OFFERING SUMMARY


Asking Price $1,750,000

Physical Address: 2271 Park Bend DR. Austin, TX 78758

Zoning: Recently Rezoned to GO-MU-CO from MF-2-CO.
Flexible Mixed Usage

Legal Description: LOT 1 BLK A VILLAGE AT WALNUT CREEK PHS 2 SEC 15

Gross Land Area: +/- 5.83 Acres

Net Developable area: +/- 1.396 Acres

Utilities: Electric � Water/Waste Water- Gas available near and/or on site

PROPERTY DESCRIPTIONS:

Fabulous Property near the Austin Diagnostic Clinic. Great visibility for the Commercial Uses. The land is in the medical environmental setting and walking distance to medical facilities of the Park Bend Land, making the attractive location for development of condos, apartment, medical office condos or senior housing project.



LOCATION DESCRIPTIONS:

The proximity of this community to the Capital Metro Bus Line, projected rapid Transits stop and available retail on MoPac & Parmer makes this a highly desirable home to working class tenants. The property is minutes to Highway 183, which leads to Austin�s Bergstrom International Airport. Highway 183 also feeds to Interstate Highway 35, better known as the NAFTA
Highway, which runs north and south across the United States from Mexico to Canada.

Easy Access to Major Thoroughfares from the Golden Triangle, The immediate area is bounded by Interstate 35 to the East, Route 1 Mopac Expressway to the West, Highway 183 to the South and Parmer Lane to the North.

LOCATION SURROUNDINGS:

The land is in the medical environmental setting and walking distance to medical facilities of the Park Bend Land, making this an attractive location for development of condos, apartment, medical office condos or senior housing project. To the south of the property is the Arboretum area, anchored by a Simon Properties open-air mall, which attracts higher end retail including Restoration Hardware, Jos A Banks, Pottery Barn and Sharper Image.

On March 9, 2007, the Domain was opened. The Domain is a high density business, retail and residential center developed and operated by Simon Property Group in conjunction with local developer Endeavor Real Estate. The Domain sits on 57 acres and is located less than two miles South of Park Bend Land.

The first phase of the project consists of 700,000
square feet of restaurants, office space, upscale retail, apartments and a hotel. Many fine retailers, some of them new to Austin, have come to the Domain, including Neiman Marcus, Barney�s New York and Tiffany & Co.

The second phase of the project, Domain Crossing,
will open in the spring of 2008 and will add 350,000 square feet of retail, apartments and a theater.

General area employers include the Austin Diagnostic center, Austin Community College Campus, IBM, Balcones Research Center, and Oracle.


MARKET HIGHLIGHTS

Strong Technology Influence

� Austin ranks as the third most-wired city in
the nation, behind Seattle and San Francisco.

Launch a business or career

� Austin ranks third among 150 U.S. metro
areas as the best place to launch a business or
a career, according to Forbes in 2005.

In-migration driving population growth

� Net migration averaged 28,000 residents
since 1990 and is forecast to reach 18,000 per
year over the next few years.