A massive industrial development in a buzzing north Austin suburb received a major commitment from a vehicle parts manufacturer as its first tenant.
US Farathane, a supplier for Tesla and other vehicle makers, has leased over 260,000 square feet at the 231-acre GTX Logistics Park in Georgetown, the Austin Business Journal reported.
The Detroit-based company’s move is “imminent,” depending on when infrastructure is completed, according to a spokesperson. US Farathane plans to house more than 100 workers in the 410,000-square-foot building.
The 231-acre project, set to become one of the largest industrial complexes in the region, is under development by Dallas-based Green Point Property Company. At full build, GTX Logistics Park could span 3 million square feet, near I-35 and State Highway 130.
Georgetown’s proximity to key automotive hubs, including Tesla’s facility in east Travis County, Toyota in San Antonio, and General Motors in Arlington, made it an ideal choice for expansion. The move signifies the company’s proactive approach to keeping pace with the region’s automotive growth.
Moreover, US Farathane’s expansion aligns with the broader trend of Tesla and its suppliers establishing a significant presence in the Austin metro area. The US Farathane’s location choice also reflects Georgetown’s emergence as a hub for industrial development, driven by its rapid population growth and favorable business environment.
The US Farathane deal marks the first lease signing at the development. The company’s building was recently sold to real estate titan EQT Exeter, which also purchased an adjacent 24-acre parcel within the park.
Green Point will retain the remaining 180 acres, suitable for 2.6 million square feet of development, the outlet said. Colliers brokers Chase Clancy and Travis Hicks are marketing the property.