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LAKELINE LAND OFFERING MEMORANDUM | AUSTIN, TEXAS 3.94 Acres - Adjacent to Lakeline Mall Lake Line | Austin, Tx
SUMMARY . EXECUTIVE VD BL INE KEL S LA
JLL is pleased to offer the unique opportunity to purchase Lakeline Land (the “Property” or the “Site”), 3.94 acres of raw land in Austin, Texas. Situated at the northwest corner of US-183 and FM-620, the Property offers convenient access to the adjacent Lakeline Mall R. and nearby Capital Metro Lakeline Station. Additionally, the Property is centrally located L D AL to major employers, rapidly growing residential areas, and significant business and retail E M LIN centers across the city. KE . 4 AC LA Lakeline Land’s prime location along Austin’s path of northern growth provides quick access to the western hill country, northern suburbs, and a major highway leading directly into the heart of Austin. Situated north of booming central Austin and just south P of some of the fastest growing suburbs in America, the Property’s location is one of the . E D C V best in the Greater Austin area. Popular surrounding retail includes H-E-B plus!, Wal-Mart L A N B Supercenter, Chick-fil-A, and the Austin Aquarium. The surrounding submarkets remain E P N A some of the preferred destinations for major corporations in technology, engineering, I R L FURNITURE GALLERY K E financial services and more, further highlighting the Property’s prime location. G B
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. . LAKELINE MALL 1,0 7,7 SF PROPERTY SUMMARY
LOCATION 11225 Pecan Park Austin, TX 78750
PARCEL # R-16-4325-000A-001
SITE AREA 3.94 Acres
COUNTY/CITY/STATE Travis/Austin/Texas
CURRENT ZONING CH - Commercial Highway
PERMITTED USES Commercial, Office, Retail, Residential JLL | 3
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. . LAKELINE MALL 1,0 7,7 SF Lake Line | Austin, Tx
LAKE TRAVIS INVESTMENT HIGHLIGHTS DRIVE TIMES The Domain 16 MIN GREAT HILLS COUNTRY CLUB & CBD 24 MIN GOLF COURSE IRREPLACEABLE LOCATION AND CONNECTIVITY
Lakeline Land enjoys exceptional access to major thoroughfares including US ANDERSON MILL Highway 183, State Highway 45, Parmer Lane, and MoPac Expressway (Loop 1), providing superior access to nearby high growth suburban communities which provide a strong employee base. L C M F L C Capital Metro’s Lakeline Station is within walking distance of the Property, HOBBY LOBBY ANDERSON BURLINGTON COAT offering tenants convenient access to the entire metro area on the 32-mile MILL FACTORY L C ROSS commuter route connecting the rapidly growing Northwest suburbs to The L M VILLAGE S C HAVERTYS Domain, Central Austin, East Austin, and Austin’s Central Business District 140,000 VPD L P SAVERS The Property is proximate to surrounding retail and restaurants including major destinations such as Lakeline Mall, H-E-B anchored Lakeline Market, FAST EDDIES 1890 Ranch, The Parke, and La Frontera, which are all within a 10-minute drive WATERLOO H S C of the Property and provide an abundance of nearby shopping and dining BILLIARDS E IV L M destinations. R L D AL N LAKE CREEK M PK NE WY LI THRIVING AUSTIN ECONOMY KE LA Austin remains one of the most vibrant cities in America due to its low cost P of doing business, highly educated workforce and high quality of life that S C appeals to corporations and residents nationwide. Austin is one of the nation’s fastest growing metropolitan areas: led by record-setting population LVD growth (19.8% from 2010-2016) and employment growth (146,200 jobs added E B LIN 2013-2017). AKE L
ULI ranked Austin as the “#1 City for Real Estate Investment” in 2017 and the “#2 City for Real Estate Investment in 2018.” Forbes also awarded Austin both the “Fastest Growing City in the Country” and among the “Top Five Best Cities for New Jobs” four years in a row, with an impressive 151 people moving to the city per day.
