THE MANSIONSOF GEORGETOWN

N MAYS ST

WESTINGHOUSE RD

15.93 AC

I N D U S T R I A L L A N D O F F E R I N G M E M O R A N D U M

WESTINGHOUSE

1 5 . 9 3 A C R E S – A P P R O V E D S I T E D E V E L O P M E N T P E R M I T

WESTINGHOUSE INDUSTRIAL LAND

HFF is pleased to offer qualified investors the unique opportunity to purchase an industrial land parcel with an approved site development permit (“The Property” or “The Site”) located in Georgetown, TX. Positioned along Austin’s path of growth north, Westinghouse Industrial Land is ideally located less than two miles from the heavily traveled Interstate Highway I-35, along Westinghouse Road directly adjacent to luxurious Round Rock Premium Outlets, Teravista Golf Club, and desirable Round Rock neighborhoods with homes valued up to $700,000. Georgetown’s continued designation in the Top 5 fastest growing cities in the US exemplified by a 78% population growth over the past eight years, and its highlight as a future target area for waves of in-migration make the Property an extremely attractive offering.

EXECUTIVE SUMMARY

LocationWestinghouse Rd. (between A.W. Grimes Blvd. and IH-35, Georgetown, TX 78626

County Williamson

Zoning BP

Parcel # AW0385

Total Acreage 15.93 Acres

PROPERTY OVERVIEW

2 WESTINGHOUSE

3WESTINGHOUSE

INVESTMENT HIGHLIGHTSOUTSTANDING DEVELOPMENT OPPORTUNITY

• With an increasing shortage of developable sites in Georgetown, and few industrial opportunities in the immediate area, the Site offers the rare opportunity to capitalize on a fully entitled site with an approved site development permit.

• Georgetown’s industrial market has only delivered 315,436 square feet of product since 2017 while maintaining an average occupancy of 93%, further showcasing the demand for this type of product in the submarket.

• The site is ideally positioned along Westinghouse Rd., two minutes from Austin’s most traveled thoroughfare IH-35. As Austin’s growth continues to push north towards Georgetown with the growth of rooftops, employers, and retailers, the economic hubs of North Austin become increasingly stronger, making this site highly desirable for developers nationwide.

• As the population continues to skyrocket, The City of Georgetown has encouraged economic incentives to tenants and developers alike; specifically demonstrated by means of a $500,000 incentive agreement between the Sponsor and Georgetown’s Economic Development Corporation transferrable upon certificate of occupancy.

LOCATIONAL ADVANTAGES

• Directly adjacent to Round Rock Premium Outlets and an HEB Grocery, residents in the immediate area have access to one of Austin’s largest retail destinations where they can find all of their necessities and premium/luxury goods.

• Georgetown has been recognized as the fastest growing municipality in the country as close proximity to major economic and employment drivers including Apple, Amazon, Facebook, Dell, Samsung, GM, and Emerson have helped drive population growth.

• Less than 3 minutes away from North Austin Medical and Educational Hub, the site provides extremely close proximity to a major developing employment center. The Site will benefit from the established and continuous development located in the Avery Centre. With multiple campuses in a 1,200-acre mixed use community, Avery Centre will become an economic engine for the surrounding area.

POPULATION GROWTHWITHIN 1-MILE RADIUS

2010–2018

TO I-35

78.56%

<1.5 M I L E S

4 WESTINGHOUSE

DOWNTOWN AUSTIN

CEDAR PARK ROUND ROCK

AUSTIN

GEORGETOWN

LEANDER

HUTTO

PFLUGERVILLE

MANOR

TECH RIDGE

I N D U S T R I A L L A N D

WESTINGHOUSE

THREE MILES TO

Texas A&M University Health Science Center Round Rock campus is a 50-acre medical

school campus. The new 134,000 square foot facility is used for teaching, research, and care.

Texas State University Round Rock is situated on 101 acres and offers upper-class

undergrad and graduate degree programs. In 2018 Texas State relocated three colleges within their College of Health Professions departments to the Round Rock Campus, including the St. David’s School of Nursing.

