Investment Overview

Marcus & Millichap is pleased to offer for your consideration, a joint venture partnership opportunity for development of a 12-acre parcel in Leander, Texas (the “Property”). The Property is located on Hero Way just 2 blocks off of Ronald Reagan Boulevard. It consists of 2 parcels, a 4.6 acre tract with roughly 440’ of frontage on Hero Way and an adjacent 7.6 acre tract that fronts Winding Oak Dr. There is an 8” water line adjacent to the Property and a 12” water line less than 700 feet away. There is also an 18” wastewater line less than 250’ from the Property. The highest and best use for the parcel would be a mixed-use development consisting of some combination of commercial, retail and or residential (townhome or multifamily). Nearby demographics are exceptional with the 3-mile demographic boasting a population of almost 27,000 with an average household income of over $144,000. Additionally, there are over 750 rooftops adjacent to the Property. The Property Owner is interested in partnering with a developer to build out a project that would maximize value by developing for highest and best use and selling immediately after reaching stabilization of the developed project. The ideal JV structure would consist of Owner contributing the land and the Developer covering costs for development including but not limited to: debt service, commissions, property taxes, horizontal work and vertical work. Please contact Broker for discussion of other deal-related terms.