The Los Angeles-based Cannon Commercial acquired the holding at711 Navarro St. from Darren Casey Interests Inc., the owner since2003. Casey had Travis Park Plaza in a portfolio that it sold inJuly 2007 to Newport Beach, CA-based Chase Merritt, but pulled thatone building prior to the closing. According to Bexar CentralAppraisal District, Travis Park Plaza is assessed at $13.9million.

Kam Mateen, president of Cannon Commercial, says the 90%-leasedbuilding was well-maintained. The upside potential rests in thefact that the CBD is in a growth mode, which also appealed toCannon's acquisitions staff.

The real selling point, however, was the garage. "There are onlysix or seven structured parking garages in Downtown San Antonio.Covered parking is scarce," Mateen explains. He adds that thegarage is open to the public and an excellent source ofrevenue.