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Classified in: Business
Subject: RLE

Hilco Real Estate Announces The Sale Of Two Austin-area Development Sites Along I-35 In Georgetown, Texas

NORTHBROOK, Ill., Nov. 22, 2021 /PRNewswire/ -- Hilco Real Estate, LLC announces the sale of two separate development parcels along I-35 north of Austin in Georgetown, Texas. Located in a high-growth area of Georgetown is a 72.8± acre multi- and single-family development tract and approximately ten miles north is a 4.2± acre fully entitled commercial land site. Both properties are within eight miles of Georgetown Municipal Airport and approximately forty miles from Austin-Bergstrom International Airport. The bid deadline for both sites is scheduled for December 15.

Georgetown is located 25 miles north of the Austin Central Business District. With a burgeoning population over 76,000 residents, representing a 57% increase from 2010, Georgetown has become one of the nation's top ten fastest-growing cities. Population in the surrounding area is expected to grow through affordable housing, low cost of living and proximity to major employers. Georgetown was recently named by Retirement Places Rated as the "Best Place in America to Retire". The area provides a dynamic and sustainable environment for both businesses and residents to thrive.

The properties are located near large retail amenities, including Round Rock Premium Outlets, Wolf Ranch Town Center and University Oaks Shopping Center. Situated along I-35 between Georgetown and Round Rock, these parcels are also in proximity to major attractions including Round Rock Sport's Center, Kalahari Resort and Dell Diamond. Also nearby is Sun City Texas, a 4,100± acre Del Webb active adult community that boasts over 14,000 residents. I-35 provides a traffic count of over 157,000 vehicles per day and is expected to increase due to the 2020 completion of the Inner Loop extension (Southwest Bypass). The development opportunities are also near North Austin's major employers including the Dell headquarters (13,000 employees), Amazon Distribution Center (11,000 employees), Baylor Scott & White Medical Center (800 employees), and Seton Medical Center Williamson (450 employees), as well as four universities, including Texas State University Round Rock, Texas A&M Health Science Center, Austin Community College and Southwestern University. These offerings represent a prime opportunity discerning developers to invest in one of the nation's fastest-growing, sought-after corridors.

Steve Madura, senior vice president at Hilco Real Estate, stated, "These available development parcels contribute to the continued high growth surge of Georgetown." He continued, "The near complete sellout of the Longhorn Junction development just north of Lookout Ridge to a number of retail, industrial and service-oriented developers, and the popularity of Sun City Texas immediately adjacent to the commercial tract along Williams Drive, will only serve to strengthen the desirability and demand for these current offerings, respectively."

The bid deadline is scheduled for Wednesday, December 15, 2021. Bids may be submitted via mail to the following address: Hilco Real Estate, 5 Revere Drive, Suite 410, Northbrook, IL 60062, or via email to jcuticelli@hilcoglobal.com. For more information regarding the bid process, please contact Jonathan Cuticelli at (203) 561-8737 or jcuticelli@hilcoglobal.com or Steve Madura at (847) 504-2478 or smadura@hilcoglobal.com.

For further information on the properties, an explanation of the bid process or to obtain access to property due diligence documents, please visit HilcoRealEstate.com or call (855) 755-2300.

About Hilco Real Estate
Hilco Real Estate ("HRE"), a Hilco Global company (HilcoGlobal.com), is headquartered in Northbrook, Illinois (USA). HRE is a national provider of strategic real estate disposition services. Acting as an agent or principal, HRE uses its experience to advise and execute strategies to assist clients in deriving the maximum value from their real estate assets. By leveraging multi-faceted sales strategies & techniques, aggressive repositioning and restructuring experience, a vast and motivated network of buyers and sellers, and substantial access to capital, HRE exceeds expectations even in the most complex transactions.

SOURCE Hilco Real Estate

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