Georgetown is getting more than a million square feet of new industrial space.
A subsidiary of Salt Lake City-based Bridge Investment Group Holdings bought more than 92 acres along Interstate 35 with plans to develop 1.1 million square feet of industrial space across seven buildings, the Austin Business Journal reported.
The purchase price wasn’t disclosed. The assembled acreage comprises eight parcels, which the Williamson County Appraisal District collectively valued at a little over $1 million in 2022.
The project at 5501 South Interstate 35, about 25 miles from central Austin, will be called Bridge Business Park. Annexation and zoning requests for the property were approved earlier this year.
Bridge Logistics Properties has previously said the development will include 30,000 square feet of office space as well as multiple buildings for warehouse and light distribution. The largest building will be 298,000 square feet and the smallest will be 77,800 square feet. The development will include amenities like walking trails, an outdoor pavilion and pickleball courts.
Construction is set to begin in the fourth quarter of this year, with plans for the project to be completed by the end of 2025.
The Austin area has been experiencing an industrial construction boom. Provident Realty Partners plans to build the Wildhorse Business Park, a 657,300-square-foot shell warehouse/office complex in Manor for $36.8 million.
In November, Los Angeles-based ReadySpaces opened its first co-warehousing location in Round Rock. The 119,000-square-foot industrial facility is located at 2700 Louis Henna Boulevard.
Austin had about 8.3 million square feet of industrial under construction back in July, and the market continues expanding. Dallas-based Stillwater Capital is building a $40 million 451,000-square-foot shell warehouse in southern Travis County that will begin construction next year.
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Commercial
Austin
Provident Realty plans $37M warehouse in Austin outskirts
— Victoria Pruitt