AUSTIN, TX—A Super Walmart did not succeed at 8201 North FM 620 because of several factors. Craig Andrus, a retail broker and principal with AQUILA Commercial, believes the store closed because it was situated between other successful competitors and the setbacks required pursuant to the Hill Country Roadway Ordinance limited visibility.
On a brighter note, PacVentures Inc. recently announced that it has acquired the former Super Walmart property. While the property did not work out for a Walmart, PacVentures is confident that it will prove successful for other types of commercial users.
“The site did not make for a great retail location because of the competition and because of its lack of visibility,” said Andrus. “Office and other uses do not require such visibility. In fact, being in a tree-lined environment in close proximity to the Balcones Canyon Preserve will be seen as an advantage for office users, creating a very unique and desirable setting.”
The Balcones Canyonlands Preserve is comprised of more than 30,000 acres and is one of the nation's largest urban preserves.
“This property is unique in that it can accommodate 220,000 square feet immediately and up to 550,000 square feet upon complete build out–a rarity in that area,” says Austin's local partner for PacVentures, Joe Simmons. “Our marketing efforts will focus on attracting large creative office users that require significant parking as well as those that envision creating a corporate campus environment. We have also been approached by non-traditional special use tenants such as schools and sports complexes.”
The site totals approximately 39 acres and the former Super Walmart building is approximately 220,000 square feet.
“As the Austin metro area continues to grow and traffic woes increase, more companies are looking for office options in locations that are located near desirable neighborhoods with good schools,” says Ben Tolson, a principal with AQUILA. “We think our location provides a great option near the in-demand neighborhoods of Lakeway, Steiner Ranch, Riverplace and along the 620 corridor that will allow employees to work near where they live.”
Simmons describes the investment as a tremendous opportunity to create a new environment for users requiring a large amount of office or other commercial space. AQUILA Commercial will market the property.
Tolson tells GlobeSt.com: “We have already received a great deal of interest from office and more specialized users alike, which only brings us more confidence in the positioning of the project going forward.”
AUSTIN, TX—A Super Walmart did not succeed at 8201 North FM 620 because of several factors. Craig Andrus, a retail broker and principal with AQUILA Commercial, believes the store closed because it was situated between other successful competitors and the setbacks required pursuant to the Hill Country Roadway Ordinance limited visibility.
On a brighter note, PacVentures Inc. recently announced that it has acquired the former Super Walmart property. While the property did not work out for a Walmart, PacVentures is confident that it will prove successful for other types of commercial users.
“The site did not make for a great retail location because of the competition and because of its lack of visibility,” said Andrus. “Office and other uses do not require such visibility. In fact, being in a tree-lined environment in close proximity to the Balcones Canyon Preserve will be seen as an advantage for office users, creating a very unique and desirable setting.”
The Balcones Canyonlands Preserve is comprised of more than 30,000 acres and is one of the nation's largest urban preserves.
“This property is unique in that it can accommodate 220,000 square feet immediately and up to 550,000 square feet upon complete build out–a rarity in that area,” says Austin's local partner for PacVentures, Joe Simmons. “Our marketing efforts will focus on attracting large creative office users that require significant parking as well as those that envision creating a corporate campus environment. We have also been approached by non-traditional special use tenants such as schools and sports complexes.”
The site totals approximately 39 acres and the former Super Walmart building is approximately 220,000 square feet.
“As the Austin metro area continues to grow and traffic woes increase, more companies are looking for office options in locations that are located near desirable neighborhoods with good schools,” says Ben Tolson, a principal with AQUILA. “We think our location provides a great option near the in-demand neighborhoods of Lakeway, Steiner Ranch, Riverplace and along the 620 corridor that will allow employees to work near where they live.”
Simmons describes the investment as a tremendous opportunity to create a new environment for users requiring a large amount of office or other commercial space. AQUILA Commercial will market the property.
Tolson tells GlobeSt.com: “We have already received a great deal of interest from office and more specialized users alike, which only brings us more confidence in the positioning of the project going forward.”
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.