L S 10 M W JLL | 5
LAKE TRAVIS
GREAT HILLS COUNTRY CLUB & GOLF COURSE
ANDERSON MILL
L C M HOBBY LOBBY F L C ANDERSON BURLINGTON COAT MILL FACTORY L C ROSS L M DEMOGRAPHICS VILLAGE S C HAVERTYS 140,000 VPD L P SAVERS LAKELINE LAND POPULATION
FAST EDDIES 2019 Estimate 11,808 104,576 214,244 WATERLOO H S C BILLIARDS E IV L M % Change 2010 DR 72% 20% 20% L to 2019 AL N LAKE CREEK M PK NE WY LI AFFLUENCE & EDUCATION KE LA
P 2019 Average $83,989 $108,437 $116,895 S C Household Income
D BLV HOUSING & HOUSEHOLDS NE ELI LAK
2019 Average $283,285 $304,966 $329,329 Housing Value
L S 10 M W Lake Line | Austin, Tx
ROUND ROCK CEDAR PARK 183 NORTHWEST CORRIDOR
NEW APPLE CAMPUS
TECH RIDGE
LAKE TRAVIS THE DOMAIN
APPLE CAMPUS
LOOP 360 AUSTIN CORRIDOR
CENTRAL BUSINESS DISTRICT
ORACLE CAMPUS JLL | 7
INVESTMENT HIGHLIGHTS
CLOSE PROXIMITY TO MAJOR EMPLOYERS Lakeline Land is positioned near some of 183 Corridor’s largest employers. The Property is located just northwest of an existing 7,000 employee Apple campus. The world’s largest tech company also has plans to increase its footprint in Austin by constructing a $1 billion, 133-acre campus just a mile from its existing site and a few miles from the Property. The new campus is set to accommodate 15,000 employees in its final phase, with an initial 5,000 employees set to move-in as early as late 2021.
Nearby, Fortune Global 500 company Accenture operates a 2,700-employee campus, making “Austin’s Top 30 Largest Employers List,” according to the Austin Chamber of Commerce. Other large Austin tech
APPLE CAMPUS employers on the list, with nearby campuses, include Oracle and National Instruments, each employing approximately 2,500 employees throughout the Austin area.
With the presence of these major tech corporations in addition to local startups, the surrounding northwest corridor has been nicknamed “Austin’s Tech & Startup Corridor” and continues to attract additional growing companies. Other notable nearby employers in the 183 Corridor include Visa, Cisco, PayPal, Electronic Arts, and Activision, all contributing to Austin’s nickname “Silicon Hills.”
NOTABLE NEARBY EMPLOYERS
ORACLE CAMPUS Lake Line | Austin, Tx
LEANDER STATION CAPITAL METRO’S LOCATION OVERVIEW RAIL LINE
Northwest Austin is a preferred location for businesses, residents and visitors; offering diverse employment opportunities and exceptional amenities. Set in Austin’s path of growth north, Lakeline Land boasts many appealing qualities, including:
CEDAR PARK ROUND ROCK LAKELINE LAND Convenient Proximity to Growing Location within Highly Educated Desirable Shopping Highway Accessibility Residential Areas Austin’s High-Tech Corridor Workforce & Restaurant Destinations LA ELINE STATION
LAKELINE MALL
CONVENIENT ACCESSIBILITY Northwest Austin offers an extensive transportation network of new and expanded roadways, including US 183/183A, HOWARD MoPac (Loop 1), State Highway 45, and FM 620. Lakeline Land is along Lakeline Blvd, near the intersection of SH-45 and US 183, two thoroughfares that afford excellent access to growing residential areas such as Cedar Park, Leander, Georgetown, and Round Rock.
