10700 Genome Dr | Manor, TX 78653
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Executive Summary
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The Grand at Manor showcases top-of-the-line interior finish-outs that heavily cater to the renter by choice demographic. The thoughtfully curated interior amenities consist of kitchen islands with granite countertops, Whirlpool stainless steel appliances, sleek custom cabinetry with brushed nickel hardware, modern plumbing, and lighting fixtures, nine-foot ceilings, and expansive walk-in closets, to name a few.
The Property offers modern community amenities that consist of a state-of-the-art fitness facility with a smart mirror guided fitness room, cardio equipment, free weights and machines, a business center which enables residents to conduct business meetings or work from home in a quieter environment, an expansive dog park and spa, a brand new pickleball court, a resort style swimming pool featuring outdoor stainless steel grilling stations, a plethora of seating options ranging from shaded picnic areas to chaise lounges, ping pong tables, and fire pits for unwinding after a fun-filled day of outdoor activities.
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10700 Genome Dr | Manor, TX 78653
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.
2500 Bee Cave Road Building 3 Suite 550 Austin, TX 78746
Investment Sales
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CONTACT Info
Adam Sumrall
Director
512.960.2674
adam.sumrall@berkadia.com
Justin Chambers
Director
512.969.6838
justin.chambers@berkadia.com
Justin Cole
Managing Director
512.226.8711
justin.cole@berkadia.com
Michael Gonzalez
Senior Director
248.341.3338
michael.gonzalez@berkadia.com
Kelly Witherspoon
Senior Managing Director
512.226.8706 kelly.witherspoon@berkadia.com
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Well-Maintained Property Featuring Modern Elegance
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The Grand at Manor has been a beacon of operational efficiency within Manor, Texas. Since reaching stabilization in September 2022, The Property has maintained an average occupancy of 94% showcasing the consistent demand over an extended period for residents to reside at The Grand at Manor. Furthermore, in that same period, occupancy at The Property has not dipped below 91%. Additionally, The Grand at Manor stands to benefit greatly from future rent growth and occupancy fundamentals. Currently, Yardi Matrix forecasts very strong rent growth and occupancy in the Manor submarket with an average annual growth rate of 4.65% and an average occupancy of just over 96% from 2025 to 2028. Lastly, within 3 miles of The Property, the median household income is $96,530 which bodes extremely well for rental fundamentals at The Property. Applying the 3x rule to the median household income for the area shows that there is plenty of room for rent growth without overburdening residents in Manor. With an annual salary of $96,530, a potential resident can afford to rent up to $2,681/mo., highlighting a massive rental runway for a potential buyer.
OUTSTANDING OPERATIONAL EFFICIENCY WITH RENT GROWTH RUNWAY
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The Grand at Manor is perfectly positioned just off Highway 290 which provides seamless connectivity to the entire Austin MSA. The East-West running Highway 290 provides direct access to North-South running arterials: State Highway 130, and Interstate 35. These three major roadways combined transport over 375,000 drivers per day. With direct access to Manor and Austin’s major arterials, residents at The Property can take advantage of the shortened drive times to many of the most notable employment and entertainment hubs. Within 25-minutes of The Property, residents have access to over 154,000+ job opportunities with many notable Fortune 500 companies such as Samsung (13-minutes), Dell Technologies (15-minutes), Meta (19-minutes), Apple (19-minutes), Google (20-minutes), and Tesla (24-min), among others being easily accessible.
Lastly, with the exceptional drivability, residents can easily access key entertainment destinations such as downtown Austin (19-minutes), South Congress (24-minutes), The Domain (17-minutes), Q2 Stadium (15-minutes), Walter E. long Lake (14-minutes), among others.
MAJOR ARTERIALS CLOSE BY PROVIDE EFFICIENT CONNECTIVIT Y TO KEY ECONOMIC AND EMPLOYMENT HUBS
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Built in 2012, State Highway 130 (SH-130) is a $1.35 billion dollar 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 onramp is just 2-miles from The Grand at Manor 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 congestions 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.
WHERE BUSINESS IS HEADED – STATE HIGHWAY 130
Berkadia’s Multifamily Investment Sales Team is pleased to announce the exclusive listing of The Grand at Manor (“The Property”), a 271-unit Class-A apartment community ideally located off Highway 290 in the burgeoning City of Manor, Texas. Developed by CLX Ventures in 2021, The Property is built across 12.47 acres for a moderate density of just under 22 units per acre. The Property is conveniently located within a 1-mile walking distance from Manor ISD’s three primary schools. Additionally, The Grand at Manor’s prime location allows residents access to all the major retail centers within Manor, including the highly anticipated retail center, Manor Crossing, which will sit at the northwest corner of Highway 290 and FM 973 and house retail giants such as Home Depot, T.J Maxx and HEB, among others. The superb location of The Grand at Manor with convenient access to notable retail and education coupled with seamless access to the entire Austin MSA via Highway 290 and Highway 130 positions The Grand at Manor with a competitive advantage well into the future.
The Grand at Manor provides residents with top-of-the-line interior finish-outs which include kitchen islands with granite countertops, Whirlpool stainless steel appliances, sleek custom cabinetry with brushed nickel hardware, modern plumbing and lighting fixtures, nine-foot ceilings, and expansive walk-in closets, to name a few. Additionally, The Grand at Manor offers community amenities such as a state-of-the-art fitness facility with a smart mirror guided fitness room, cardio equipment, free weights and machines, a business center which enables residents to conduct business meetings or work from home in a quieter environment, an expansive dog park and spa, a brand new pickleball court, a resort style swimming pool featuring outdoor stainless steel grilling stations, a plethora of seating options ranging from shaded picnic areas to chaise lounges, ping pong tables, and fire pits for unwinding after a fun-filled day of outdoor activities. With the top-of-the line amenity offering and proximity to major economic drivers, The Grand at Manor has been the gold standard for operational efficiency, seeing occupancy at The Property average 94% since reaching stabilization in September 2022.
The Grand at Manor provides an investor a rare opportunity to own a premier apartment community in one of Travis County’s fastest growing cities, and perfectly positioned to reap the benefits of major economic drivers currently under construction and planned.
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