Seton Medical Center Williamson is a compre-hensive care hospital that

will include over 120,000 square feet of office and serve as a level II trauma center for North Austin with over 143 beds.

ACC Round Rock opened in 2010 serving over 5,000 students annually. The campus is rapidly expanding to increase capacity

and continues to add more programs for students. The campus offers associate degree course work as well as career technical programs that lead directly to demanding jobs.

ROUND ROCK CAMPUS

5WESTINGHOUSE

LOCATION OVERVIEW

DRIVE TIMES

Round Rock Premium Outlets

3 M I N U T E S

Dell Headquarters

12 M I N U T E S

Downtown Austin

24 M I N U T E S

2 M I N U T E S

Interstate 35

Ranked among the five fastest-growing cities in the country, Georgetown added nearly 15,000 residents from 2010 to 2018, a growth rate of 32%

The last major undeveloped East-West thoroughfare in between Austin and Georgetown

Housing availability and affordability, a top-rated school system and convenience to Austin continue to fuel the city’s growth and make for a desirable business and residential community

Positioned along the heavily traveled Interstate Highway I-35, the Property is centrally located within Georgetown and offers convenient access to residential communities including Round Rock, Hutto, Cedar Park and Leander

North Austin is increasingly becoming the preferred location for large corporate tenants and is home to world-class businesses including Apple, Amazon, Facebook, Dell, Samsung, GM, Emerson, and many more

This impressive corporate lineup is supported by a robust hospital system including Baylor Scott & White Health, St. David’s Round Rock Medical Center and Seton Medical Center Williamson County

Austin Internat'l Airport

30 M I N U T E S

6 WESTINGHOUSE

Round Rock Premium Outletswith Major Tenants:

3 Miles To:

ROUND ROCK CAMPUS

FUTURE MIXED USE

WES

TIN

GH

OU

SE R

D

TERAVISTA NEIGHBORHOODHOME VALUES

$300,000 - $700,000

VISTA VERA HOME VALUES

$250,000 - $350,000

TERAWESTFUTURE MIXED USE

WINDMILL HILLFUTURE MIXED USE

MANSIONS OF GEORGETOWN438 UNIT NEW MULTIFAMILY DEVELOPMENT

N MAYS ST

15.93 AC

7WESTINGHOUSE

Round Rock Premium Outlets

This 500,000 SF premium open-air outlet mall features an impressive collection of 200+ specialty stores and restaurants such as Nike, Burberry, Polo Ralph Lauren, Brooks Brothers, Coach, J.Crew and Banana Republic.

Wolf Ranch Town Center

The Wolf Ranch Town center is an open-air retail hub serving the city of Georgetown and the surrounding areas including Round Rock and Killeen. Featuring over 600,000 square feet of lifestyle, necessity, and entertainment retail options, the center is located at the busy intersection of I-35 South and University Avenue. Home to over 80 tenants, the Town Center includes Gold’s Gym, Old Navy, Pier 1, Panda Express, Longhorn Steakhouse, Target, Ross, Best Buy, DSW and Kohl’s.

Wolf Crossing

Located at the South East Corner of I-35 and University Ave. Wolf Crossing is a planned 42-acre retail power center with a diverse lineup of future tenants. Soon to be home to a Fairfield Inn & Suites the center will attract activity from around the region as it seeks to combine local, regional, and national tenants such as Jason’s deli, P. Terry’s, Firestone, Olive Garden, Aldi, and Tiff’s Treats.

Baylor Scott & White

With two locations less than 3 miles from the Westinghouse Site, Baylor Scott & White has a major presence within the area and serves as a top employer. The campus is home to a state-of-the-art clinic offering more than 20 medical and surgical specialty care units, as well as a 101-bed medical center.

