Austin is witnessing an exciting development in its real estate landscape. Riverside Resources, a local real estate giant, has added a new feather to its cap – a retail property in the vibrant neighborhood of Clarksville. This expansion further bolsters Riverside’s investment in the bustling West Sixth Street area.
Spanning a generous 51,392 square feet, the property includes a parking lot and is strategically located—it is within comfortable walking distance to Sixth & Blanco. This proximity is crucial as Riverside has laid ambitious plans for this area, with a blueprint that envisions transforming a section of West Sixth Street into a five-story, mixed-use building.
The two properties located at 1214 and 1312 W Sixth St., collectively covering 1.7 acres, were recently evaluated and hold a combined appraisal value of a whopping $16.1 million. The sale was facilitated by CBRE, representing a joint venture between Stonelake Capital Partners and Schlosser Development.
This important acquisition by Riverside could signal a broader interest and investment trend in the West Sixth Street area, alluding to potential opportunities for both commercial and residential real estate professionals and stakeholders. For the original story, follow the link [here](https://www.recenter.tamu.edu/news/newstalk-texas/?Item=30134).