Houston developer Hanover broke ground recently on a large industrial park in Round Rock, the suburb north of Austin that’s growing faster than Austin.
The Settlers Park Business Center, Hanover’s planned 361,000-square-foot industrial development at 701 North Red Bud Lane, will consist of three rear-load buildings ranging from 107,904 to 126,616 square feet.
Hanover is developing the project in partnership with institutional investors backed by J.P. Morgan Asset Management. Powers Brown Architecture is designing the project, and Kimley-Horn is providing civil engineering services. Hanover's in-house team will act as the general contractor. KBC Advisors is the leasing agent. Construction is slated for a second-quarter 2025 completion. JLL and Newmark assisted Hanover in marketing the project to potential capital partners.
