Berkadia’s Multifamily Investment Advisory Team is pleased to announce the exclusive listing of Cimarron Court, a proven value-add opportunity located in Corpus Christi’s preferred south side. Developed over two phases in 2004 and 2014, Cimarron Court is a Class A community that has received extensive renovations under the current ownership, further positioning the asset to capture area rental demand. The surrounding South Corpus Christi neighborhood has become a preferred residential enclave anchored by the recently opened Veterans Memorial High School, the first high school to be added to Corpus Christi ISD in over 45 years. The property is situated on a 7.7-acre, hard-corner site located at Cimarron Blvd and Lipes Blvd creating both visibility and accessibility. This 218-unit community offers seven distinctive one, two- and three-bedroom floor plans averaging 811 square feet that attract residents seeking proximity to the dynamic employment, education, retail, and entertainment drivers in the area.
Cimarron Court features walkable access to the newly opened Veterans Memorial High School which has become the preeminent high school on Corpus Christi’s south side. Opened in 2015, Veterans was the first high school in 45 years to be built in Corpus Christi, and encompasses 380,000 square feet, roughly twice the size of the district’s largest high school.
Additionally, Cimarron Court is poised to continue to benefit from the favorable locational attributes that inherently exist on the popular south side of the city. Residents enjoy quick access to several of the city’s key economic drivers including CHRISTUS Spohn Hospital – South, Corpus Christi Medical Center – Bay Area, Texas A&M University – Corpus Christi, NAS – Corpus Christi, and Corpus Christi Army Depot, among others. Furthermore, the Port of Corpus Christi, the Corpus Christi CBD and the Corpus Christi International Airport are all approximately 15 miles from the Property via accessible connections off South Padre Island Drive, the region’s main east to west thoroughfare.
Nueces, San Patricio, and Aransas Counties make up the Corpus Christi, TX Metropolitan Statistical Area (MSA), an area with a population exceeding 457,000 people. Residents in the metro area enjoy 113 miles of beach along the Gulf Coast, mild winters, and an average of 233 sunny days per year, well above the national average. Corpus Christi is a family friendly city with an exceptional quality of life and a cost of living that is 5% lower than the national average.
Corpus Christi’s economy has traditionally revolved around petroleum, energy production, and logistics. In recent years, industries in other sectors—education and health services, professional and business services, and leisure and hospitality—have buffered the local economy from volatility in the energy sector. More than 5,200 workers have been added to payrolls among these three employment sectors since 2013.
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