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Crane Watch: Another big industrial development coming to Georgetown

By Parimal M. Rohit – Staff Writer, Austin Business Journal

Sep 9, 2021 Updated Sep 10, 2021, 12:53pm CDT


Texas-based Stonelake Capital Partners LLC announced plans for a 50-acre, 625,000-square-foot warehouse/distribution site in Georgetown.

STONELAKE PROPERTIES


Georgetown continues to be a hot spot for industrial development. Texas-based Stonelake Capital Partners LLC recently announced plans for a 50-acre, 625,000-square-foot warehouse and distribution site in the Austin suburb.

Georgetown Logistics Park will feature three buildings along Aviation Drive, just east of Georgetown Municipal Airport and near the intersection of I-35 and the State Highway 130 toll road.


Stonelake is developing the industrial project on a speculative basis, meaning no leases have been signed. Construction is expected to start in the first quarter of 2022, with the first delivery of space scheduled for Q3 2022. Construction would be completed by Q1 2023.


“The financial strength of Stonelake will allow us to develop Georgetown Logistics Park on speculative basis in order to capitalize on the growing demand for larger tenant warehouse space driven by e-commerce, last mile delivery and manufacturing tenants," Travis Eickenhorst, the Stonelake partner responsible for the development, said in a statement.

The first phase of the development will be a 431,360-square-foot cross-dock building. Eikehorst and Stonelake's John Detamore will handle leasing. There are at least 92 active tenant searches in metro Austin for industrial space, according to a Q2 industrial report from Aquila Commercial LLC. Of those, 26 are for Williamson County and another 17 are seeking space in North or Northeast Austin. About 1.7 million square feet of the 12.6 million square feet being sought is Tesla-related, Aquila found.

Industrial leasing activity eclipsed 2.7 million square feet last quarter, according to a report from Jones Lang LaSalle Inc. That was double the three-year quarterly leasing average. The addition of Georgetown Logistics Park will boost Stonelake's Austin-area industrial portfolio to about 1.5 million square feet across 28 buildings. The firm deals in other asset classes, like plans for a a 37-story residential high-rise at the former Carmelo’s restaurant site, 504 E. Fifth St. in downtown Austin.

That was just one of the projects recently added to our Crane Watch database, which tracks commercial construction across the region. Below are a few others — and scroll to the bottom of this story for an interactive map featuring info on more than 300 projects. Dirt moves at 1515 Cesar Chavez

Ground has been broken for an office development in East Austin, JLL announced Sept. 8. The three-story, 71,632-square-foot building at 1515 E. Cesar Chavez St. is 100% available and set for tenancy in August 2022. 1515 Cesar Chavez, as the project is called, is directly across from EastSide Tavern and four blocks from the Plaza Saltillo train station.

JLL’s Brent Powdrill, Kevin Kimbrough and Bethany Perez are handling leasing for 1515 Cesar Chavez.

“Technology and creative professional tenants continue to be attracted to new office construction in East Austin as the neighborhood continues to rapidly attract the latest restaurants, bars and after work entertainment,” Powdrill said in a statement. “1515’s creative boutique design coupled with its proximity to Austin’s downtown and Capitol Metro’s Plaza Saltillo Station will provide ample opportunity for employers to recruit and prioritize work-life balance through easy access to one of Austin’s most talked about neighborhoods.”

On-site amenities to be featured at 1515 Cesar Chavez include underground parking, private terraces offering downtown views, showers and secure bike storage. Austin's Urban Foundry Architecture and Chioco Design LLC are architects, while Austin-based Structura Inc. is the general contractor. Austin-based Dwg is the landscape architect.

Texas State has new lab in works

Officials with Texas State University in San Marcos gathered Aug. 31 to mark the start of construction of the school’s Infrastructure Research Laboratory, or IRL. IRL will be an 11,471-square-foot facility at 327 W. Woods St. and will support Texas State’s Ingram School of Engineering. The building has a price tag of $14 million, according to Texas State.

IRL is part of an effort by Texas State "to develop practical, affordable ways to building more durable infrastructure faster and cheaper," according to an announcement. The new laboratory will be the third building at Texas State’s 58-acre Science, Technology and Advanced Research (STAR) Park. Other buildings at the science park are the 36,000-square-foot STAR One technology incubator and the Archives and Research Center.

San Antonio-based Bartlett Cocke General Contractors LLC is the general contractor and San Antonio-based Alamo Architects Inc. is the project architect. First classes are expected to start in fall 2022.



Originally posted on Austin Business Journal

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