Enter the "Deal room" for exclusive documents related to this property.
|Last Updated Date||26 Jun 2020|
JLL is pleased to exclusively present the extremely rare opportunity to acquire the fee position in 507 Pressler, located at the epicenter of Austin CBD at the intersection of W 5th Street and Pressler Street. The 1.89 acres land is currently improved by a high-end, mixed-use development that is comprised of a Class-A multifamily community (the Pressler, featuring 168-units and amenities including a rooftop sundeck and one of the largest pools in Downtown Austin), as well as best-in-class retail, including Love Cycle and Avanti Salon.
The irreplaceable real estate is in one of the most sought-after sub-markets in Austin. Located less than 1-mile from Town Lake, the property is in close proximity to all major thoroughfares (Interstate-35, Mopac and Lamar Blvd.) as well as the Texas Capitol and the University of Texas. Austin is one of the nation’s top economic performers with one of the highest job creation rates in the country and the lowest unemployment rate.
- Long-term, absolute net lease structure
- Remaining 86 years (expires March 2106)
- Current annual rent of $673,894 with future rent bumps
- Rare opportunity for infill Austin location
- Fastest-growing market in the U.S.
- Stable, increasing cash flow stream