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Manulife Investment Management has acquired a 183,340-square-foot Class A industrial asset in Taylor, Texas. BMO issued a three-year, fixed-rate $32.2 million acquisition note in a deal arranged by JLL. Partners Real Estate sold the facility.

Tesla inked a deal to fully lease the property for 10 years. The warehouse is near Samsung’s upcoming $17 billion semiconductor campus, set to become operational next year. Just last month, the two companies signed a $16.5 billion contract whereby the South Korea-based manufacturer will produce chips for Tesla at its forthcoming Taylor facility.

The warehouse is within RCR Taylor Logistics Park, a 750-acre master-planned industrial campus served by Union Pacific and BNSF—the only such property in greater Austin. The park has direct frontage to Texas State Highway 79 and Farm-to-Market Road 3349, providing direct access to interstates 35 and 79, as well as Texas State Highway 130.