Manulife Investment Management has successfully acquired a 183,340-square-foot Class A industrial facility in Taylor, Texas, which is fully leased by Tesla for a 10-year term. The acquisition was financed with a $32.2 million, three-year, fixed-rate loan provided by BMO. The deal was arranged by JLL, with Partners Real Estate acting as the seller.

Located in the RCR Taylor Logistics Park, the warehouse is strategically positioned to benefit from its proximity to key infrastructure and future developments. The park is served by Union Pacific and BNSF railroads and is the only such facility in the greater Austin area. It offers easy access to major highways including Texas State Highway 79, Farm-to-Market Road 3349, and Interstate 35, making it an attractive location for industrial operations.

The facility, completed in 2025, features advanced infrastructure, including four dock-high doors, eight grade-level doors, five cranes, and a rail entry linked to the RCR network. Tesla's long-term lease agreement aligns with the growth of the region, especially considering the nearby Samsung semiconductor campus, set to open next year, which will be producing chips for Tesla as part of a $16.5 billion deal.

Manulife’s global real estate platform now manages 91.1 million square feet of assets. This acquisition is part of the firm's ongoing strategy to expand its industrial portfolio, which earlier this year included a partnership with Harel Insurance Investments to acquire a cold storage facility in Jacksonville, Florida.

While industrial loan originations have surged, Austin’s industrial real estate market has seen a decline in transactions. Yardi Research Data reports an 8.6% drop in industrial product sales across the metro Austin area in the first seven months of 2025, compared to the previous year. Despite this trend, major deals such as the Manulife acquisition underscore the continued investor interest in Texas’ growing industrial sector.