Molto Properties Signs 310,366-SF Full-Building Lease at Blue Springs Business Park in Georgetown, Texas

GEORGETOWN, Texas — Molto Properties has signed a 310,366-square-foot industrial lease at Blue Springs Business Park Building 2 in Georgetown, Texas, filling the entire second building of the three-building speculative development and pushing the 604,064-square-foot project to more than 93% occupancy.

The tenant will occupy all of Building 2. Only 40,281 square feet remains available in Building 1, the firm announced Aug. 28.

Deal Principals and Brokerage Teams

Carter Thurmond, Principal at Endeavor Real Estate Group, and Nash Frisbie, Director at Cushman & Wakefield, represented Molto Properties in the transaction. Travis Hicks and Chase Clancy, Executive Vice Presidents at Colliers, represented the tenant.

"We are excited to welcome another tenant to Blue Springs Business Park," said Kevin Mohoney, Senior Vice President at Molto Properties. "Their decision to lease the entirety of Building 2 is an important milestone for the project and reflects the uptick in leasing momentum in the Austin metro this year. Access to heavy power was an important consideration, and the City of Georgetown played a critical role in helping make this project a success. We appreciate the City's partnership, responsiveness and business-friendly approach, which continue to support economic growth and attract world-class companies to the market."

Building Specifications and Site Details

Blue Springs Business Park is located at 610 Blue Springs Blvd in Georgetown, near the signalized intersection of Southeast Inner Loop and Blue Springs Boulevard, less than half a mile from Interstate 35. The I-35 corridor location provides access to the broader Austin market.

Building 2 is configured for advanced manufacturing and large-scale logistics users. The building features 36-foot clear height, 80 overhead doors, four grade-level ramps, 59 trailer parking spaces, 197 car parking spaces, and an ESFR sprinkler system. Access to heavy power was a noted factor in the tenant's site selection, according to Mohoney.

The broader Blue Springs Business Park encompasses three buildings ranging from 124,914 to 310,366 square feet across approximately 43 to 45 acres. 84 Lumber previously signed a lease for 84,633 square feet in Building 1. The park represents Molto Properties' first industrial development in Central Texas. Groundbreaking occurred in late 2022, with the project targeting a Q2 2023 completion.

Austin Industrial Market Context

The full-building lease at Blue Springs Business Park arrives as the Austin industrial market navigates elevated vacancy levels that have begun to show early signs of stabilization heading into the second half of 2026.

Austin's overall industrial vacancy stood at approximately 15.7% in the second quarter of 2026, down roughly 70 basis points from the first quarter but still elevated on a year-over-year basis, reflecting the delivery of new speculative product across the metro. Other market estimates place vacancy higher, with figures ranging from 19.4% to 22.5% depending on methodology, compared to a long-term metro average closer to 11%.

Net absorption rebounded sharply in the second quarter. One estimate placed Q2 2026 net absorption at approximately 2.14 million square feet, up more than 137% from the first quarter's roughly 899,888 square feet. A separate estimate put Q2 absorption at 1.4 million square feet, representing a 244.8% quarter-over-quarter increase and an 89.3% year-over-year gain.

Average asking rents across the metro have softened. Estimates for Q2 2026 NNN asking rents range from approximately $12.85 to $13.78 per square foot, reflecting modest year-over-year declines. Warehouse rents have been tracked at around $14.24 per square foot, while flex product commands a premium at approximately $18.17 per square foot.

Georgetown's submarket has carried some of the highest vacancy rates within the Austin metro, making the Blue Springs Business Park lease a notable large-block transaction for the corridor. The deal brings the project's remaining availability to a single block of 40,281 square feet in Building 1.

About Molto Properties

Molto Properties is a privately held real estate company focused on industrial property acquisition and development. Since its founding in 2008, the firm has acquired or developed nearly 20 million square feet of industrial real estate valued at more than $1.2 billion, with a geographic focus on the Midwest, Texas, and California.