CAPITAL METRO RAMER/THE DOMAIN “Capital Metro connects people, jobs, and communities by providing quality transportation choices.” LAKE TRAVIS THE ARBORETUM Capital Metro’s Lakeline Station is one of the nine stops along the Metrorail red line, a 32-mile commuter route connecting the rapidly growing Northwest sector of the region to The Domain, Central Austin, and Austin’s CBD. Lakeline Station features transit ridership from Cedar Park, and nearby towns including Liberty Hill, Bertram, Georgetown, Round Rock, 360 and Leander. CRESTVIEW BOOMING RESIDENTIAL AREAS HIGHLAND Lakeline Land sits adjacent to several of Austin’s most desirable and fastest growing communities, including the cities of Cedar Park, Round Rock, Leander, and Georgetown each ranging from a 10-30-minute drive from the Property. Due to its AUSTIN heavily wooded terrain and abundant lakes, Northwest Austin is one of the premier residential areas in the region. This area features some of the most sought-after residential neighborhoods in Austin, including developments such as Avery Ranch, Ashton Woods, Twin Creeks, Bella Vista, and Crystal Falls. UNIVERSITY OF TEXAS 360 ML R. DOWNTOWN PLAZA SALTILLO JLL | 9
LEANDER STATION CAPITAL METRO’S RAIL LINE TECHNOLOGY CORRIDOR The Northwest submarket is the hub of Austin’s high-tech sector, making it one of the most attractive corporate locations in the region. Ranging from software to biotechnology, advanced manufacturing to clean tech, Austin is home to more than 4,400 technology companies and over 120,000 technology employees. Apple’s $1 billion expansion announcement, along with its completed $300 million expansion just south of Lakeline Land, has bolstered the local technology sector, and dozens of other firms have recently announced efforts to relocate CEDAR PARK ROUND ROCK or expand their operations in the Austin area. Apple, Oracle, Accenture, and LAKELINE LAND National Instruments are each a short 15-minute drive from the Property. Additionally, large multinational corporations including Dell, GM, IBM, Amazon, LA ELINE STATION and Google all maintain a significant tech presence in Northwest Austin.
LAKELINE MALL HIGHLY EDUCATED WORKFORCE Austin has one of the most highly educated populations in the country, with HOWARD more than 40% of residents holding a bachelor’s degree. 26 local colleges and universities, including the University of Texas at Austin, St. Edwards University, and Austin Community College, have a combined enrollment of over 180,000 college students. Outstanding higher education opportunities are available within minutes of Lakeline Land, and the area’s K-12 schools are among the best in the city of Austin. Finance, science and technology, healthcare, and education RAMER/THE DOMAIN services are the top industries in the immediate area.
THE ARBORETUM LAKE TRAVIS DESIRABLE AMENITIES Austin’s location along the Colorado River, at the base of the Texas Hill Country, 360 allows residents to enjoy more than 14,000 acres of public green space within the city and an additional 7,500 acres in the nearby hills to the west. Lakeline Land’s CRESTVIEW superior location is equidistant from downtown Austin and many of the area’s finest recreational destinations, including Lake Travis, Lake Austin, the Balcones HIGHLAND Canyonlands, and the scenic Texas Hill Country. In addition, many of Austin’s premier shopping and dining outlets are readily accessible from Lakeline Land. AUSTIN Lakeline Mall, Lakeline Plaza and the 1890 Ranch Shopping Center are all within a 10-minute drive of the Property, and several hotels also serve the surrounding trade area.
UNIVERSITY OF TEXAS 360 ML R. DOWNTOWN PLAZA SALTILLO Lake Line | Austin, Tx
ECONOMIC OVERVIEW
AUSTIN, TEXAS | THRIVING ECONOMY Although it maintains a laid-back vibe, the city dedicated to “Keeping Austin Weird” shows no signs of slowing down. A booming economy, growing job market, high quality of life and low cost of living make Austin a sought- after city for all ages. As one of the nation’s top economic performers, Austin is a thriving city with a young, highly educated and vibrant population that attracts business and tourism. The metro leads the nation in terms of population growth, fueled largely by the strongest rate of in-migration with an impressive 151 people moving to the city a day. The 11th largest population among U.S. cities, Austin’s population has expanded 23% between 2010 and 2017. The population explosion of the Texas capital, which reached approximately 2.1 million last year, is expected to soar 98.5% to nearly 4 million by 2040. Nearly doubling in size, Austin’s population is projected to grow faster than any other large U.S. city in the next 25 years. Named among Forbes 10 Best Cities for Jobs, Austin has one of the best job markets in the nation with a trend of nearly 20-year lows in the metro’s monthly unemployment rate. In the 12 months ending in November 2018, the Austin metro added 35,200 net new jobs, a growth rate of 3.3% and the seasonally adjusted unemployment rate is currently 2.7% (3.5% nationally).
