Texas-based real estate investment firm Subtle Asset Management has completed its purchase of San Marcos Place, a 73,882-square-foot commercial property at 900 Bugg Lane in its namesake town 30 miles south of Austin.
The company paid Partners Capital, the investment arm of Partners Real Estate, $9.68 million for the property at the intersection of state Hwy. 80 and IH-35, a high-traffic area that sees approximately 170,000 cars per day. Built in 1985 and renovated in 2017, the center has a mix of office and retail spaces. It was 82 percent leased at the time of sale to tenants such as the Social Security Administration and Poco Loco Supermercado.
Subtle Asset Management aims to enhance occupancy, increase foot traffic, improve tenant satisfaction, and strengthen community engagement at San Marcos Place and is marketing 13,283 square feet of available space to new tenants.
"As a local real estate investment firm, acquiring 900 Bugg Lane reaffirms our dedication to enhancing the San Marcos community," Subtle’s Norman Padilla said. "We are committed to investing in high-quality commercial properties that bring value to tenants and offer sustained growth potential within the thriving San Antonio-Austin metroplex."
Cathy Nabours and Kyle Shaffer of SRS Real Estate Partners represented Partners Capital which purchased the property in 2018, in the transaction. The buyer and sales price were not disclosed.
