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+/-19.81 Acres of Land
Austin, MSA
EXCLUSIVE DEVELOPMENT OPPORTUNITY
Executive Summary
Berkadia Real Estate Advisors is pleased to present the exclusive listing of Lockhart Place Townhomes Land Site, a +/-19.81-acre Build-for-Rent or Build-for-Sale development opportunity located in Lockhart, Texas. The Site is within a five minute drive to Clear Fork Elementary, Lockhart Jr. High School and Lockhart High School. Additionally, the Site’s location is perfectly positioned to benefit from the massive investments currently ongoing along State Highway 130 (SH-130). The safe, fast and reliable 85-mph highway system connects the Austin MSA to San Antonio and has drawn the attention of massive employers such as Tesla, Samsung and Amazon, among others.
These three Fortune 500 employers alone account for 26,500+ jobs along the critical highway system and continue to draw industrial, retail, and commercial development to the rapidly expanding region.
The shovel-ready Site is currently zoned under a planned development district and allows for the construction of a Build-for-Rent or Build-for-Sale townhome community. Current plans call for 196 townhomes, a centralized pool & amenity deck, a food truck plaza, public park & greenspace, dog park and additional amenity space.
Lockhart, Texas is most commonly referred to as the Barbeque Capital of Texas, however in recent years the City has undergone a small town renaissance. With the ongoing affordability dynamic in Austin, coupled with massive employers setting roots along SH-130, many families have begun flocking to the suburbs in search of quieter, more affordable living that still provides access to major employment and entertainment hubs. Lockhart has been at the fore-front of this major in-migration in recent years, seeing job growth expand 16%, from 2017-2021, with the addition of 700 new jobs in the City. Furthermore, the City’s population is expected to add over 5,000 new residents - being forecasted. Lockhart’s relative affordability, coupled with its premier location along the critical growth corridor SH-130, which has been attracting tens of thousands of jobs, provides an investor the opportunity to capitalize on this ongoing dynamic through the realization of a new Build-for-Rent or Build-for-Sale townhome community development.
Nearby Major Arterials Provides Convenient Access to Employment and Retail
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Where Business is Headed: State Highway 130
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Downtown Revitalization: A Small Town Renaissance
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Investment Highlights
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The Location
Jimmy McCartney
Senior Financial Analyst
512/226.8716
jimmy.mccartney@berkadia.com
Cole Johnson
Financial Analyst
512.960.2640
cole.johnson@berkadia.com
Analysts
Kelly Witherspoon
Senior Managing Director
512.226.8706
kelly.witherspoon@berkadia.com
Adam Sumrall
Director
512.960.2674
adam.sumrall@berkadia.com
Justin Cole
Senior Director
512.226.8711
justin.cole@berkadia.com
Producers
CONTACT Info | Austin Team
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Location Overview
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LOCATION
Lockhart’s remarkable architecture, long Texas history, affordability and relaxed small-town charm have drawn in an influx of individuals and families over the recent years, many of whom were Austin residents tired of the soaring real estate prices and expensive economic burden that come with life in a big city. This new migration trend has led to a revitalization of the once sleepy downtown Lockhart. Many new eateries, bars and boutique retail stores have popped up in recent years, helping restore life and vibrancy in the downtown area.
Future residents at Lockhart Place Townhomes are just minutes from downtown Lockhart which offers historic eateries such as the famous Black’s Barbecue, Terry Black’s Barbecue, Kreuz Market and Smitty’s Market. Additionally, The Site is within close proximity to newer establishments such as a local bar known as The Pearl, Loop and Lil’s hip pizzeria and The Culinary Room, to name a few. Other notable retail that future residents have convenient access to are HEB, Walmart, Sonic Drive-In, Whataburger, McDonalds and Schlotzsky’s.
Lockhart has seen notable employers beginning to plant roots in the City adding to the rapidly growing network of employment opportunities in the area. In 2022, Ziegenfelder, a large frozen treat manufacturer broke ground on their $46 million cold treat manufacturing plant which will add 100 jobs to the local labor market when complete in 2024. Additionally, Iron Ox Robotic Farms, which was touted as the City’s largest economic development in four decades, has re-branded to Inevitable Tech where they will shift focus to artificial intelligence, plant science and automation in an effort to help farmers grow food profitability.
