Friday , 31 March 2017
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Los Angeles Group Buys Austin Acreage

AUSTIN – Karlin Real Estate has acquired 297 acres – one of the largest parcels of developable land in northeast Austin – for a master planned technology and office park.

The site, located near Interstate 35,  is bordered by McCallen Pass on the West, E. Howard Lane on the North, Harris Ridge Boulevard on the East and Tech Ridge Boulevard on the South, is currently zoned for up to 9 million sf of office, industrial, hotel and retail uses.

Matthew Schwab is managing director of Los Angeles-based Karlin.“Major corporations are attracted to Austin for its reputation as a vibrant business community which is sparked by the flood of intellectual capital coming into the city that will continue the overall trend of job growth,” said Schwab. “Based upon the large blocks of space rapidly being absorbed, we believe Austin is one of the few cities in the country ready for new development.”

The land neighbors three large commercial and industrial/warehouse buildings totaling approximately 900,000 square feet, which were acquired in separate transactions by Karlin earlier this year. Two of the buildings were 100 percent leased at closing. The third, a vacant 320,000 square-foot Class A office building was subsequently leased by Karlin to General Motors in a long-term lease transaction.

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