Press Release-- Sabot Development LTD Purchases Bank Building

Monday, April 14, 2014

Press Release-- Sabot Development LTD Purchases Bank Building

Press Release

LOCKHART, TEXAS, (4/14/14) — KW Commercial announced the sale of a 2,880 sf bank building, on a 4 acre tract of land at 1600 South Colorado (Hwy 183) in Lockhart, Texas. Jim Young, and Nick Nelson, of KW Commercial represented the Buyer, Sabot Development, LTD who purchased the property from the FDIC. The Seller, was represented by Jimbo Cotton, of McAllister & Associates. The building was a branch of a Texas bank shut down by the FDIC in late 2013. The building, has 4 drive thru lanes, the vault, safes, ATM and can immediately be re-opened by a bank. The site is immediately across from the new Caldwell County Judicial Center which will house the County Court, District Court, Official Public Records & more, as well as just north of Endeavor’s new Walmart retail center.

The property is currently available for lease and the flyer can be downloaded via this link: http://bit.ly/LockhartforLease

Sabot Development, LTD is a Austin based company owned by Army & Navy Veterans, and managed by Jim Young, a former Army officer & West Point graduate.

“Purchasing this site from the FDIC will allow our team to lease out the bank to another bank, credit union or tenant. We have had interest from several national credit tenants to build a new retail site on the additional acreage behind the bank thanks to our talks with the Lockhart Economic Development Council.” said Jim Young.