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9/07/21
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Juliet Five LLC purchased a 32-acre land parcel located at 1635 E Hwy 290 in Dripping Springs, TX, 20 minutes west of downtown Austin. The buyer intends to use the property to develop a mixed-use project incorporating retail, commercial and multifamily uses. Details of the development are still in planning stages.
John T. Baird, Michael Kennedy and Sullivan Johnson with Avison Young represented the Dripping Springs-based seller, RRWS Inc.
The seller believed that this was an opportune time in the market to transact the property, as the Austin metropolitan area continues to experience growth in population and employment. Corporations including Apple, Tesla, Oracle and Samsung are attracted to Austin’s unique cultural, entertainment and outdoor lifestyle offerings. As this growth continues, adjacent communities like Dripping Springs are seeing increased demand for housing and retail services.
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