Marcus & Millichap is pleased to present the opportunity to acquire the property located at 209 Tradesmen Drive in Hutto, Texas. The subject property consists of approximately 6,750 square feet of warehouse space and is situated on 0.75 acres of land. The single-tenant asset features metal construction, three grade-level doors, 400 square feet of office space, a mezzanine floor, and six parking spaces. With a building coverage ratio of 21 percent, the property has ample industrial outdoor storage space (IOS). For sale as vacant, the property is ideal for owner use or as a lease-up investment along with a value-add opportunity to pave the IOS space. Situated near the intersection between State Highway 130 (Pickle Parkway) and U.S. Route 79, the property has proximity to Interstate 35 for easy distribution.
The subject property is located within Georgetown, a midsize submarket containing 17.1 million square feet of industrial space. Following a record year of speculative developments in 2023, net deliveries slowed by 58.7 percent to 1.9 million square feet last year. Unlike most submarkets, demand held steady with net absorption slightly increasing to 2.1 million square feet. With demand outpacing supply, the vacancy rate fell 380 basis points from its record high to 18.9 percent by the end of 2024. However, comparable properties under 10,000 square feet had a vacancy rate of just 5.5 percent. The amount of availability across Georgetown put downward pressure on leasing rates as annual rent growth contracted for the first time since 2010 at -1.5 percent. In contrast, rent growth on comparable properties only slightly fell by -0.3 percent. While rents averaged $11.90 per square foot across Georgetown, comparable rents in the submarket averaged about $14.50 per square foot in 2024. Going into 2025, 2.1 million square feet were under construction in Georgetown, representing 12.3 percent of inventory (CoStar).
With a population of over 2.35 million residents, the population of Metro Austin has grown significantly in recent decades along with economic growth. Known as the home of South by Southwest, the Austin-Round Rock metro covers about 4,225 square miles and consists of five counties in central Texas: Travis, Williamson, Hays, Caldwell, and Bastrop. Austin’s population of 964,177 people makes Travis the most populous county in the metro. Employment gains in the tech sector have contributed significantly to the metro’s recent population and median household income growth. Tesla’s newly constructed Gigafactory is expected to generate at least 5,000 jobs, supporting future relocations and increased demand for housing. The government is a significant driver in the local economy as Austin is the state capital and home to an IRS regional processing center as well as military bases. Located within a border state, the metro benefits significantly from international trade agreements with Mexico.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2025 Marcus & Millichap. All rights reserved. (Activity ID: ZAF0490017)
