Avison Young Austin positioned for growth after Tesla’s announcement to build in East Austin

Avison Young Austin positioned for growth after Tesla’s announcement to build in East Austin 26 Jul 2020

The Land Development and Industrial team have been steadily working the Manor market for years

Avison Young Austin positioned for growth after Tesla’s announcement to build in East Austin

 

The Land Development and Industrial team have been steadily working the Manor market for years

 

Austin, TX – The announcement of Tesla choosing Austin as home to its second Gigafactory location has burst the door open to Austin’s east side and surrounding communities such as Manor, TX. As ground breaks and dirt begins to move for the Tesla Gigafactory, we expect to see a new wave of interested investors and developers flocking to these once overlooked areas. 

This bedroom community that is home to major players like Samsung and Applied Materials was on a steady path of growth prior to Tesla’s announcement. Avison Young’s Land Development & Industrial team, Sullivan Johnston, John Baird, and Michael Kennedy have seen a tremendous amount of interest in the properties Avison Young represents in the Manor area noting, “we have felt a steep ramp up of interest in sites near 290 and 130 over the last year and expect that trend to continue,” said Sullivan Johnston. The team has been working with deeply rooted property owners in the area such as Pete Dwyer of Dwyer Realty Companies who are well-versed in navigating future development and preparing and executing masterplan developments like Lagos, Las Entradas, and Wildhorse.

“I’ve been working in the Manor market for years in anticipation of the area’s eventual heyday; with the announcement of Tesla, the batteries are now fully charged,” states Pete Dwyer, Owner, Dwyer Realty Companies. “We just so happen to be well-positioned with strategic property holdings around the Manor area, such as Wildhorse, Las Entradas North and South, Lagos, and Presidential Glen, among others, but we continue to need the cities and Travis County to approve our special financing districts like PIDs and MUDs so we can build the badly needed infrastructure."

Quick Stats:

  • Tremendous uptick in growth and interest in Manor since development of SH 130 + 290
  • Manor is only a 15 minute drive to Downtown Austin & 10 Minutes to Tesla 
  • Excellent access to major highways & tollways 
  • Ample affordable housing 

The team’s Manor listings include a 10 Acre retail development parcel for sale at the corner of SH-130 and Parmer Lane; Lagos, a 340 acre mixed-use site; Las Entradas North and South commercial tracts, and 13201 Bois-D-Arc Rd, a self-storage/ commercial development site.                           

Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises thousands of real estate professionals in more than 100 offices around the world. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors.

Avison Young is a 2020 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.

www.avisonyoung.com

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For more information:

·         Sullivan Johnston, Associate, Austin Texas: 512-717-3073