Inevitable Tech is headquartered in the 530,000 square foot facility located in downtown Lockhart with ambitious plans of expansion. Lastly, The Site is perfectly situated to Lockhart’s primary schools with Clear Fork Elementary School, Lockhart Jr. High School, and Lockhart High School all being within a 5 minute drive.
The Site’s proximity to local economic drivers, coupled with the ongoing affordability migration will provide a strong tailwind for fundamentals well into the future.
Investment Highlights
Downtown Revitalization – A Small Town Renaissance
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Future residents at Lockhart Place Townhomes have convenient access to major arterials consisting of SH-130, Interstate-10 (I-10), Interstate-35 (I-35) and State Highway 142 (SH-142). These major arterials collectively transport 95,000+ average daily drivers and provide connectivity to employment and entertainment hubs such as Downtown Austin (37-minutes), San Marcos (30-minutes) and San Antonio (60-minutes). These three areas comprise the I-35 corridor which has seen an influx of development with respect to both employment and entertainment offerings recently.
Additionally, within 30-minutes of The Property, residents can access South Congress in Austin, as well as the Tanger and San Marcos outlets which offer some of the most sought after retail outlets in the nation. South Congress has developed an international profile and has become one of America’s premier shopping destinations. Future residents can easily access notable retailers such as Nike, Hermes, Madewell, Allo, as well as notable food destinations such as Home Slice, Magnolia Cafe, Torchy’s Tacos and Amy’s Ice Cream, among others.
Futhermore, residents can also access one of the nation’s premier retail outlets in San Marcos. The Tanger and San Marcos Outlets provide convenient and affordable access to retailers such as Nike, Neiman Marcus, Tecovas, William Sonoma and Lululemon, to name a few.
Lastly, Lockhart provides future residents of the Site with employment flexibility. With premier access to SH-130, residents can easily access Austin’s CBD which contains 61,000+ job’s or commute to the Tesla Giga Factory which now employs more than 20,000 workers. San Marcos, Kyle and Buda also provide great employment opportunites with the I-35 Corridors ongoing expansion.
Investment Highlights
Nearby Major Arterials Provides Convenient Access to Employment and Retail
Built in 2012, SH-130 is a $1.35 billion transportation project. SH-130 spans 91-miles and is a purpose-built highway system offering residents a safe, fast, and reliable alternative to the heavily congested I-35. SH-130’s onramp is just 2 miles from The Site and the highway stretches as far north as Georgetown and as far south as Seguin, enabling residents to seamlessly access the San Antonio MSA with little to no congestion along the way.
Furthermore, SH-130 has garnered a lot of attention over the years from employers seeking to streamline their internal infrastructure. Since its inception in 2012, companies such as Tesla, Amazon, and Samsung have intentionally positioned themselves along this critical arterial to reduce lag time in their supply network. This employment trend along SH-130 has continued to attract many notable employers as well as developers seeking to add retail, single family, and commercial space along the route. The safe, congestion-free nature of SH-130, coupled with the faster speed limits will continue to drive employer and developer attention to the area well into the future, boding well for Lockhart Place Townhomes.
Investment Highlights
Where Business is Headed – State Highway 130
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
Justin Chambers
Director 512.969.6838 justin.chambers@berkadia.com
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Caldwell County Sees Massive Employment Boom And Ideal Renter Demographic
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Lockhart is the County seat and the largest City in Caldwell County. The County has been the beneficiary of substantial job growth highlighted by a 28% growth factor over the past decade. This growth factor is above all national and state metrics except for its neighboring city, Austin, which experienced a 44.7% job increase during that same period.
Furthermore, Lockhart’s growth has steadily picking up in recent years due to the employment opportunities and the ongoing affordability crisis being experienced in Austin. From 2017-2021, the City gained 700+ new jobs growing 16% during that time frame. Lockhart’s job growth over this period rates second in the state behind Austin and is four times that of the United States national average.
Additionally, with the ongoing “flight to the suburbs” dynamic, Caldwell County has seen its prime rental demographic continue to expand. From 2010-2020 the U.S Census Bureau reported a growth rate of 32% for residents ages 20-34 years old. This strong rental demographic coupled with the influx of residents forecasted to move into Lockhart over the next five years positions the site to reap the benefits of strong demographics well into the future.
