Hilco Real Estate Announces The Sale Of Austin-Area Development Land Along I-35 In Georgetown, Texas
NORTHBROOK, Ill., March 19, 2020 /PRNewswire/ -- Hilco Real Estate, LLC announces May 7, 2020 as the managed bid deadline for the sale of 194± acres of development land located along I-35 north of Austin in Georgetown, Texas. Immediately available are three parcels totaling 17 acres; however, additional prime parcels are also available.
Georgetown is located 25 miles north of downtown Austin. Having grown 56% since 2010 with over 74,000 residents to date, Georgetown has become one of the nation's top ten fastest-growing cities. Through a combination of affordable housing, low cost of living and proximity to major employers, Georgetown provides a sustainable environment for its new and current residents, as well as a fertile environment for businesses to thrive.
The development tracts are located near large retail amenities, including Round Rock Premium Outlets, Wolf Ranch Town Center and University Oaks Shopping Center. Situated along I-35 between Georgetown and Round Rock, these parcels are also in proximity to major attractions including Round Rock Sport's Center, Kalahari Resort and Dell Diamond. I-35 provides a traffic count of over 157,000 vehicles per day and is expected to increase once the Inner Loop extension (Southwest Bypass) is completed in the coming weeks. To the east, the property is bordered by FM1460 (A. W. Grimes Blvd.), which serves as a major north/south corridor connecting Round Rock and Georgetown, boasting nearly 11,000 vehicles per day. The sites are also near North Austin's major employers including the Dell headquarters (13,000 employees), Baylor Scott & White Medical Center (800 employees), and Seton Medical Center Williamson (450 employees), as well as five universities, including Texas State University Round Rock, Texas A&M Health Science Center, Austin Community College, Southwestern University and Temple College.This offering represents a prime opportunity for industrial, retail, multifamily and hospitality developers to invest in one of the nation's fastest-growing, sought-after corridors.
Jeff Azuse, senior vice president at Hilco Real Estate, stated, "These development parcels are located within one of the hottest markets in the nation and provide an incredible opportunity for a variety of developers to get in on the action." He continued, "These sites represent the largest interstate development parcel available anywhere in Central Texas and provide a variety of potential future uses, parcel sizes, and accessibility – characteristics that should make this property very interesting to developers, investors and end users alike."
Steve Madura, senior vice president at Hilco Real Estate added, "Due to the extreme volatility of the stock market in recent days, investors are seeking alternative opportunities that provide a safe haven from the current global uncertainty…and real estate, especially land located in the path of development, has historically provided the long-term stability and diversification investors seek. As such, we expect an overwhelming response to this offering."
The bid deadline is scheduled for Thursday, May 7, 2020. Bids must be delivered to the offices of Hilco Real Estate on or before 5:00 p.m. (CT) on the day of the deadline to be considered. Interested buyers should review the detailed sale terms for requirements in order to participate in the sale process available on Hilco's website. For further information, please contact Steve Madura at (847) 504-2478 or [email protected]. Bids may be submitted via mail to the following address: Hilco Real Estate, 5 Revere Drive, Suite 320, Northbrook, IL 60062, or via email to [email protected].
For further information on the property, an explanation of the sale process, sale terms or to obtain access to property due diligence documents, please visit HilcoRealEstate.com or call (855) 755-2300.
About Hilco Real Estate
Hilco Real Estate ("HRE"), a Hilco Global company (HilcoGlobal.com), is headquartered in Northbrook, Illinois (USA). HRE is a national provider of strategic real estate disposition services. Acting as an agent or principal, HRE uses its experience to advise and execute strategies to assist clients in deriving the maximum value from their real estate assets. By leveraging multi-faceted sales strategies and techniques, aggressive repositioning and restructuring experience, a vast and motivated network of buyers and sellers, and substantial access to capital, HRE exceeds expectations even in the most complex transactions.
Media Contact:
Gary Epstein
Hilco Global
Office: (847) 418-2712
Mobile: (847) 323-4943
Email: [email protected]
SOURCE Hilco Real Estate
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