The fast-growing city has attracted a wave of manufacturers and distributors
Dallas-based Jackson Shaw Co. has inked a pair of new leases at its 224-acre industrial park in Georgetown north of Austin that brings the first phase of the development to 85% occupied.
The developer announced on May 30 that Austin-based Control Panels USA Inc. has leased the entirety of the 146,000-square-foot building 2, while Ohio-based Clopay Corp. has leased 23,000 square feet of building 3 in Crosspoint Business District.
Control Panels USA plans to move into the space in January, while Clopay plans to move in this summer. The park is west of I-35, north of State Highway 195 intersection and south of County Road 143.
Neither company immediately responded to requests for comment, making it unclear how they intend to use the Georgetown space. Control Panels USA, which lists its headquarters as 16310 Bratton Lane in North Austin, is a manufacturer of control panels and relay rack assemblies across various industries. Clopay is a manufacturer of overhead doors for residential and commercial clients.
Jackson-Shaw vice president of development Miles Terry said that Control Panels USA plans to initially start with 130 employees and ramp up to 250 employees within five years, while Clopay plans to have between 15 and 20 employees at the site. He added that Control Panels USA is moving its entire operations to Georgetown.
They join Houston-based Grander, which is a distributor for cabinet and millwork manufacturers, and Onx Inc., a Carrollton-based vertically integrated modular builder, at the industrial park. Those two companies are expected to create more than 200 jobs between them.
“More tenants are looking to be on the north side of Austin, and CrossPoint is a standout choice with its excellent accessibility and visibility from Interstate 35, along with its direct access to one of the country’s fastest-growing markets,” Terry said in a statement.
With the announcement, Jackson-Shaw is closer to finishing the 62-acre, 488,000-square-foot first phase of the park that is spread across three buildings. The additional phases, totaling roughly 162 acres, remain in planning stages but are projected to include industrial, commercial and multifamily development.
The project includes Diamond Realty Investments as equity partner and CrossFirst Bank as lender. Joeris General Contractors is working on the project, with Powers Brown as the architect. Engineering firms are Westwood and Pinnacle Structural Engineering. Darryl Dadon and Olivia Reed with CBRE are managing the leasing assignment for the development.
The Georgetown City Council previously approved a slew of incentives for the business park, including establishment of a tax increment reinvestment zone to help pay for needed infrastructure improvements at the site. Council also passed a pair of agreements to reimburse Jackson-Shaw for the costs of constructing those improvements.
As part of the agreements, Jackson-Shaw could receive a total of $13.1 million in incentives: up to $8.5 million in tax increment funds gained by the city in the TIRZ that will help pay for an estimated $10 million sewer line, plus $4.6 million from the Georgetown Transportation Enhancement Corp. to construct Farm-to-Market Road 972 adjacent to the property.
In return, Jackson-Shaw is required to complete the first phase of construction, which includes at least 400,000 square feet of speculative industrial development, by June 2025. The company is also required to have at least $24 million in capital expenditures during the first phase.
Many manufacturers and distributors have been moving to Georgetown, which is about 30 miles north of downtown Austin and, according to U.S. Census data, is the fastest-growing city of its size, with a population nearing 100,000.
Companies that have set up shop in Georgetown in recent months and years include GAF Energy LLC, CelLink Corp., US Farathane Corp., Hanwha Advanced Materials LLC and ZT Systems.
Cameron Goodman, Georgetown’s director of economic development, said in a statement that “the Jackson-Shaw team have been strong partners in recruiting high quality projects to Georgetown, and we look forward to seeing additional companies locate in the CrossPoint business park.”
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