High-end furniture designer and wholesaler Four Hands added a big lease to its industrial portfolio in a move that nearly doubled the real estate it has under its control in its home region.
The Austin-based retailer has leased the entirety of the newly completed Building 2 at Airport Logistics Center totaling 570,489 square feet of industrial space at 6106 Ross Road in Del Valle, Texas, a suburb about 13 miles southeast of downtown Austin. The deal, which closed in the second quarter of 2024, has earned a 2025 CoStar Impact Award for Austin's lease of the year, as judged by a group of market real estate professionals.
Four Hands, a 29-year-old furniture designer and wholesaler for commercial and residential spaces, added to its leased space with a second showroom in a move aimed at fueling its distribution efforts not only in Austin but also to retailers and wholesalers across the country. The more than 800,000-square-foot industrial park, just under 5 miles from Austin-Bergstrom International Airport, was developed by Dalfen Industrial to appeal to tenants seeking a strategic last-mile location.
The furniture retailer expects to create about 200 full-time jobs to operate the facility, officials said, and boost the company's volume capacity by 60%. Four Hands worked with its landlord to come up with a creative lease allowing the retailer to move its furniture into the facility early and expand in the space as other multiple leases expire in the region.
About the deal: Dalfen Industrial, based in Dallas, acquired the 92-acre tract in November 2020 to make way for Airport Logistics Center, a two-building, 801,840-square-foot industrial park. Four Hands signed a seven-year lease for the bigger building.
What the judges said: The lease boosted Austin's absorption of industrial space in what was "the largest and most impactful lease of the year in Austin," said Rachel Coulter, a managing director at Stream Realty Partners' agency leasing team in Austin.
They made it happen: Ace Schlameus, senior managing director, JLL; Kyle McCulloch, executive vice president, JLL; John Lettieri, market officer, Dalfen Industrial; Chad Marsh, managing principal, Endeavor Real Estate Group.