Cedar Park Sees New Industrial Development Plans
Cedar Park, Texas, is set to welcome significant new developments in the coming years. Recently, Freehill Development Co., an Austin-based company known for its focus on shallow bay industrial projects, has announced plans to construct a pair of single-story industrial buildings in the area.
On October 11, Freehill filed documents with the Texas Department of Licensing and Regulation outlining their vision for a new project named Freehill RR620. Located at 12332 Ranch Road 620, this ambitious project will cover approximately 63,000 square feet and is expected to cost around $10 million.
Project Timeline and Features
According to the documents submitted, construction is scheduled to kick off in January 2024, with the goal of completing the project by January 1, 2026. However, the company’s website mentions an earlier completion target, aiming to wrap up by the third quarter of next year. This main complex will feature 10 turnkey suites, designed with building depths ranging from 95 to 115 feet.
Freehill’s Growing Portfolio
Freehill Development Co. is relatively new, having been founded in 2022. Since then, it has been active in the Central Texas area, focusing on developing substantial industrial spaces across various cities, including Leander, Georgetown, San Marcos, and even areas northeast of San Antonio. In addition to the upcoming Freehill RR620 project, Freehill is also working on a 36,500-square-foot development at 1621 Scottsdale in Cedar Park, which is also expected to be completed in the third quarter of next year.
Market Demand for Flexible Industrial Space
The demand for flexible industrial space is on the rise in Austin’s suburbs, largely due to the region’s rapid population growth. The Austin area currently has around 22.5 million square feet of similar project spaces available, with a significant portion found in the heart of the metro area, specifically in the north and northwest sectors. This trend is shifting as more than 500,000 square feet of industrial space is under construction, particularly in the Georgetown-Round Rock areas, and the southwest and northwest markets.
Cedar Park’s Economic Landscape
Cedar Park itself is located about 20 miles northwest of downtown Austin and boasts a population of around 78,000 residents. The city has become a hub for several high-tech companies, including Firefly Aerospace Inc. and Hyliion Holdings Corp., alongside numerous firms involved in the semiconductor supply chain. This vibrant economic environment makes Cedar Park an attractive site for industrial projects.
As construction plans move forward, Cedar Park looks poised for continued growth and development in its industrial sector. The upcoming projects from Freehill Development Co. are just one example of how the local area is expanding to meet both current demands and future needs.
