AUSTIN-About three acres in southwest Austin, west of the intersection of Texas 71 and US Highway 290 West in Oak Hill, have been purchased.

Buffalo Equities is the buyer in a deal negotiated by Lee Ellison of Austin-based Colliers Oxford Commercial. Neither a Buffalo representative nor Ellison returned telephone calls seeking more information. The asking price had been $575,000, about $5.75 per sf.

The property is zoned for general retail and sits in what could be a good spot. It is at the entrance to Austin Community College’s Pinnacle campus and just east of the Seton Southwest Hospital. The site has 1.6 acres for a pad with the rest designated a water quality easement.

The property is near the retail-laden 71-290 intersection known at the “Y” in Oak Hill. Two separate shopping centers, one anchored by an H-E-B grocery, the other by an Albertsons, offer a variety of shops and restaurants. The zoning for the property just purchased by Buffalo prohibits automotive uses and pawn shops.

Buffalo Equities has been active in the area. In November 2000, it had won a zoning change from the Austin City Council for property at US Highway 290 and FM 1836. The site had been changed to planned unit development district from single-family housing.

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