Austin Business Journal

ASML Holding N.V., a Dutch semiconductor supplier that is one of the most valuable companies in Europe, has inked a nearly 35,000-square-foot office lease in Hutto, one of the fastest-growing cities in the country.

The company, which is widely known as ASML and shortened from Advanced Semiconductor Materials Lithography, is taking 32,442 square feet of rentable building area and 2,158 square feet of roof terrace space in the 70,000-square-foot office building in the Hutto Co-Op District, according to an Oct. 29 announcement from the city.

ASML (Nasdaq: ASML) specializes in the development and manufacturing of photolithography machines, which are used to produce integrated circuits. The company currently has a market capitalization of $416 billion, and in 2024 was valued at $264 billion, making it one of the most valuable companies in Europe.

It also works closely with Samsung Electronics Co. Ltd., which is deep in construction of its massive factory in Taylor just a few miles away.

ASML plans to employ more than 100 people at the Hutto site, with a focus on customer support operations. It currently has a location at 201 West Howard Lane, Suite 300, in Austin, which will not be impacted by the Hutto site, and a number of sites throughout Texas. ASML representatives did not immediately respond to a request for comment.

“We are thrilled that ASML has chosen Hutto and the Co-Op District as a home for its continued innovative work in the semiconductor industry,” Bob Wunsch of Carrollton-based MA Partners LLC, the developer of the 35-acre Co-Op District, said in a statement. “Our goal is to create a mixed-use destination that features dining, shopping, entertainment, workspace and residences — all within one truly authentic Hutto setting.”

Hutto Mayor Mike Snyder added that the project is a complement to other big industrial projects in the city, which has a population of about 43,000. That includes the first 220-acre data center campus from Dallas-based Skybox Datacenters LLC and San Francisco-based Prologis Inc., as well as Tesla Inc.’s 35,000-square-foot industrial building in the city.

“We are a growing community with 54 languages spoken, and the diversity of career opportunities, people and cultures in Hutto has helped make this a highly desirable location for companies seeking to establish a footprint or expand their operations in Central Texas,” Snyder said in a statement.

It also marks a potentially large employer setting up shop in Hutto, and specifically the Hutto Co-Op District. MA Partners was picked more than a half-decade ago as master developer of the project to turn the former agricultural site into a vibrant mixed-use district adjacent to the city’s historic downtown. That has included new a City Hall and library, along with other public spaces, along with a wealth of retail sites that are now home to the likes of Southside Market, Top Notch Burgers and Jack Allen’s Kitchen, and a new six-story parking garage.

While future phases are set to include more retail, multifamily elements, entertainment options and hotels, Wuensch previously told the Austin Business Journal that developers broke ground early on the office building after being approached by an unidentified Fortune 500 tenant. It turns out that tenant was ASML.

ASML leaves the office with 17,000 square feet of office space available on the fourth floor and 9,000 square feet of retail space on the ground floor. The office was designed by Hip.Hop.Design Studio.

In 2018, when MA Partners LLC was starting construction on the 35-acre Hutto Co-Op District, partner Bob Wunsch said they decided the project would be phased out based on tenant demand.

A year earlier, the Carrollton-based developer entered into an agreement with the city of Hutto to turn the former agricultural site into a vibrant mixed-use district adjacent to their historic downtown. They started with a new City Hall and library, along with other public spaces. They then moved on to a wealth of retail sites that are now home to the likes of Southside Market, Top Notch Burgers and Jack Allen’s Kitchen. Visitors can now park in a new six-story garage.

While future phases are set to include more retail, multifamily elements, entertainment options and hotels, the developers pivoted to another use early in the build-out: they broke ground about a year ago on a four-story, 68,000-square-foot office building with ground-floor retail after they were approached by an unidentified Fortune 500 tenant.

It’s set to open soon, Wunsch said, and one tenant has already fully leased the second and third floors, with 17,000 square feet available on the fourth floor and 9,800 square feet of retail available on the bottom. Leases are hovering around $40 per square foot plus triple nets — higher than the market average.

“We’re pretty sure we’ll fill that up pretty quickly,” Wunsch said.

That’s quite a feat at a time when office space is going sour in Austin, but it’s part of a growing trend in Austin’s fast-growing suburbs, where cities and developers are aiming to bring more office users to serve as the catalyst for community hubs.

To view the story in its entirety from the Austin Business Journal, CLICK HERE.

The Hutto Co-Op District is growing up — literally.

Work is underway on a four-story, 64,000-square-foot class A office building and a six-story, 450-spot parking structure at the entertainment district along Highway 79, Co-Op developer MA Partners announced on Feb. 21.

The projects add unprecedented density to the 35-acre, mixed-use development, which is already home to Hutto City Hall, the Hutto Public Library, local-grown restaurants like Top Notch Hamburgers and Southside Market BBQ and weekly farmers markets. The walkable design is slated to be connected to the city’s historic downtown by way of upgrades to Live Oak Street.

A year ago, the city of Hutto updated a development agreement that called for the construction of parking garages on site, as well as tightened deadlines on the delivery of the project and strengthened penalties. Other revisions included putting MA Partners in charge the district’s splash pad, amphitheater and green space, according to Community Impact.

Developers this month broke ground on the office building, which includes retail offerings on the ground floor and offices with floor-to-ceiling glass. There will also be opportunities for 10-foot ceiling heights or greater for tenants that prefer a lofted aesthetic, according to the announcement. Architectural details include wood soffits, decorative steel panels and an elevated pedestrian experience. It was designed by Hip.Hop.Design Studio, led by architect James Cornetet and interior designer Nicole Cornetet.

A representative for the project said they are in the “paperwork stages” of discussions with tenants. There is no estimate on a delivery of the building.

The office building is adjacent to the parking garage, which is designed by Walker Consultants and built by John King Construction. The six-story garage will accommodate 450 vehicles. It’s the city’s first parking garage and is being built using precast concrete, with each piece produced at Coreslab Structures in nearby Cedar Park and then transported to the construction site in Hutto and maneuvered into place, according to the city.

The parking structure will ultimately service Jack Allen’s Kitchen, which is expected to break ground on its long-anticipated location in the Co-Op District within the next 60 days. Both the restaurant and structure are expected to simultaneously open by the end of 2024.

The Co-Op District will de-facto serve as an extended downtown in the city of Hutto, which has a population of about 37,000 people and is about 30 miles northeast of Austin. The city has become a magnet for large-scale development, including at the nearby megasite, where tens of billions of dollars of investment is planned to yield industrial space, data centers and more.

“The bar has been set very high at The Co-Op, in terms of quality, craftsmanship and design aesthetic, and we want to ensure that from the moment you arrive on site, to your parking experience, to your visit to a restaurant, shop or office space, the experience is not only favorable, but also memorable,” MA Partners partner Bob Wunsch said in a statement.

To view the story from the Austin Business Journal, CLICK HERE.