AUSTIN – Here is a round-up listing of recent deals and announcements in the Austin real estate market since last Wednesday:
A private Texas-based partnership looking for a stable asset in a good location bought the ground lease of a McDonald’s restaurant at 12514 State Highway 71 in Bee Cave. The McDonald’s is located near the Hill Country Galleria, a 152-acre mixed-use development composed of restaurants, shops, office and residential space. Jason Middlebrook vice president of investment sales for SRS Real Estate Partners represented the buyer in the transaction.
Taylor Land Investment Co. based in Frisco purchased 22.7 acres of land known as Section 2 of Stone Creek Ranch. Located just east of I-35 on Slaughter Lane at Narrow Glen Parkway, the property is zoned for multifamily residential development with densities of up to 23 units per acre. Texas Case Commercial Real Estate Partners’ Land Services Team of Bruce Endendyk, managing director, and John Endendyk, senior director, represented the seller, Branch Banking and Trust Corp., based in Winston-Salem, N.C. Branch Banking & Trust foreclosed on the property in 2010.
“This site is a great location for much needed multifamily development in the Austin area,” Bruce Endendyk said. “We had several interested buyers, but Taylor stood out as the group with the experience and resources to get it done.”
Tarantino Properties Inc. arranged the sale of the 58,300-square-foot Expressway Plaza shopping center, 1500 Lowes Blvd. in Killeen. The property was 100 percent leased at the time of sale. Nick Tarantino of Tarantino Properties Inc.’s Austin office represented the seller…
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