Deal Tracker: Recent Sales and Leases Dot the Map

The Bee Cave Road property includes a detached banking facility with a drive-through.

AUSTIN, TX—A 24,130-square-foot office building is situated near a high-traffic intersection at 3811 Bee Cave Rd. at Westbank Drive in the southwest Austin office submarket. The West Lake Hills property was in an off-market listing that was purchased by Main Street Investment Company of Dallas. The two story building is currently 85% leased by a mix of tenants. Helen Jobes and Randy Beaman of Capella Commercial LLC represented the undisclosed seller. Jobes tells GlobeSt.com: “The building is a one-of-a-kind office building nestled in the trees in the heart of West Lake Hills, a class-A location. The property includes a detached banking facility with a drive-through, a very valuable amenity as the City of West Lake Hills has instituted a bank drive-through moratorium.” Also in Austin, there are new leases for Pluckers Wing Bar and Austin Film Society at The Linc , a 180,000-square-foot retail center, according to CBRE and Misuma Holdings . The Linc is in the midst of a multimillion-dollar renovation to enhance areas for outdoor dining and entertainment, improve pedestrian accessibility and emphasize environmentally friendly landscaping. In El Paso, TX, affiliates of Dallas-based Covington Group Inc. have acquired the 548,629-square-foot Butterfield Trail portfolio. Covington Group is already underway with a multimillion-dollar capital improvement project for the six-building industrial portfolio. The portfolio, made up of warehouse and flex buildings, was 69% occupied at the time of purchase. The most significant capital improvements are underway at 19 Leigh Fisher , where there is a 120,000-square-foot vacancy. These capital improvements include a white box inside the warehouse area, new exterior and interior lighting, exterior paint and landscaping, as well as removal of a former tenant’s manufacturing infrastructure and overall deferred maintenance to the property. Covington expects to complete improvements to the entire portfolio by this summer. Affiliates of Covington Group acquired the portfolio from Butterfield Trail Trust 1 earlier this year for an undisclosed price. Covington Group has hired Christian Perez Giese and Chad McCleskey with CBRE ‘s El Paso office as the portfolio’s leasing agents. Also in El Paso, MAHLE Behr Troy Inc. , a leading global development partner for the automotive and engine industry, has signed a long-term 153,000-square-foot lease at 41 Butterfield Trail, according to CBRE. The new location will be used to support MAHLE’s distribution of automotive components manufactured in Ciudad Juárez, Mexico. In San Antonio, TX, Vantage at Shavano Park , a 288-unit multifamily asset, has sold for an undisclosed price. The community is located on 16.4 acres at 17203 Northwest Hwy. just off Loop 1604 and near The Rim, a 3-million-square-foot outdoor retail center. The corporate headquarters of USAA, Valero and NuStar Energy are within a short drive and the University of Texas at San Antonio, Medtronic Inc. and the South Texas Medical Center are also nearby. Built in 2014, Vantage at Shavano Park has a clubhouse, business center, fitness center, three dog parks, and a swimming pool with a sundeck, cabana and waterfall. Apartments feature 9-foot ceilings, black-on-black appliances, dark oak wood cabinetry, and washers and dryers.