The details
Tampa-based Franklin Street, a commercial real estate services firm, sold the vacant property to Cedar Creek EAT 1031 behalf of 6682 FM 535 Associates—a sale that was announced Dec. 2.
The location neighbors a Lower Colorado River Authority substation and a $1.4 million data center campus in Cedar Creek.
“The opportunity to collaborate with our clients over the past several years has led to an outcome that is transformative for Central Texas,” said Marshall Durrett, Franklin Street managing director. “We were able to meet our clients’ goals and find a buyer that has a vision for the land in accordance with the growth and direction of the area.”
Zooming in
Access to water and wastewater services are already secured for the property.
Of note
Durrett noted that firms are taking longer to close deals in response to the entitlements process and market conditions.
“However, sellers are beginning to price properties more in line with market expectations providing ample opportunity within Central Texas for buyers and we expect an uptick in activity in 2026,” he said.
What else?
The property—located on FM 535—was previously planned to be a 634-lot subdivision, according to Franklin Street officials.
