Tesla has taken a 682,000-square-foot speculative industrial building in the Austin Hills Commerce Center, marking a major real estate expansion for Elon Musk's companies in Central Texas. The property at 11801 Decker Lake Road is the second phase of the development, with completion slated for January 2027.
The company's plans for the sprawling space remain undisclosed. The lease adds to a growing portfolio of Musk-affiliated holdings in the region, which already includes Tesla's Gigafactory and SpaceX facilities.
This deal underscores demand for industrial space around Austin, where tech and manufacturing firms continue to flock. The building is part of a larger commercial development targeting logistics and advanced manufacturing tenants.
Tesla's expansion comes amid broader shifts in corporate real estate strategy, with many firms consolidating in hubs like Texas. The state's business-friendly policies and lower operating costs remain draws for large-scale industrial users.
While the lease bolsters Tesla's operational capacity, details on job creation or specific production lines are absent. The move follows similar expansions by other automakers seeking to scale electric vehicle output.