A private Southern California REIT purchased a 50k SF building in San Antonio that is triple-net leased to the City of San Antonio Pre-K Education Center. San Antonio will maintain its long-term lease, with options to extend.
The seller/developer was repped by InvestCore Commercial’s Ed Colson Jr. and Michael Campbell. The InvestCore team previously assisted the developer in selling another Pre-K facility in San Antonio in June 2015.
The City of San Antonio has made the expansion of Pre-K education one of its top priorities and programs. Backed by former Mayor Julian Castro, who now serves as the US Secretary of Housing and Urban Development, this program will provide four city-run Pre-K education centers—one in each of San Antonio’s quadrants. The program is funded through a $30M sales tax program.
