$9M Industrial Park Expansion Touted In Round Rock

ROUND ROCK, TX — EastGroup Properties, an equity real estate investment trust, plans to expand on its developing Settlers Crossing complex as part of a $9 million-plus investment, chamber officials announced on Friday.

The Round Rock Chamber revealed EastGroup Properties will build additional speculative space for Phase II at Settlers Crossing located on Old Settlers Boulevard. To that end, the investment trust plans to invest more than $9 million in real property improvements in the construction of a light industrial and warehousing facility in Round Rock.

“With Phase I performing well at 90 percent leased, we are pleased to officially kick off Phase II at Settlers Crossing later this month," David Hicks, vice president of EastGroup Properties, said. “Our anticipated delivery is Q2 2020. The success to-date is primarily due to Round Rock’s business friendly environment, ample nearby amenities, close proximity to I-35, and the project’s flexible building design. Settlers Crossing can accommodate a wide-range of users between 8,000 and 97,518 square feet.”

When complete, the two new buildings combined will add approximately 172,795 available square feet of light industrial product to the city, officials said. Building three is 97,518 square feet and building four is 75,277 square feet, its developers added.

Round Rock Chamber President and CEO Jason Ball said the development fills a much-needed amenity and will likely spur further development: ”We are excited to see the master plan at Setters Crossing move forward as scheduled,” Ball said in a prepared statement. “The additional space will help fill that gap in our city for much-needed industrial space offerings and act as an engine for economic development bringing more jobs and investment to the community.”

EastGroup is an equity real estate investment trust focusing on development, acquisition, and operation of industrial properties in major sunbelt markets. Its portfolio, including development projects and value-add acquisitions in lease-up and under construction, currently comprises about 43.5 million collective square feet of development.

About the Round Rock Chamber

The Round Rock Chamber is the economic generator for its thriving community. Honored with the 2018 Chamber of the Year Award by the Association of Chamber of Commerce Executives for its work in the Eight Pillars of Economic Generation and for its operational excellence, the chamber is the catalyst for building prosperity in Round Rock. The chamber initiates programs that create a dynamic business climate and improved quality of life through innovative community partnerships and invested business leaders. For more information visit, roundrockchamber.org