EXPLOSIVE GROWTH AREA

8 WESTINGHOUSE

1-MILE RADIUS

3-MILE RADIUS

5-MILE RADIUS

Population (2019) 3,307 35,318 126,444

Population Growth 2018-2022

9.65% 9.83% 9.46%

Population Growth 2010-2018

78.56% 58.23% 35.06%

Average Household Income

$114,285 $102,020 $109,939

Median Housing Value

$282,653 $250,504 $254,928

DEMOGRAPHIC HIGHLIGHTS

9WESTINGHOUSE

HIGH-GROWTH AUSTIN INDUSTRIAL MARKETFueled by Austin’s young, highly trained workforce and partnerships between the region’s higher education institutions and the private sector, the Austin industrial market has grown to be one of the most diverse markets in Texas, made up of noteworthy semiconductor, electronics R&D, and manufacturing companies, including Samsung Semiconductor, Applied Materials, Flex, and many more. Austin’s industrial inventory is comprised of 3,684 buildings totaling approximately 81.2 million square feet of competitive industrial space spread over an eighteen-submarket region. The Austin industrial market is currently 93.5% leased after delivering almost 5.3 million square feet of new product over the past 24 months.

Austin’s ability to attract and expand high-tech companies, coupled with a cooling development pipeline, rising construction costs and limited available inventory has put upward pressure on rental rates and occupancy, as demonstrated by the 60% rent growth since 2010. The overall Austin industrial market caters to tenants with heavier office finish needs, with less demand for true bulk warehouse users, leading to high average rental rates. Although high land costs and average rents in comparison to other Texas markets precludes Austin from becoming a bulk distribution hub, the thriving tech ecosystem allows the Austin industrial market to continually be a rent growth leader for the rest of the state.

82%

84%

86%

88%

90%

92%

94%

96%

98%

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 YTD $-

$1.00

$2.00

$3.00

$4.00

$5.00

$6.00

$7.00

$8.00

$9.00

$10.00

Aus�n Georgetown Aus�n Georgetown

MARKET RENTS VS OCCUPANCY

10 WESTINGHOUSE

11WESTINGHOUSE

Although it maintains a laid-back vibe, the city dedicated to “Keeping Austin Weird” shows no signs of slowing down. A booming economy, growing job market, high quality of life and low cost of living make Austin a sought-after city for all ages. As one of the nation’s top economic performers, Austin is a thriving city with a young, highly educated and vibrant population that attracts business and tourism. The metro leads the nation in terms of population growth, fueled largely by the strongest rate of in-migration with an impressive 151 people moving to the city a day. The 11th largest population among U.S. cities, Austin’s population has expanded 23% between 2010 and 2017. The population explosion of the Texas capital, which reached approximately 2.1 million last year, is expected to soar 98.5% to nearly 4 million by 2040. Nearly doubling in size, Austin’s population is projected to grow faster than any other large U.S. city in the next 25 years. Named among Forbes 10 Best Cities for Jobs, Austin has one of the best job markets in the nation with a trend of nearly 20-year lows in the metro’s monthly unemployment rate. In the 12 months ending in November 2018, the Austin metro added 35,200 net new jobs, a growth rate of 3.3% and the seasonally adjusted unemployment rate is currently 2.7% (3.5% nationally).

AUSTIN, TEXAS

LARRY ELLISON, CTO OF ORACLE“Austin is one of the key places we want to be

because we think that’s where our people want to be. We want to develop the kinds of facilities where

you feel good about coming to work every day.”

No. 1NATION’S TOP HIGH-TECH HUB

Source: Wall Street Journal

No. 1RISING CITY FOR STARTUPS

Source: Inc.

No. 1BEST BIG CITY TO LIVE IN AMERICA

Source: Money

No. 1AMERICA'S GREATEST MUSIC CITY

Source: Huffington Post

THRIVING ECONOMY

12 WESTINGHOUSE

Source: U.S. News and World Report

BEST PLACE TO LIVE IN THE U.S. 2017 & 2018

No. 2BEST JOB MARKET

Source: Forbes

No. 2LARGEST MILLENNIAL POPULATION

Source: Brookings Institution

No. 2MOST EXCITING FOOD CITY IN AMERICA

Source: Zagat

Top 10FOR ECONOMIC PERFORMANCE

Source: Milken Institute

AUSTIN FESTIVALREVENUE

$0

$100

$200

$300

$400

$500

$600

$700

$800

$900

$1,000

(RE

VE

NU

E I

N M

ILL

ION

S)

