iMarketAmerica to Kick Off 2.2 MSF Project
This heavy industrial complex will serve Samsung-affiliated providers and other tech companies.
iMarketAmerica will commence construction on Gradiant Technology Park, a 2.2 million-square-foot industrial campus in Taylor, Texas. This is the company’s first development and will serve as its new headquarters.
The groundbreaking is scheduled for Nov. 17. The project will be developed in three phases.
The first one will consist of two buildings totaling 350,000 square feet, which are expected to come online in the last quarter of next year.
CBRE’s Austin and Korea Desk North America teams are providing leasing and marketing services for the project.
READ ALSO: Semiconductor Boom Continues to Boost CRE
Gradiant Technology Park will be in Williamson County, within the North Austin submarket, and is positioned toward supporting and serving Samsung-affiliated providers and other nearby players in the semiconductor industry. Samsung is also developing its $17 billion chip manufacturing plant in Taylor.
Additionally, the industrial park will be within the Texas Triangle, one of the country’s megaregions, with quick access to the state’s four main metropolitan areas and facilitating cross-border trade with Mexico.
A 13-building industrial development
The campus will span 212 acres and have warehouse, manufacturing and research-and-design space, as well as commercial space. The project is set to include 13 industrial facilities and three support buildings dedicated to amenities, retail and office space, a gas station and on-site electrical substations.
Besides iMarketAmerica taking space within the project, there are also build-to-suit, land acquisitions and leasing options. Land purchase options range from 4 to 32 acres, while build-to-suit options range from 50,000 to 600,000 square feet.
CBRE First Vice President Joe Novek and Senior Associate Roger Hanks, along with Executive Vice President Steven Chon and Senior Vice President Sofi Choi, will handle leasing and marketing services.
The developer serves as the U.S. subsidiary of iMarketKorea, a company specializing in procurement services, supply chain management and distribution solutions. Founded in 2000 as a procurement partner for Samsung Group, iMarketKorea expanded internationally with the establishment of its U.S. subsidiary in 2012. Samsung Group continues to maintain an equity stake in the parent company.
Semiconductor hubs in the making
Elsewhere in Texas, four semiconductor plant projects are set to receive $40 billion for ramping up construction. Developer Texas Instruments has a mega-site in Sherman, Texas, where two plants are well underway and other two are planned. The company plans a total investment of $60 billion, which includes a Lehi, Utah, site expansion.
Another recent capital deployment in the industry came from NexPoint, which raised $137 million in equity for its semiconductor manufacturing DST. The company owns a nearly 400,000-square-foot manufacturing plant within the Inland Empire, fully leased to Skorpios Technologies.
These recent expansions mirror broader industrial market trends nationwide, contributing to the ongoing surge in manufacturing growth and reinforcing the sector’s position as one of the most sought-after asset classes. Last year, GlobalFoundries also unveiled plans for a 10-year investment strategy for the expansion of its Fab 8 semiconductor manufacturing site in Saratoga County. The company plans to deploy up to $11.6 billion, while also gaining federal investments through the U.S. CHIPS and Science Act.
You must be logged in to post a comment.