Lee Combs, president of the Emerson Group, tells GlobeSt.com that Alamo Title Co. is taking 3,000 sf and Lone Star Dental, 2,250 sf. The first building, all office space, is 3,500 sf short of being 100% leased, he says. That space is coming back to Emerson for leasing. Emerson is holding off on starting the third building, 30,000 sf of office space."There's really a lot going on in Bee Cave," Combs says.

Bee Cave, about 12 miles west of Austin, has been something of a bright spot in the Austin area. It has continued to attract residential development, within its city limits and along Bee Cave Road as it winds into Austin. Already a Home Depot store operates in Bee Cave and it will be joined by a Target store.

The Preserve at 11420 Bee Cave Rd. is one of several developments of office and retail under way or in the planning stages in the small community. The pipeline contains projects like the Preserve and the retail-office development Village at Bee Cave to the proposed Hill Country Galleria, which is to include a mall, hotel, offices and residential units.