Circuit of the Americas Development Updates

[We vs us]

Since we don't really have a Southeast Austin thread, dropping this little nug here:

Today’s breaking news is the sale last week of a 278-acre tract near State Highways 71 and 130 to Zoho Corp., the India-based software company that appears gung-ho on Austin.

In early November I wrote about Zoho leasing 27,000 square feet of office space at Bergstrom Tech Center, 6800 Burleson Road. About that same time, the Austin American-Statesman published a story about the robust southeast Austin submarket and mentioned the Zoho deal as a 100-acre purchase.

But the deed filed at the Travis County Clerk’s office Jan. 9 shows the acquisition was nearly three times as large. The seller was Carr Family Partnership Ltd., which has owned the land since the 1994. For the prior decade, it was held in the name of Robert C. Carr.

The land was valued at just $678,961 for 2018 tax purposes, but the Travis Central Appraisal District shows the market value of the property at more than $3.6 million.

Located on the south side of Highway 71 east of the 130 toll road, the long rectangular tract is just west of NLand Surf Park, which also recently changed hands.

Zoho’s U.S. headquarters is currently in Pleasanton, Calif. A handful of brokers say Zoho may be planning to move its U.S. headquarters to Austin.

https://atxrealestatenews.com/2019/01/14/atx-real-estate-newsletter-for-1-14-19