Consistently named among the best places to live and work, Austin is universally regarded for its thriving economy, low cost of living and enviable quality of life. Austinites enjoy a reasonable cost of living with a median home price that is below the national average, lack of state income taxes and the highest per capita income of all major cities in the Lone Star State. In addition to a burgeoning downtown and prosperous employment opportunities, the city offers many museums, performing arts venues, sporting events and recreational activities. Affectionately deemed “The Live Music Capital of the World”, Austin boasts over 1,700 live music venues and is home to South by Southwest (SXSW) and the ACL Music Festival, two of America’s largest media events. Austin is an enchanting city celebrated for its robust natural beauty and abundance of outdoor amenities, including Lady Bird Lake, Austin Hike and Bike Trail, Barton Creek, Lake Austin and numerous greenbelts. Central Texas boasts a cosmopolitan atmosphere without the big city stress and it is not hard to see why many people love to call Austin home. JLL | 11
BEST PLACE TO LIVE IN THE U.S. 2017 & 2018 U.S. News and World Report
27.4M 151 2.1M MILLION ANNUAL NEW RESIDENTS MSA POPULATION VISITORS DAILY The Most Populous City Forbes Brookings Institution in the U.S.
NO.1 NO.1 NO.2 NATION’S TOP BEST BIG CITY TO BEST JOB HIGH-TECH HUB LIVE IN AMERICA MARKET Wall Street Journal Money Forbes Lake Line | Austin, Tx
ECONOMIC OVERVIEW
ROUND ROCK
CEDAR PARK AUSTIN, TEXAS | HIGH-TECH HUB Austin’s economy continues to benefit from the technology sector boom that began in the 1990s, dubbing the metropolitan area “Silicon Hills”. One of the nation’s preeminent locations for technology, Austin is now growing four times faster than most of Silicon Valley--drawing talent and startups from all 1 over the country.
CORPORATE EXPANSIONS & RELOCATIONS
• In the past decade Austin is the No. 1 city gaining company migrations from California. • Austin has the highest tech salaries in the nation with an average salary of $202,000. (Adjusted for cost of living) AUSTIN • 138,000 tech-related jobs. (14% of total jobs compared to 7% nationally) • Austin’s strong tech presence fuels $31 billion into the economy, accounting for about 35% of the total.
CENTRAL BUSINESS DISTRICT
“Literally, many, many pieces of our AUSTIN BERGSTROM INTERNATIONAL AIRPORT company are here. The team here is a very critical part of our company, and we’ve been very happy here.”
TIM COOK, CEO OF APPLE JLL | 13
ROUND ROCK IT INNOVATION CENTER CEDAR PARK 1 ,000 , 00 2,800 EM LO EES EMPLOYEES EMPLOYEES (7,400 Potential)
1 ,000 ,000 2,700 EM LO EES EM LO EES EM LO EES (11,000 Potential)
5,000 ,800 1,800 EM LO EES EM LO EES EM LO EES (10,000 Potential) (4,500 Potential)
AUSTIN
CENTRAL BUSINESS DISTRICT APPLE ANNOUNCES NEW $1 BILLION AUSTIN AUSTIN BERGSTROM INTERNATIONAL AIRPORT CAMPUS AS PART OF BIG U.S. EXPANSION
The new 133-acre development is expected to make it the largest private employer in Austin. Apple expects the new campus to accommodate 5,000 employees at first, though it will ultimately have a total capacity of 15,000. LakeContact Line | Austin, InformationTx
ADVISORS
Garrett Gilleland Director JLL Capital Markets +1 512 532 1968 [email protected]
Schafer Smartt Analyst JLL Capital Markets +1 512 532 1972 [email protected]
DEBT CONTACT
Chris McColpin Senior Director JLL Capital Markets +1 512 532 1941 [email protected]
500 West 5th Street, Suite 1200 | Austin, TX 78701
www.us.jll.com/capitalmarkets
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