Lincoln Property Company Breaks Ground on 894K-Square-Foot Industrial Development in Central Texas

Lincoln Property Company, a global full-service real estate firm, and JV partner Real Estate at Goldman Sachs Alternatives have broken ground on an 894,000-square-foot industrial development located along FM 110 in Kyle, Texas. CTX 110, formerly known as Waterstone, is expected to be complete during the fourth quarter of 2025.

CTX 110 will include four Class A facilities that range in size and scale:

• Building 1 will include 152,940 square feet and offer 32” clear height, 247 parking spaces, 54 dock-high doors and 2 drive-in doors.
• Building 2 will include 188,940 square feet and offer 32” clear height, 264 parking spaces, 52 dock-high doors and 2 drive-in doors.
• Building 3 will include 215,940 square feet and offer 36” clear height, 280 parking spaces, 48 dock-high doors and 2 drive-in doors.
• Building 4 is the largest facility, spanning 335,879 square feet with 36” clear height, 203 parking spaces, 78 dock-high doors and 4 drive-in doors.

“CTX 110 is a unique project in its ability to seamlessly serve both major markets in Central Texas, Austin and San Antonio, which are less than an hour’s drive from the site via I-35,” said Cole Kennedy of Lincoln’s Austin office. “With the surge in population growth that these markets have experienced in the last few years, the demand for modern logistics space has continued to grow along with it. These facilities will be within a 90-minute drive of nearly 5.5 million people, making the location ideal companies looking to enter or expand their footprint and make an impact on their operations in Central Texas.”

“This development is aligned with our thematic approach of targeting demand generated from near-shoring dynamics, new economy labor pools and attractive demographic trends” said Chance Monroe, Managing Director within Real Estate at Goldman Sachs Alternatives

Affinius Capital provided the construction loan for the project. Pape Dawnson is acting as the project’s engineer and Powers Brown is the architect of record. Jim Cotton of McAllister & Associates brokered the land deal for the JV. Kyle McCulloch of JLL is handling leasing for the property.

About Lincoln Property Company

Lincoln Property Company (“Lincoln”) is one of the largest private real estate firms in the United States. Offering a fully integrated platform of real estate services and innovative solutions to owners, investors, lenders and occupiers, Lincoln supports the entire real estate lifecycle across asset types, including office, life science, retail, industrial, data center, production studio, healthcare, government, universities, and mixed-used properties, throughout the United States, United Kingdom, and Europe. Lincoln’s combined management and leasing portfolio on behalf of institutional clients includes more than 557 million square feet of commercial space. In addition to providing third-party real estate services, Lincoln has completed over 150 million square feet of development since its inception in 1965 and has another $20 billion currently under construction or in the pipeline. For more information, visit: www.lpc.com.

About Real Estate at Goldman Sachs Alternatives

Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $500 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, hedge funds and sustainability. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs. The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets. The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. Goldman Sachs has over $3.1 trillion in assets under supervision globally as of September 30, 2024. Established in 1991, Real Estate at Goldman Sachs Alternatives is one of the leading investors in real estate with over $60 billion in capital invested since 2012 across the spectrum of investment strategies from core to opportunistic and credit. The global team invests across all sectors with deep expertise across the capital structure, in assets ranging from single properties to large portfolios, through senior mortgages, mezzanine debt and equity.