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Developer Buys 250 Acres Near Austin Airport

AUSTIN-John Lloyd acquires the acreage from a family trust and immediately sells 80 acres in a turn-around play. His buying strategy rests on Austin's rebound and the strength of the land's proximity to the airport.

By Tim Green | Updated on October 24, 2002

AUSTIN-An Austin developer is betting that development around the Austin-Bergstrom International Airport will pick up when the Austin economy turns around.

Developer John Lloyd has bought 250 acres, called Interport South, from a family trust and simultaneously sold an 80-acre tract of flood-plain property to an Austin executive for private use. Joyce Jane Weedman, a land specialist at NAI Commercial Industrial Properties Co., and Royce Lacey, an NAI CIP vice president, represented the family trust. As the initial purchase closed, Weedman did the turn-around sale to the executive.

Weedman tells GlobeSt.com that Lloyd has the odds in his favor. She says the property is among the few Austin sites that can accommodate large manufacturing facilities. It doesn’t have environmental concerns, the land is flat and easy to build on and has high-capacity utilities and redundant electrical power.

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