Why Office Buyers Love San Antonio
San Antonios office market may be the wallflower at the CRE dance, but dont despair: This gal may have some suitors. The fully leased 102k SF Brookhollow Park was just snapped up and had a long line of investors hoping to get a twirl.
Transwestern Central Texas investment services group managing director Leah Gallagher (who repped the seller, Grosvenor International, with Alan Grilliette and Hale Umstattd) tells us within 42 days of listing the property at 911 Central Parkway North, there was an undisclosed buyer; itclosed 28 days later. Why the love? Buyers are getting priced out of Houston and Austin, Leah tells us. Its proximity to the Eagle Ford shale, the bilingual workforce, and pricing are especially appealing to private equity, institutional investors, and international buyers. Expect a larger volume of sales out of San Antonio in 13, she says.