Mohr Capital, a Dallas-based privately held real estate investment firm, has secured a lease expansion and extension with Arrive Logistics (Arrive), a leading freight brokerage providing strategic solutions for both customers and carriers, at MetCenter Business Park in Austin.
Mohr Capital collaborated with Arrive to negotiate the freight brokerage’s lease expansion from an initial 78,000-SF flex space in MetCenter Buildings 14 and 15, to an additional 38,000-SF space in Building 15 for a total of 116,000 square feet. Arrive currently has more than 850 Austin-based employees already working out of the newly added extension to the campus.
“The trend in tech and logistics companies seeking flex office/industrial space outside of Austin’s urban core has only continued to grow,” said Rodrigo Godoi, managing director of investments for Mohr Capital. “Arrive Logistics is a perfect example of a credit tenant on the cutting edge of its real estate strategy. We’re pleased to have worked with the company to negotiate its lease expansion and long-term occupancy in one of Austin’s most desirable mixed-use business parks.”
Arrive Logistics is one of the fastest-growing freight brokerages in the nation, with exponential growth in both size and revenue yearly since its founding in 2014. Arrive is planning to hire more than 1,000 people in the next 12 months, a strategy that this expansion supports. Headquartered in Austin with an office in Chicago, Illinois, Arrive has been recognized by Inc. Magazine as both a Best Workplace and an Inc. 5000 Fastest-Growing Private Company.
“Over the past seven years, Arrive has made a significant investment in the growth of our technology and sales teams to meet the evolving needs of the logistics industry,” said J-Ann Tio, chief strategy officer for Arrive Logistics. “We’re thrilled to be able to offer our organization a best-in-class working environment built intentionally to support Arrive’s continued growth and investment in the city of Austin.”
In 2019, Mohr Capital acquired its 404,800-SF MetCenter portfolio from Zydeco Development. At the time, the portfolio consisted of MetCenter Building 3, a 160,000-SF industrial warehouse/logistics building occupied by Amazon and Uber Technologies, and MetCenter Buildings 12-15, a 244,800-SF office facility occupied by Arrive, Ascension Seton, Austin Java and the State of Texas Health and Human Services Commission.
In May 2021, Mohr Capital sold MetCenter Building 3 and an adjacent 20-acre parking lot that is 100% occupied by Amazon Services LLC. Buildings 12-15 are currently occupied by Arrive, Ascension Seton, Texas Health and Human Services Commission and Power Home Remodeling.
MetCenter is a 550-acre, Class A, mixed-use business park located 10 minutes from Austin’s urban core and adjacent to Austin-Bergstrom International Airport. The park features immediate access to the city’s major thoroughfares, including Highway 183, U.S. 290, Highway 130, Highway 71 and Interstate 35.