Near the new Samsung facility outside Austin, the facility is a perfect fit for this fast-growing city’s focus on technology development.
Hutto, Texas – Titan Development (“Titan”) and the City of Hutto, TX (“Hutto”), announced today Titan’s purchase of ‘Hutto Mega TechCenter,’ from the City of Hutto. This land acquisition, which closed on May 26, 2022, will be developed into Titan’s newest industrial park in Hutto, and follows Titan’s strong successes in industrial assets in Texas and across the Southwest.
Situated near State Highway 130, a toll road from North Austin to San Antonio, Titan and Hutto realized early on the opportunity for this prime location to grow into an industrial hub for companies looking to expand or move into close proximity to Austin. In October 2017, Titan Development broke ground on Innovation Business Park and fully developed it in less than three years. Following this success, Titan purchased an additional 100 acres to expand the industrial park and has continued to meet the demands of the industry through successful development. Also demonstrating the area’s industrial boom is Samsung’s announcement in late 2021 that it is building a $17 billion semiconductor factory in the neighboring city of Taylor. Several other major technology companies are in the advanced approval stages to potentially develop multi-billion dollar facilities in Hutto.
Joe Iannacone, Austin-based senior vice president at Titan, said, “We are excited to be developing new industrial properties at this very attractive location in Hutto. We anticipate this new industrial park will help meet the increasing demand by high-tech companies and suppliers to locate in the greater Austin area. Our new tenants Ovivo Inc. and Kval Inc. in Titan’s Innovation Business Park, also located in Hutto, are a testament to the city’s appeal as a light industrial manufacturing hub.”
Hutto Mega TechCenter is located just south of Highway 79, adjacent to Hutto’s 450-acre megasite. The master site plan for this 188-acre industrial park, which is zoned as Light Industrial, includes buildings ranging from 200,000 to 1,000,000+ square feet.
Hutto Economic Development Corporation (EDC) Chairman Mike Arismendez commended the expansion of Titan’s impressive footprint in Hutto, noting how well it fits within the Hutto EDC’s vision of advancing growth and opportunity. Hutto and its EDC are focused on cultivating a progressive environment for tech-focused and light industrial businesses, among others.
“We’re thrilled with the success current developers and businesses such as Titan are already seeing here, as well as the continued growth and prosperity Hutto will enjoy in the coming years,” Arismendez said. “Hutto is strategically building a culture in which area businesses support each other’s needs, their customers, and perhaps most importantly the Hutto community.”
Bob Farley, the city’s economic development director, pointed to Hutto’s numerous advantages for developers and prospects, including being a transportation hub in an established, thriving community, and having an extensive amount of prime land available for development. The value of Hutto’s most active economic development prospects currently run the gamut from a few hundred million dollars to well over $1 billion and more than 2,000 jobs, he said.
About Titan Development
Titan Development is a leading Southwest full-service development and real estate investment firm with proven returns, via diversified asset classes across varied geographic markets. Titan has completed 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 recently closed its third fund, Titan Development Real Estate Fund III (TDREF III) at $122 million in May 2022, continuing its successful strategy of focusing on multifamily and industrial investing in secondary and tertiary markets. Titan’s previous fund, TDREF II, raised $95 million and has committed 100% of the fund to 13 projects. Titan’s inaugural fund, TDREF I, raised $112 million and invested in a variety of real estate asset classes.
To learn more, please visit www.titan-development.com.
About the City of Hutto
The City of Hutto is a full-service, home-rule municipality operating under a Council-Manager form of government. Nearly 40,000 people call this fast-growing community home. Located in the strong Austin-area jobs market, Hutto has been recognized as one of the safest cities in Texas, a top place to raise a family, and appealing to young couples. From its agricultural roots to its progressive economic development, the City of Hutto is focused on providing a strong quality of life for decades to come.
To learn more, please visit www.HuttoTx.gov/EDC.