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TRANSWESTERN INVESTMENT GROUP AND FIDELIS INDUSTRIAL BRINGING 521,000 SF PROJECT TO AUSTIN
Acquisition of 56 Acres Will be Home to Berry Creek Business Park
(DEC. 20, 2023 – AUSTIN, TX) –Transwestern Investment Group (TIG®), on behalf of a separately managed account, and Fidelis Industrial have acquired 56 acres in Georgetown, Texas, for the development of Berry Creek Business Park, a 520,571-square-foot industrial project. The three-building asset is scheduled to deliver in the fourth quarter of 2024.
“Austin’s industrial real estate market is flourishing, and the Far North is one of the most popular submarkets for manufacturers and other industrial users due to its convenient location and skilled workforce,” said Mike McKenzie, Director of Acquisitions at TIG. “This sizable project allows us to deliver quality space in an area that continues to see population growth at an accelerated rate.”
Berry Creek Business Park is situated at the intersection of Interstate 35 and U.S. Highway 130, two major thoroughfares in Central Texas with accessibility to 20 million residents within a 3-hour drive.
"Georgetown is the fastest growing city of its size in the U.S. and offers a high quality of life,” said Kevin O'Neil, President of Fidelis Industrial. “This development will complement the community by delivering a park environment with many tenant amenities alongside attractive, high-quality buildings.”
Zoned for light industrial manufacturing and distribution use, Berry Creek consists of two rear-load buildings ranging from 126,722 square feet to 140,685 square feet with 32-foot clear heights, and one cross-dock building that will sit at 253,164 square feet and offer a 36-foot clear height. The portfolio can accommodate an array of tenant requirements from 42,000 square feet up to 253,000 square feet.
Warren Hitchcock and Buddy Hopson of Northmarq arranged the venture between TIG and Fidelis. The property will be leased by Carter Thurmond, Witt Westbrook and Nash Frisbie of Transwestern.
Fidelis is a privately held, full-service real estate ownership and development firm based in Houston, Texas. With a 20-year operating history, Fidelis is one of Texas’ largest commercial real estate companies. The firm has a long focus on retail, and a newer focus on healthcare, multifamily, and industrial. While Fidelis commenced operations with 1 million square feet of retail properties in the greater Houston area, the firm now owns and operates approximately 24 million square feet across five product types and fourteen states. Most recently, Fidelis created a fund business which is already on its second major capital raise.
This document does not constitute an offer, solicitation or recommendation to sell or an offer to buy any securities, investment products or investment advisory services. Any offer or solicitation will be made only pursuant to a confidential private placement memorandum and subscription documents (the “Offering Materials”) and will be subject to the terms and conditions contained in such Offering Materials.
ABOUT TRANSWESTERN INVESTMENT GROUP
Transwestern Investment Group (TIG®) is a real estate investment adviser with $5.0 billion of assets under management. The firm serves a broad range of institutional and high-net-worth investors with its full-service investment management and Transwestern’s integrated operating platform.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for investors across commercial real estate services, development, investment management, and opportunistic endeavors for high-net-worth investors. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.