Georgetown Gears Up for Major Industrial Development
Georgetown, a city that’s been bustling with growth, is now set to welcome a significant new player in the industrial landscape. With the ever-expanding population and the rise of manufacturing hubs in nearby Austin, it’s no surprise that big names are starting to take notice!
What’s Happening?
Philadelphia-based EQT Exeter, one of the largest real estate management firms globally, is rolling up its sleeves and getting down to work on a 412,470-square-foot building in Georgetown. This project is part of EQT’s plan to bolster its presence in the Austin area and tap into its booming market. The company announced on December 6 that they expect to have this massive facility completed by next summer. Exciting, right?
A New Industrial Space
This class A industrial building will be strategically located at 600 Farm to Market Road 972 and will boast impressive features such as 36-foot clear heights. Last summer, EQT Exeter made a smart move by purchasing the 24.5 acres where this new building will rise, along with an adjacent 410,000-square-foot facility that currently houses a supplier for Tesla Inc. Talk about timing!
The GTX Logistics Park, where this project is taking place, could eventually host up to a staggering 3 million square feet of industrial space. EQT’s new building, often referred to as Building 2 at the park, is set to be “move-in ready,” which means it will include 2,500 square feet of office space, LED lighting, necessary dock equipment, and plenty of power and insulation. Perfect for new and established businesses looking to settle in!
Who’s Involved?
This project isn’t a one-man show. Several reputable firms are part of this exciting development. Companies like RGA Architects from Roanoke and Jacob & Hefner Associates Inc. from Frisco are just a few of the key players on board. Together, they’re creating a space that’s not just functional but also accommodating for various industries.
Why Georgetown?
Now, you might be wondering, why Georgetown? The reasons are clear. The area has been growing faster than a speeding bullet! It has been hailed as the fastest-growing city of its size for three consecutive years, boasting a population that’s nearing 100,000 residents. As it grows, so does its reputation as a manufacturing hotspot.
In recent years, several companies like TSS Inc., GAF Energy LLC, and CelLink Corp. have flocked to Georgetown, showcasing its potential as a prime location for industrial operations. With big names like Tesla and Samsung Electronics setting up shop in nearby areas, it only makes sense for EQT Exeter to want a slice of the action.
Expanding Their Reach
The plans for this new industrial hub aren’t just stopgaps; EQT Exeter is on a mission! In the last year alone, the company has boosted its real estate portfolio in the Austin metro from 1.5 million square feet to 4 million square feet. If you combine their efforts in San Antonio, that total skyrockets to 7 million square feet of industrial space!
They’re not stopping there either. EQT is eyeing more opportunities, including a recent purchase of a 218,400-square-foot building in Mustang Ridge — a facility for Tesla. They also made waves by acquiring a 450,000-square-foot building that produces solar parts. It seems that EQT is on the move, and it’s a thrilling time to watch how this will unfold!
The Bottom Line
So, there you have it! Georgetown is on the way to becoming a thriving industrial hub, and thanks to companies like EQT Exeter, it’s all in the works. As new developments pop up, and businesses flock to the area, the future is looking bright for this growing city. Keep an eye on Georgetown — it’s bound to become a cornerstone in the manufacturing scene of the greater Austin area!
