Austin-based Momark Development LLC has tasked global real estate firm Avison Young with finding a buyer for a 132-acre parcel in Kyle that's envisioned as a corporate campus in the burgeoning innovation corridor between Austin and San Antonio.
The shovel-ready parcel — which is within the Plum Creek master-planned community and across from Kyle's Brick and Mortar District — is being marketed as "Innovation Park" and is near the corner of Kohl's Crossing and Farm to Market Road 1626.
The parcel is for sale and divisible, and Avison Young executives said they'll consider leases or build-to-suit projects for the right opportunity. But they ultimately would like to see a mixed-use, research-and-development or corporate campus at the site.
Damian McKinney, managing director and principal at Avison Young, said that Kyle, which is about 20 miles south of Austin and has seen its population swell to nearly 66,000, has the chance to be a hub in an emerging innovation corridor. In addition to capital investment in Austin and San Antonio, there are 90,000 college students between Texas State University in San Marcos and the University of Texas in Austin, in addition to students at smaller outposts like Austin Community College, which has a campus across the street from the Kyle site.
"We really see this as an opportunity for this corridor to be the next Orange County (California) between San Diego and L.A.," McKinney said. "It could be the next Silicon Valley between San Jose and San Francisco."
He described Kyle as appealing as well because it has a business-friendly climate while also being a good place to live and play. The city has been a magnet for big companies in recent years, including Tesla Inc. and its suppliers Simwon North America Corp., ABC Technologies Inc., ENF Technology Co. Ltd., Fat Quarter Shop LLC and Sovereign Flavors Inc.
"Those are the testimonials that we are already receiving from the companies that have moved here — that (Kyle is a) suburb of a major metropolitan hub, with all the benefits of that, but yet they have ease of collaboration with the local government, that it's very proactive in helping companies move here and it's a live, work, play (community) where the their employees can literally ride a bike to work if they want to," McKinney said.
Stakeholders have met with the city and regional economic groups such as Opportunity Austin to identify market sectors they're aiming to lure to the site. That includes life sciences, biotechnology, aerospace, automotive and education. What they don't want to see is a large warehouse or any companies that don't bring high-paying jobs.
"That's really our focus, as we can line up data centers all day long, which have high-paying jobs but very few jobs," he said. "So we're looking at something that will complement the community of Plum Creek and Kyle that the locals want to see, that really builds and feeds the housing here, and makes it a real community, makes it some place that people desire to come live, work and play. The city is doing their job and now Plum Creek is taking on the responsibility to be that good corporate citizen and build something that complements the community."
Other Avison Young executives involved in marketing are Sullivan Johnston, Mike Kennedy, Peter Sherman and Jamie Endres-Keller.