CBRE to Market 1-acre Redevelopment Site in Downtown Austin for Sale

CBRE has been retained to market and sell 7th + Red River, a 1-acre redevelopment opportunity in Downtown Austin. The site includes the former Salvation Army Downtown Center, located at 501 E. 8th St., a 1,500-sq.-ft. retail building at 718 Red River St., and a nearly half-acre surface parking lot at 700 Red River St.

CBRE’s Peter Jansen and Jennifer Joseph are marketing the property on behalf of the owner, The Salvation Army.

"The Salvation Army Austin is focused on providing effective and holistic programs to low-income families with children, through The Rathgeber Center for Families, The Austin Shelter for Women and Children, The Williamson County Service Center, and other new programs,” said Lewis R. Reckline, Salvation Army Area Commander Major. “We currently have 300 beds within two family shelters, which are at capacity nightly, and an extensive waiting list of more than 500 individuals. Notably, 93% of those sheltered are women and children, and we are committed to providing the wraparound services that families with children need to regain self-sufficiency. We are committed to thoughtfully reinvesting the proceeds from the sale of the downtown building in the local community.”

In total, the site encompasses half of the original City Block 88 with the potential to develop more than 230,000 sq. ft. of mixed-use development. Positioned in the heart of Downtown Austin, the site sits between East 7th Street, East 8th Street, Red River Street & Neches Street and offers a premier parcel for redevelopment.

“The 7th + Red River site represents a once in a generation opportunity to reinvest in our community and bring something amazing to Downtown Austin,” said Mr. Jansen, Southwest Regional Manager with CBRE’s Public Institutions and Education Solutions practice group. “We are thrilled to be representing The Salvation Army in this disposition.”