Investment Highlights
Caldwell County Sees Massive Employment Boom And Ideal Renter Demographic
Built in 2012, SH-130 is a $1.35 billion transportation project. SH-130 spans 91-miles and is a purpose-built highway system offering residents a safe, fast, and reliable alternative to the heavily congested I-35. SH-130’s onramp is just 2 miles from The Site and the highway stretches as far north as Georgetown and as far south as Seguin, enabling residents to seamlessly access the San Antonio MSA with little to no congestion along the way.
Furthermore, SH-130 has garnered a lot of attention over the years from employers seeking to streamline their internal infrastructure. Since its inception in 2012, companies such as Tesla, Amazon, and Samsung have intentionally positioned themselves along this critical arterial to reduce lag time in their supply network. This employment trend along SH-130 has continued to attract many notable employers as well as developers seeking to add retail, single family, and commercial space along the route. The safe, congestion-free nature of SH-130, coupled with the faster speed limits will continue to drive employer and developer attention to the area well into the future, boding well for Lockhart Place Townhomes.
Investment Highlights
Cedar Park’s Demographics & Single Family Affluency Create Renting Opportunities
Future residents at Lockhart Place Townhomes have convenient access to major arterials consisting of SH-130, Interstate-10 (I-10), Interstate-35 (I-35) and State Highway 142 (SH-142). These major arterials collectively transport 95,000+ average daily drivers and provide connectivity to employment and entertainment hubs such as Downtown Austin (37-minutes), San Marcos (30-minutes) and San Antonio (60-minutes). These three areas comprise the I-35 corridor which has seen an influx of development with respect to both employment and entertainment offerings recently.
Additionally, within 30-minutes of The Property, residents can access South Congress in Austin, as well as the Tanger and San Marcos outlets which offer some of the most sought after retail outlets in the nation. South Congress has developed an international profile and has become one of America’s premier shopping destinations. Future residents can easily access notable retailers such as Nike, Hermes, Madewell, Allo, as well as notable food destinations such as Home Slice, Magnolia Cafe, Torchy’s Tacos and Amy’s Ice Cream, among others.
Futhermore, residents can also access one of the nation’s premier retail outlets in San Marcos. The Tanger and San Marcos Outlets provide convenient and affordable access to retailers such as Nike, Neiman Marcus, Tecovas, William Sonoma and Lululemon, to name a few.
Lastly, Lockhart provides future residents of the Site with employment flexibility. With premier access to SH-130, residents can easily access Austin’s CBD which contains 61,000+ job’s or commute to the Tesla Giga Factory which now employs more than 20,000 workers. San Marcos, Kyle and Buda also provide great employment opportunites with the I-35 Corridors ongoing expansion.
Investment Highlights
Nearby Major Power Centers Provide Amenities & Essentials
Future residents at Lockhart Place Townhomes have convenient access to major arterials consisting of SH-130, Interstate-10 (I-10), Interstate-35 (I-35) and State Highway 142 (SH-142). These major arterials collectively transport 95,000+ average daily drivers and provide connectivity to employment and entertainment hubs such as Downtown Austin (37-minutes), San Marcos (30-minutes) and San Antonio (60-minutes). These three areas comprise the I-35 corridor which has seen an influx of development with respect to both employment and entertainment offerings recently.
Additionally, within 30-minutes of The Property, residents can access South Congress in Austin, as well as the Tanger and San Marcos outlets which offer some of the most sought after retail outlets in the nation. South Congress has developed an international profile and has become one of America’s premier shopping destinations. Future residents can easily access notable retailers such as Nike, Hermes, Madewell, Allo, as well as notable food destinations such as Home Slice, Magnolia Cafe, Torchy’s Tacos and Amy’s Ice Cream, among others.
Futhermore, residents can also access one of the nation’s premier retail outlets in San Marcos. The Tanger and San Marcos Outlets provide convenient and affordable access to retailers such as Nike, Neiman Marcus, Tecovas, William Sonoma and Lululemon, to name a few.
Lastly, Lockhart provides future residents of the Site with employment flexibility. With premier access to SH-130, residents can easily access Austin’s CBD which contains 61,000+ job’s or commute to the Tesla Giga Factory which now employs more than 20,000 workers. San Marcos, Kyle and Buda also provide great employment opportunites with the I-35 Corridors ongoing expansion.
Investment Highlights
Caldwell County Sees Massive Employment Boom And Ideal Renter Demographic
Lockhart Place Townhomes Land Site