Berry Creek Business Park expected to be move-in ready next year
By Justin Sayers – Senior Staff Writer, Austin Business Journal
Jul 9, 2024
Houston-based Fidelis and Transwestern Real Estate Services have started work on a long-anticipated 521,000-square-foot industrial park in an emerging industrial hub north of Austin.
A groundbreaking took place recently for the Berry Creek Business Park, a three-building Class A industrial project on 57 acres at 3000 N. Interstate 35 in Georgetown, according to a July 8 announcement. Details of the project were first made public during a meeting of the Georgetown City Council in 2022.
The project is located at the intersection of I-35 and State Highway 130, which the developers said provides potential tenants with access to 20 million residents within a three-hour drive.
Berry Creek Business Park is expected to be move-in ready in February 2025. It will feature two rear-load buildings ranging from 126,722-square-feet to 140,685 square feet with 32-foot clear heights, as well as a 253,164-square-foot cross-dock building that will have a 36-foot clear height. It can accommodate tenants between 30,000 square feet and 253,000 square feet.
“It is exciting for Fidelis Industrial to be nearly at the midpoint of delivering this truly unique business park at the intersection of I-35 and Highway 130,” Fidelis President Kevin O’Neil said in the announcement. “We are looking forward to activating the Transwestern leasing team and providing a great corporate home for several of the many companies looking to take advantage of the great quality of life offered by the city of Georgetown.”
The project is part of a continued industrial wave in Georgetown, which is about 30 miles north of downtown Austin. According to U.S. Census data, it’s 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.
Data from Transwestern shows that the city has nearly 14.4 million square feet of industrial inventory, with nearly 700,000 square feet of net absorption in the first quarter of 2024 — the second-most out of the 18 submarkets the company tracks in the Austin metro. Average net rent was $10.83 per square foot, higher than the metro’s average of $10.44.
Fidelis owns and operates about 24 million square feet across five product types and 14 states, with a primary focus on retail but also healthcare, multifamily and industrial.
The company is working with Transwestern Investment Group as the investment partner on Berry Creek Business Park. An entity tied to Transwestern Investment Group, on behalf of a separately managed account, acquired the 57-acre property that was in the possession of longstanding landowners the Illig and Kokel families in November 2023, according to Williamson County property records. The property has an estimated 2024 total market value of $4.6 million.
Carter Thurmond and Nash Frisbie of Transwestern Real Estate Services are leasing the project on behalf of Fidelis. Gordon Highlander Construction is the general contractor, Westwood Civil is the engineer and GSR Andrade is the architect.
“Berry Creek epitomizes what a Class A Industrial Park should offer. Its effective building design, exceptional accessibility, and optimal circulation are set to greatly benefit the diverse tenant mix in Georgetown,” Thurmond said in a statement. “We look forward to seeing this unfold in the coming months.”
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