COTA SXSW ACLCOTA: Circuit of the AmericasSXSW: South by SouthwestACL: Austin City Limits Music Festival

$255M I L L I ON

$351M I L L I ON

$1 BIL

LION $8 BILLION

VISITOR SPENDING

27.4 MILLIONANNUAL VISITORS

Source: Downtown Austin Alliance

Consistently named among the best places to live and work, Austin is universally regarded for its thriving economy, low cost of living and enviable quality of life. Austinites enjoy a reasonable cost of living with a median home price that is below the national average, lack of state income taxes and the highest per capita income of all major cities in the Lone Star State. In addition to a burgeoning downtown and prosperous employment opportunities, the city offers many museums, performing arts venues, sporting events and recreational activities.

Affectionately deemed “The Live Music Capital of the World”, Austin boasts over 1,700 live music venues and is home to South by Southwest (SXSW) and the ACL Music Festival, two of America’s largest media events. Austin is an enchanting city celebrated for its robust natural beauty and abundance of outdoor amenities, including Lady Bird Lake, Austin Hike and Bike Trail, Barton Creek, Lake Austin and numerous greenbelts. Central Texas boasts a cosmopolitan atmosphere without the big city stress and it is not hard to see why many people love to call Austin home.

13WESTINGHOUSE

TIM COOK, CEO OF APPLE“Literally, many, many pieces of our company are here. The team here is a very critical part of our

company, and we’ve been very happy here.“

APPLE ANNOUNCES NEW $1 BILLION AUSTIN CAMPUS AS PART OF BIG US EXPANSIONThe new 133-acre development is expected to make it the largest private employer in Austin. Apple expects the new campus to accommodate 5,000 employees at first, though it will ultimately have a total capacity of 15,000.Source: www.theverge.com/2018/12/13/18139009/apple-billion-dollar-austin-campus-us-expansion

13,000 6,000+ 6,000 5,000+ 3,500 3,500 2,000Austin Employees Austin Employees Austin Employees Austin Employees Austin Employees Austin Employees Austin Employees

Austin’s economy continues to benefit from the technology sector boom that began in the 1990s, dubbing the metropolitan area “Silicon Hills”. One of the nation’s preeminent locations for technology, Austin is now growing four times faster than most of Silicon Valley--drawing talent and startups from all over the country.

HIGH-TECH HUB

14 WESTINGHOUSE

1

AUSTINAUSTIN

CEDAR PARKCEDAR PARKROUND ROCKROUND ROCK

CENTRAL BUSINESS DISTRICT

CORPORATE EXPANSIONS & RELOCATIONS

135 IN 2018 (18,213 NEW JOBS)

115 IN 2017 (13,051 NEW JOBS)

101 IN 2016 (10,044 NEW JOBS)

• In the past decade Austin is the No. 1 city gaining company migrations from California.

• Austin has the highest tech salaries in the nation with an average salary of $202,000. (Adjusted for cost of living)

• 138,000 tech-related jobs. (14% of total jobs compared to 7% nationally)

• Austin’s strong tech presence fuels $31 billion into the economy, accounting for about 35% of the total.

18.6%HOUSING GROWTH SINCE 2010

151NEW RESIDENTS DAILY

2.1 MILLIONMSA POPULATION

11TH MOST POPULOUS CITY IN THE U.S.

45%POPULATION WITH BACHELOR’S DEGREE OR HIGHER

32% NATIONALLY

15WESTINGHOUSE

THE MANSIONSOF GEORGETOWN

N MAYS ST

WESTINGHOUSE RD

15.93 AC

I N D U S T R I A L L A N D

WESTINGHOUSE D E A L T E A M

GARRETT GILLELANDDirector

512.532.1968 ggilleland@hfflp.com

SCHAFER SMARTTAnalyst

512.532.1971 ssmartt@hfflp.com

SEAN WOLFFAnalyst

512.532.1954 swolff@hfflp.com

CHRIS MCCOLPINSenior DirectorT: 512-532-1941

cmccolpin@hfflp.com