Prime land near Austin racetrack now on the market

Oct 15, 2013
Austin Business Journal

The Texas General Land Office is selling nearly 651 acres of land in far Southeast Austin. The decision to list the raw land may coincide with the upcoming Formula 1 Grand Prix race at the Circuit of the Americas racetrack in mid-November. The race draws wealthy fans from all over the world, some of who might be in the market for an Austin investment


The value of the land also may be on the uptick now that Travis County has decided to make Kellem Road a main arterial leading to the track from Texas Highway 71


During the inaugural year of the race, numerous investors and brokers were talking about potential developments near the track, which largely is rural land. Though many brokers felt the race generated widespread interest in both commercial and residential real estate, it’s still unknown what the real impacts have been


The COTA facility seems to have proven its viability as it’s been used regularly for concerts, events and private parties, Now, it will also play host to ESPN's X Games


As for the land, which has just been listed, the northern boundary is Pearce Lane, The property is tranversed by Kellem Road. It’s about two miles to Austin-Bergstrom International Airport


Josh Cameron, Carter Breed and Eric DeJernett of CBRE Group Inc. are the listing brokers. No price has been established


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