Austin, TX, September 09, 2012 --(PR.com
)-- CASE Commercial Real Estate Partners (CASE) is pleased to announce the sale of 22.7 acres of land known as Section 2 of Stone Creek Ranch in Austin, Texas. Located just east of Interstate 35 on Slaughter Lane at Narrow Glen Parkway, the property is zoned for multi-family residential development with densities of up to 23 units per acre.
CASE’s Land Services Team of Bruce Endendyk, managing director and John Endendyk, senior director, marketed the asset on behalf of the seller, Branch Banking and Trust (BB&T Bank). BB&T Bank is a leading financial holding company that foreclosed on the property in 2010. The property was sold for an undisclosed amount to Taylor Land Investment Company.
“This site is a great location for much needed multi-family development in the Austin area,” says B. Endendyk. “We had several interested buyers, but Taylor stood out as the group with the experience and resources to get it done.”
Stone Creek Ranch, Section 2, is situated approximately seven miles south of Downtown Austin and just over seven miles from Austin/Bergstrom International Airport near the highly traveled area of Interstate 35 and Slaughter Lane. The property is bordered by Stone Creek Ranch Apartments and the Crossing at Onion Creek residential subdivision. Proximate to Southpark Meadows Shopping Center, the community is well-served by national retailers, restaurants and service providers as well as entertainment and recreational venues.
About CASE Commercial Real Estate Partners
Founded in 1986, CASE Commercial Real Estate Partners is an independent full service commercial real estate firm headquartered in Dallas, TX with offices in Fort Worth, Austin, Houston, and San Antonio. CASE provides tenant representation, global corporate services, property management and leasing, lease administration, construction and project management, investment sales, development advisory, and sustainable workplace, among other specialized client services. Globally, CASE is part of the TCN Worldwide organization of independent commercial real estate firms providing complete integrated real estate solutions locally and internationally. With approximately $20.7 billion in annual transactions and over 80 million square feet of space under management, the organization ranks as one of the largest service providers in the industry. For more information, visit www.casecre.com.