Markaz”), successfully capitalized an investment in 35 acres for the speculative industrial development of three Class A rear-load buildings totaling 362,000 square feet in Taylor, TX (Austin MSA) (the “Property”). Quannah acquired the land in January 2024, with Colorado-based Lightning Tree Capital. The Property is less than one mile from the entrance to the $45 billion Samsung Chip Plant currently under construction. Park79 Commerce Center will be breaking ground in December 2024 and will deliver all three (3) buildings and infrastructure in the Summer 2025.

Each of the three buildings comprising Park79 Commerce Center (“Park79”) will feature 32’ clear heights, ESFR sprinklers, dock-high doors, 185-foot truck courts and trailer parking. Each building will also deliver with +/-3,000 square feet of office space, white-boxed warehouse space, LED lighting throughout the warehouses, oversized dock doors with ramps and four (4) dock-levelers per building. The buildings have been designed to accommodate tenants ranging in size from 30,000 square feet to 132,000 square feet.

Park79 is the last property in the immediate area with existing utilities from the City of Taylor and zoned for industrial use. The site is situated on Highway 79 with frontage at a four-way lighted intersection at the expanded County Road 401 which serves as the main artery to the Property. County Road 401 has already been expanded from Highway 79 to Samsung’s Phase I plant, thus providing direct access to the new four million square foot Samsung Advanced Chip Manufacturing Plant, a ~$20 billion development currently under construction with expected delivery in early 2025 (Phase II is an additional ~$25 billion development). The Property’s close proximity to the Samsung entrance will allow Samsung service providers/vendors direct access to the plant via the recent County Road 401 expansion.

“This site in Taylor represents the single best development opportunity for prospective Samsung vendors who want to be close to the fab facility and within the Taylor city limits,” said Jeff Stringer, Quannah’s Senior Director of Development. “Demand is not coming exclusively from Samsung vendors but also businesses that support the booming population growth in Taylor, Hutto, and Georgetown. We are excited to work with Mar-Gulf, MDI and Veritex Bank who share our vision for this development which is critical for the growth in Taylor.”

The team includes Rosenberger Construction as the general contractor, Powers Brown Architecture as the architect and Pape-Dawson Engineers as the civil engineer. Veritex Bank will provide the construction loan and JLL Austin is the exclusive leasing brokerage firm for this project. For leasing inquiries please contact Zane Cole (Zane.Cole@jll.com) or Kyle McCulloch (Kyle.McCulloch@jll.com) or by phone at 512-225-2700.