AUSTIN--Kennedy Wilson has announced that it represented the seller in the sale of an 18.3 acre parcel of land located at the corner of Old Farm to Market 2243 West and North Bagdad Road in Leander.

Ernest Brown, managing director of Kennedy Wilson's brokerage group in San Antonio, represented the seller, Firstmark Credit Union, in the transaction. The buyer was Bruce Nakfoor, a local real estate developer. Further details of the transaction were not disclosed.

“As the fourth fastest-growing city in Texas, Leander currently has more than two dozen developments, including homes, planned or under construction,” said Brown, who has recently been responsible for several land transactions throughout Texas, in a release.  “This parcel is ideally positioned and primed for development to help meet the evolving needs of the surrounding community.”

The buyer plans to utilize the entire property to develop a mixed-use complex comprising primarily of retail and multifamily developments. The property is surrounded by a residential community, adjacent to a CVS Pharmacy and in close proximity to national and regional tenants including H-E-B.

Leander is experiencing high growth rates, says Kennedy Wilson, due to its competitive home prices, an award-winning school district and quality of life.