INDUSTRIAL INCREASES
The demand for speculative—new space not yet leased—industrial development in Georgetown has increased as land along I-35 lls up in the Austin metro.
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1 CROSSPOINT BUSINESS DISTRICT Type: Industrial, commercial, multifamily Address: not determined; however, groundbreaking was held o the south- bound I-35 frontage road, southwest of FM 972 Space: 224 acres, 488,000 sq. ft. Timeline: summer 2023 PHOTOS BY HUNTER TERRELL COMMUNITY IMPACT NEWSPAPER
NORTHPARK35 Type: Speculative industrial park Address: 101 Velocity Drive Space: 146 acres, 799,736 sq. ft. Timeline: Phase 2 expected to be complete in June 2
GATEWAY35 Type : Two-phase industrial park Address: 2550 S. I-35 Space: 114 acres, 714,677 sq. ft. Timeline: expected to be complete by June 3
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as Georgetown’s largest private employer. On Feb. 22, the Georgetown Eco- nomic Development Corp. entered into a two-part incentive agreement with CelLink totaling $3,025,000. Williamson County Commissioners also struck a deal with the developers: Titan Gateway35 will receive a 50% tax abatement on the value of the land and CelLink’s building, while CelLink will receive a 75% tax abatement for personal property, which includes fur- niture, xtures and equipment. The city of Georgetown unan- imously approved a similar tax break—50% on land, 75% on business property—estimated to total nearly $2.2 million over 10 years. The county’s agreement stipulates that CelLink will provide internships and employment opportunities for students in Georgetown ISD. “We’re not abating 100% of the tax,” Precinct 3 Commissioner Valerie Covey said previously. “The fact that they are coming here and will be pay- ing taxes will benet us more than if they didn’t come at all.” The second phase of the park will have two more industrial facilities totaling 420,380 square feet. Since beginning construction on NorthPark35 and Gateway35, Titan
has leased space to CelLink, Amazon, Texas Speed & Performance, GAMA, Schunk Xycarb and Aeronet Logistics. Also developing in the area is Jackson-Shaw Real Estate Group, a national real estate development company headquartered in Dallas. It closed on 224 acres located west of I-35, north of Hwy. 195 and south of CR 143 in February. The company will develop the prop- erty into the CrossPoint Business Dis- trict, which council approved for a tax increment reinvestment zone, or TIRZ. This TIRZ allows for new taxes to be reinvested in the site. Phase 1 is on 61.7 acres and will have three buildings totaling 488,000 square feet. Additional phases on the remaining 162.3 acres are projected to have a combination of indus- trial, commercial and multifamily developments. “We foresee a record year for com- mercial real estate investment, par- ticularly for sought-after industrial and multifamily assets,” said Grant Pearson, vice president of develop- ment at Jackson-Shaw, in February. “CrossPoint Business District is an excellent example where the city of Georgetown has remained steadfast in its focus on expanding employment opportunities while preparing for the
strategic growth that everyone knows will come.” Onx Homes, a modular home man- ufacturer based in Florida, signed a lease for Building 1 of Phase 1 for a total of 204,000 square feet. “We are excited to partner with Jackson-Shaw to not only bring a qual- ity business like Onx Homes to our northern quadrant but also to com- plete a major infrastructure project that will pave the way for develop- ment in this area,” Georgetown Mayor Josh Schroeder said in a release. In mid-April, Jackson-Shaw broke ground on Phase 1, which is slated to be nished in summer 2023. On the south side of the city at 1310 Blue Ridge Drive, Stonemont Finan- cial Group announced March 24 it acquired an 18-acre site for the devel- opment of Westinghouse35, another speculative industrial space, totaling 230,000 square feet. “With the industrial landscape of Central Texas growing at an acceler- ated rate, it was a natural decision to plant our ¦ag in the region and utilize our spec development expertise to help address the needs of the market,” Stonemont CEO and Managing Princi- pal Zack Markwell said. The latest to le for a building per- mit is Portman Development for a
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“With limited land availability in North Austin and Round Rock, developers started to look more into Georgetown,” Dollar said. One after another Titan Development broke ground on its second spec project, Gateway35 Commerce Center, in February. “Titan’s NorthPark35 & Gateway35 location at the intersection of two major highways is a perfect spot for manufacturers and distribution com- panies looking to reach anywhere in the Austin metro and beyond,” said Joe Iannacone, Titan senior vice presi- dent, in an interview with Community Impact Newspaper. Slightly smaller than its sister property, Gateway35 is a 114-acre, two-phase industrial park slated for completion by June. The rst phase of Gateway35 will include a Class A, 294,297-square-foot space, which will be leased by CelLink Corp., an electronics technology com- pany that makes wiring systems for electric vehicles and battery packs. Dollar said CelLink is expected to bring an estimated $130 million investment into the area and about 2,000 jobs, potentially ranking it
2022 QUARTER 1 INDUSTRIAL SPACE UNDER CONSTRUCTION
2022 QUARTER 1 TOTAL RENTABLE SPACE
INDUSTRIAL USE Real estate rm CBRE provides quarterly data on development in the Austin metro area, including the total square footage of industrial space and how much is available for lease.
1,716,628 SQ. FT. Georgetown
Round Rock
176,534 SQ. FT.
57,948,513 SQ. FT. Austin metro total
Georgetown
1,716,628 SQ. FT.
SOURCE: CBRECOMMUNITY IMPACT NEWSPAPER
22
COMMUNITY IMPACT NEWSPAPER • COMMUNITYIMPACT.COM
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