6201 Ed Bluestein Boulevard
- 6201 Ed Bluestein Boulevard, Austin, TX 78724
- Property Type:
- Submit Offer
- Square Feet:
- 465,831 sqft
- Lot Size:
- 10.694 acres
- 10.694-Acre Land Site Zoned LI-NP Located Just Five Miles East of Downtown Austin
- Frontage and High Visibility Along Highway 183 Near Loyola Lane with High Traffic Volume
- Industrial/Office Development Opportunity in Rapidly Growing East Austin
- Easy Access and Close Proximity to All Major Austin Thoroughfares
- Approximately Eight Miles from Tesla Giga Factory and Austin-Bergstrom International Airport
- 224,928 Total Population Within Five Miles with an Average Household Income of $77,386
Marcus & Millichap is pleased to present the opportunity to acquire the land located at 6201 Ed Bluestein Boulevard in Austin, Texas. The subject land consists of approximately 10.694 acres and is zoned for limited industrial services (LI-NP). Situated just five miles east of downtown Austin, the property has proximate access to all major thoroughfares. The land features high visibility frontage along the corner of Highway 183 and Loyola Lane. Located in the rapidly growing East Austin submarket, the property offers a sound opportunity to develop both industrial and office assets. Tesla’s new Giga factory and the Austin-Bergstrom International Airport are both located approximately eight miles from the land. Based on U.S. Census data, 224,928 people reside within a five-mile radius of the property, with the average household annual income at $77,386.
The East Austin submarket has gained notoriety with the recent completion of Tesla’s 4.5 million-square-foot Gigafactory in February of 2022. The delivery alone increased local inventory by nearly 61 percent to just under 12 million square feet. Another 200,000 square feet of industrial space is currently underway. In 2021, net absorption amounted to about 131,000 square feet, which was 61 percent higher than the 10-year annual average. Historically high demand has pushed the vacancy rate down from 6.9 percent in Q1 2021 to 2.1 percent halfway through Q1 2022. As a result, market rents are up 7.9 percent year-over-year, the second-highest quarterly rate on record. Market rents now stand at $13.55-per-square-foot, offering a 6.8 percent premium over the market average (CoStar).
With a population of over 2.2 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 940,700 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. Since it is located within a border state, the metro benefits significantly from international trade agreements with Mexico.