Georgetown, 26 miles north of Austin, is the home of Southwestern University and just west of the city is Sun City Texas. Tourist attractions include a historic downtown and a candle factory.

Dallas-based NorthMarq Capital Inc. has arranged $4.3 million in financing for the transaction. Paul Brighton, the NorthMarq vice president and senior producer who handled the deal, says it essentially was a land swap with Williamson County, which may build a convention center.

Brighton says Hall has been talking to major retailers around the country about setting up shop in a "big box" retail development in Georgetown. Hall was not available for comment.

The first order of business, Brighton tells GlobeSt.com, is to build a four-lane divided road on the site. If realized, such a retail development could be the biggest shopping center in Georgetown and the biggest north of Round Rock. Georgetown's largest retail employers are H-E-B grocery and Wal-Mart, which, together, have about 400 employees.

While Williamson County has been a perennial member of the fastest-growing counties in the nation during the 1990s, most of the growth has been in the southern part just north of Austin. That growth, however, has been creeping north toward Georgetown, which had 28,000 residents and double the number of the 1990 head count, according to the 2000 US census.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Development
Retail