By Parimal M. Rohit – Austin Business Journal
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. 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.
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.