Holliday Fenoglio Fowler, L.P. (HFF), acting by and through Holliday GP Corp., a Texas licensed real estate broker, on behalf of the owner, is marketing for sale The Triangle, a thriving 11-acre, mixed-use multi-family and retail development located in Austin, Texas. Situated just north of downtown at the confluence of two of Austin’s main north-south roadways, Lamar Boulevard and Guadalupe Street, The Triangle provides an irreplaceable central infill location with direct access to the city’s key business centers and main economic drivers.
Constructed in three phases and completed in 2009, the mixed-use property for sale comprises 529 luxury apartment units and approximately 111, 000 square feet of ground-floor retail space that features a healthy mix of well-known local and national retailers. The multi-housing units feature traditional or modern interiors with wood-style flooring, arched entryways, crown molding accents and private outdoor relaxation spaces. The gated community features a 24-hour fitness center, three swimming pools, an outdoor cabana and fire pit, gas grill areas and access to a city park complete with a jogging trail that winds around a pond. Additional amenities include a splash pad and playground, theater room, resident lounge with game room and billiard table, conference rooms, business center, direct access parking garage and a hot tub. The ground-floor retail is home to restaurant and retail tenants, including Galaxy Café, Mandola’s Italian Market, Snap Kitchen, Flying Sauce Draught Emporium, Austin Dental Works, CorePower Yoga, Office Max, Myo Massage Chase and Salon Intuitions.
- Irreplaceable Urban Infill Location: The mixed-use property for sale is at the confluence of Austin’s iconic and well-traveled Guadalupe and Lamar intersection, making it the most accessible mixed-use development in north central Austin. The area has superior connectivity in multiple directions via Lamar, Guadalupe and 45th Street.
- Live-Work-Play Ecosystem: The Triangle is joining the ranks of Austin’s prominent mixed-use developments – Domain, Mueller, Seaholm and Lamar Union – as a haven for young professionals, offering the live-work-play lifestyle Austin has come to embody and demand.
- Evolving Demographics: Austin’s emergence as a leading 18-hour city is attracting a new constituent of young affluent professionals who are migrating to Austin for its nationally-recognized brand/culture, prefer Austin’s business-friendly environment and/or will pay a premium to live within walkable, innovative mixed-use projects like The Triangle. The housing values in neighborhoods surrounding The Triangle range from $396, 000 to $821, 000, compared to the median housing value of $241, 000 for Austin.
The superior quality and tremendous locational attributes make The Triangle a best-in-class asset, presenting a unique opportunity to invest in an iconic mixed-use, live-work-play environment in one of the fastest-growing cities in the United States. In addition, tremendous value enhancement potential exists through mark-to-market, retail re-merchandising and interior apartment renovation opportunities. For more information on this or other commercial properties for sale in Austin, please contact HFF Senior Managing Directors Sean Sorrell or Jim Batjer or Director Kelsey Roop.