Report: Fashion giant Chanel to build on 50 acres in Austin

Austin Business Journal

French fashion giant Chanel S.A. has lined up 50 acres near Austin-Bergstrom International Airport for a manufacturing warehouse, according to the Austin American-Statesman.

Deed records show a real estate holding company called Tmine Inc., which is connected to Chanel, bought the site earlier this year within the budding Velocity Crossing development, the Statesman reports. Chanel declined to comment to the newspaper, but developers at Austin-based Marketplace Real Estate Group confirmed a land sale of that size was executed recently.

The land has been appraised for tax purposes at $2.87 million, according to the Statesman, but likely sold for more.

HEB Grocery Co. bought land in Velocity Crossing in 2016.