FOR SALE: ±6.80 Acres, Highway 290, Manor TX
±6.8 Acres - Commercial Land
Marketing description
Harvest MXD has been exclusively retained to execute the sale of ±6.80 acres of land, which can be subdivided, located off Interstate 290 in Manor, Texas 13119 E 290 Hwy (the “Property”). The Property is well located just 10 miles northeast of Austin with direct highway access to nearby regional hubs such as The Domain, Austin-Bergstrom International Airport, Round Rock, Downtown Austin, College Station, and Houston, provided by US Highway 290 and State Highway 130.
In-migration from east and west coast markets has continued as individuals seek greater affordability and employment opportunities. This trend is causing cities like Austin to expand at an unprecedented rate, and once rural towns to become coveted suburban in-fill locations.
The Property caters to numerous high income residential neighborhoods, daytime employment trades within the construction industry and high paying manufacturing jobs in the tech industry including the Tesla Gigafactory and two (2) Samsung Semiconductor manufacturing plants (10, 5.5, and 14 miles away respectively). Within a 3-mile radius of the property there are three proposed projects that will bring an ± 370,950 sf of Industrial space, 110 hotel rooms, 930 multifamily units, and 100,000 sf of self storage space. Additionally, HEB grocery store is anchoring a new retail shopping center development ±1 mile west of the Property at the northwest corner of FM 973 and US Hwy 290. Other tenants at the center include TJ Maxx, Chick-fil-A, Chipotle, Five Guys, Panera, James Avery, and Discount Tire.
The Property provides end-users and commercial developers a unique opportunity to deliver much needed commercial concepts to this explosive growth market.
Investment highlights
EXPLOSIVE GROWTH MARKET:
The submarket is expanding at a ±15% annual growth rate with new housing being built at one of the fastest rates in the State of Texas.
Population growth is being driven by major employment hubs including the $1.1 billion Tesla Gigafactory, which is approximately 10 miles south of the Property and is expected to employ over 5,000 people.
Amazon recently opened a new 820,000 SF fulfillment center just over 5 miles to the west that employs an estimated 1,000 people.
Samsung has two (2) semiconductor manufacturing facilities in the area which are 5.5 miles west and 14 miles north of the Property. It has invested over $17 billion and created over $4 billion in economic activity for the region, employing over 10,000 people.
EXCELLENT VISIBILITY & REGIONAL ACCESS
The Property has excellent visibility to over 53,000 vehicles per day from the heavily trafficked Highway 290 which connects Austin to Houston and College Station. This is expected to increase exponentially due to the growth of the submarket.
Additionally, a signalized intersection is planned immediately east which will extend Bois-D-Arc Road south and connect to the property via shared access through the adjoining Landmark multifamily property.
Significant infrastructure investment has been made in the immediate area, with more planned, including the $1.35 billion SH 130 construction and US 290 expansion, which connects Austin to College Station (Texas A&M) and the Houston MSA. These highways are facilitating the continued growth of the Austin MSA, which is growing mostly east.
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