Titan Development Breaks Ground on Building 5 at NorthPark35 Industrial Park in Georgetown, Texas

Greater Austin Merchant's Cooperative Association to lease the 297,057 square foot distribution center

AUSTIN, Texas, April 7, 2022 /PRNewswire/ -- Titan Development ("Titan") and the Greater Austin Merchant's Cooperative Association ("GAMA") will break ground today on Building 5, a 297,057 square foot Class A industrial facility at NorthPark35 Industrial Park, located in Georgetown, Texas at the gateway to the Austin MSA. MW Builders will serve as the general contractor for Building 5, which is targeted for completion in the fourth quarter of 2022.

GAMA is a Trade Association in the convenience and gas industry with nearly 600 members across central Texas, as well as owner operators of a warehouse and distribution center for the convenience channel and other business customers. GAMA uses its purchasing power to ensure that members and its customers get competitive, discounted prices, while running a robust warehouse and distribution system that provides best in class customer service as well as timely and efficient delivery. Founded in 1999, the organization has outgrown its 68,000 square foot distribution and commerce center near U.S. Highway 183, which will remain in operation as a cash-and-carry facility after the expansion to NorthPark 35 Industrial Park is complete.

Joe Iannacone, Austin-based Senior Vice President at Titan, said, "We're delighted to be partnering with GAMA at Northpark35. The park's great location in the booming Austin and Georgetown area will increase GAMA's ability to expand services, cut costs and enable their growing independent retailer network to meet the challenges of increasing competition in their markets."

Shane Walker, Chief Operating Officer at GAMA, said, "Titan and Georgetown have been great partners in planning our new facility. We're excited at the opportunities we can give our members with greater inventory storage and increased distribution efficiencies. With today's uncertain and rising prices, greater inventory control will be increasingly important, and our facility at NorthPark35 Industrial Park will be a key part of our future plans."

"GAMA's support and representation of collective small businesses allows for their members to thrive and stay competitive in an ever-changing market," Mayor Josh Schroeder said. "As a city we value small business and understand how integral they are to our economy, which is why we are thrilled to have a trade association like GAMA to come to Georgetown."

NorthPark35 Industrial Park was designed to accommodate companies in need of 50,000-800,000 square feet of flexible space. The park will soon offer more than 1.7 million total square feet of space, with an extension of Aviation Drive that connects to Interstate 35 and State Highway 130. Its prime location is within 10 minutes of many restaurants, retail, healthcare, housing and educational institutions and in an area which is attracting major employers including Tesla, Amazon, Samsung, Applied Materials and others.

NorthPark35 is funded by Titan's Development Real Estate Fund II, which focuses on industrial and multifamily real estate development in Texas, New Mexico, Colorado and California. NorthPark35 includes the 172,677 square foot Building 1 and the 157,300 square foot Building 2, both of which were sold to a leading operator of industrial properties. Construction of NorthPark35 continues, with ongoing work on the Aviation Drive infrastructure.

Georgetown is the seventh fastest growing city in the U.S. and has been supportive of planned industrial development. The site is also close to industrial essentials, including Vanguard Truck Rentals, Holt/CAT, and Georgetown Municipal airport. Once a small town, this economic hub grew by 56% between 2010-2018, according to U.S. Census data.

Titan Development is a leading Southwest full-service development and real estate investment firm. Titan has developed over 20 million square feet of real estate totaling more than $2.5 billion in project cost since the firm was formed in 1999. Titan Development has a wealth of real estate development experience in many asset classes including private equity fund investment and management, and has offices in Austin, TX, and Albuquerque, NM.

Titan Development's first private equity fund Titan Development Real Estate Fund I (TDREF I) raised $112 million and invested in a variety of real estate asset classes. Titan Development Real Estate Fund II (TDREF II) raised $95 million and commenced in November of 2020. TDREF II focuses on industrial and multifamily development in secondary and tertiary markets. TDREF II has identified all fund projects, has committed 89% of the total fund equity to twelve projects and has identified the remaining projects which will commence construction in the first half of 2022. To learn more, please visit www.titan-development.com.

Greater Austin Merchants Cooperative Association (GAMA) serves convenience store and gasoline station owners by equipping them with bulk purchasing power, industry know-how, and the right connections to strengthen their business practices. For more information, please visit www.gamaus.com.

Media Contacts
For Titan Development:
Lisa Baker, Lambert & Co.
[email protected]
603-868-1967

For GAMA:
Shane Walker
[email protected]
512-735-7712

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SOURCE Titan Development