GEORGETOWN, Texas — A new 230,000-square-foot facility is one step closer to being built in Georgetown.
Stonemont Financial Group, a private real estate investment firm, announced Thursday that it closed on a land sale in the city that paves the way for the facility.
It's called Westinghouse35 and will be located on an 18-acre site directly off of Interstate 35 and Westinghouse Road. According to a release, the location offers convenient access to major routes along Highway 130.
The project is slated to be completed in the first half of 2023. It will have 32-foot clear heights, 58 dock doors, up to 345 auto parking stalls and 68 full-size trailer parking stalls, per the release.
The development, Stonemont's first in Central Texas, is looking to fill a void for Class A industrial product for an array of e-commerce and third-party logistics providers that have recently opened or expanded in the area.
“With the industrial landscape of Central Texas growing at an accelerated rate, it was a natural decision to plant our flag in the region and utilize our spec development expertise to help address the needs of the market,” said Stonemont CEO and Managing Principal Zack Markwell. “Stonemont is proud to play a part in greater Austin’s growth story as one of the top places for innovation and development in the nation. The entire state of Texas is keeping us busy as we continue to build out a network of meaningful partnerships that will position us for steady growth and success in the years ahead.”
The firm also has a presence in the Dallas-Fort Worth area with 1.5 million square feet of distribution centers and speculative development buildings under management or construction. These projects include warehouses in McKinney, Fort Worth and South Dallas.
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