Aquila has brought a 298,000-square-foot industrial building in Georgetown to market as a sale/leaseback opportunity. The property, identified as Building 5 within the larger NorthPark 35 development, is being offered to investors and potential owner-users, with Aquila marketing both the sale and the future leasing prospects tied to the asset.
Building 5 is part of NorthPark 35, a master-planned industrial park totaling approximately 1.8 million square feet. The building is located at 1805 Aviation Drive and occupies a 19-acre site, providing a modern warehouse footprint within a large-scale industrial campus. Completed in 2023, the facility reflects relatively new construction in the area’s industrial inventory.
According to information referenced from Aquila, 108,467 square feet of the 298,000-square-foot building remain available for lease. This leaves a substantial portion of the property already leased while still offering future leasing potential. The remaining availability may appeal to investors seeking a combination of existing income and additional upside through lease-up, or to users evaluating partial or full occupancy strategies.
Aquila is positioning the opportunity as suitable for an investor targeting in-place income with the potential to capture further value through leasing the remaining vacancy. The firm also notes that the structure can work for a user that is prepared to occupy the property after a one-year leaseback period. That leaseback component provides a defined near-term timeline for transition from the current occupant to a future user or a stabilized multi-tenant configuration, depending on buyer strategy.
The marketing process is being run on a defined timetable. Aquila has set a deadline for offers of November 4, with a targeted closing date of December 31. The specified dates provide clarity for prospective buyers on both the bid process and anticipated transaction timing, which may aid in capital planning and year-end allocation decisions.
AQUILA is described as an Austin, Texas-based commercial real estate services firm, with capabilities that include tenant representation, project leasing, asset management, property management, and project management. The company’s role in this case centers on bringing Building 5 to market and positioning it for both investment and potential user demand.
The broader park, NorthPark 35, was originally developed and owned by Titan Development. Titan characterizes itself as a Southwest-focused development and real estate investment firm with experience across a range of asset classes and geographies. Its role in conceiving and delivering the master-planned industrial park provides context for the quality and scale of the overall project in which Building 5 is situated.
