- Hillwood is marketing about 150 acres of Austin industrial land, with 118 acres entitled for a 1.4 million-square-foot logistics development called Premier Logistics Park.
- The site’s 2021 development permit expires this week, and listing broker Dry Water Land Company has not disclosed an asking price.
- The sale reflects Hillwood’s shift toward its master-planned residential pipeline, including a 1,000-acre Lockhart community and a $1.2 billion project near Fort Worth.
Ross Perot Jr.’s Hillwood is looking to sell about 150 acres in Austin entitled for the Premier Logistics Park development, according to The Real Deal.
Of the roughly 150 acres, 118 are entitled under a master plan for a 1.4 million-square-foot industrial project. A site development permit issued in 2021 for the project’s first phase is set to expire this week.
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The Original Plan
The six-building project called for three phases, according to the Austin Business Journal. The first phase included three buildings totaling 363,966 square feet. The second called for two buildings totaling 611,587 square feet. The third included a 271,000-square-foot building and a 143,478-square-foot expansion pad.
Developers have not disclosed plans for the parcel’s remaining acreage.
The Details
The site was positioned as a last-mile distribution hub. Target, United Parcel Service, Pepsi and the U.S. Postal Service all operate within a mile of the proposed development.
Alex Perry, managing principal of West Texas-based Dry Water Land Company, is marketing the property. He posted marketing materials on LinkedIn last week but did not disclose an asking price.
Zooming Out
The listing comes as Texas industrial demand remains strong elsewhere in the state. Industrial leasing in Dallas-Fort Worth set a new quarterly record this year. The trend highlights the continued demand for last-mile sites, even as some landowners choose to sell rather than build.
Why It Matters
The sale also signals a shift in Hillwood’s priorities. The company is pursuing a 1,000-acre master-planned community in Lockhart. It also closed on 618 acres near Pilot Point for its $1.2 billion Lantern project.
Those moves suggest large-scale residential development now takes priority over holding speculative industrial land.
What’s Next
The Austin site’s permit expires this week. A sale before then could determine whether a new owner must restart part of the entitlement process.
Either way, the listing adds another large industrial parcel to a market where big-box demand remains strong. It also shows that some landowners would rather cash out than develop.
