Manhattan Beach, Calif. — December 15, 2025 — Circle Industrial, an investment manager focused exclusively on industrial real estate in U.S. growth markets, has acquired the I-35 Logistics Center, a 397,600-square-foot Class A distribution building located in New Braunfels, Texas. The asset sits directly along the I-35 corridor, between Austin and San Antonio, one of the fastest-growing regions in the United States, and offers exceptional freeway visibility and direct ingress/egress to Interstate 35.
Completed in 2017, the I-35 Logistics Center features 32-foot minimum clear heights, ESFR sprinklers, LED warehouse lighting, a 280-foot building depth with a 60-foot speed bay, 82 loading doors (1 per 4,849 SF), and an expandable 135-foot truck court. The building was designed to serve modern distribution and logistics users seeking efficient transportation routes and proximity to abundant labor.
The property is 100% leased to a diverse array of tenants with a WALT of 7.8 years and includes 2.6 acres of excess land. Strategically positioned between San Antonio and Austin, the asset is in Comal County, which ranks as the 4th fastest-growing county in the United States with a 29% population increase over the past five years. More than 1.3 million people live within 25 miles of the building, supplying a deep and expanding labor pool. The property, acquired below replacement cost, exemplifies the type of high-quality, well-located industrial asset that underpins Circle Industrial’s value oriented acquisition strategy.
“We are excited to be back in the Austin/San Antonio market following our previous ownership of the Amazon Schertz facility. This asset provides excellent cash flow and a long enough WALT to work through the current supply. The WALT also provides time for the story of Austin and San Antonio becoming one market to develop, similar to Dallas-Fort Worth.” said Rob Mullahey, Senior Associate for acquisitions at Circle Industrial
The seller, Westcore, was represented by Jeff Chiate, Jud Clements, and Trevor Berry of Cushman & Wakefield alongside Joe Cesta, Jonathan Bryan, and Elliot Dow of CBRE.
Austin/San Antonio’s economic momentum continues to accelerate, fueled by significant corporate investment and one of the nation’s fastest-growing populations. Major employers such as Tesla, Samsung, Oracle, and a widening roster of technology, manufacturing, and logistics companies have expanded or relocated to the region in recent years, solidifying Central Texas as a premier hub for innovation and industrial growth. This continued influx of companies and talent is driving strong demand for modern distribution space – particularly along the I-35 corridor, where connectivity, labor availability, and population growth position assets like the I-35 Logistics Center for sustained long-term performance.
About Circle Industrial
Circle Industrial is an investment manager providing value-add returns through discretionary industrial real estate funds, with a focus on relative-value investments in U.S. growth markets. With more than 35 years of experience exclusively in industrial real estate, Circle delivers deep expertise in asset functionality and best-in-class operational decision-making.