SAN ANTONIO – Entrada Partners has acquired Travis Park Plaza, a 151,736-square-foot Class A office building located in downtown San Antonio.
Constructed in 1970, the seven-story, granite-clad building and its attached six-story parking garage occupy nearly a full city block at 711 Navarro Street.
“San Antonio’s low cost of living and favorable business environment have driven strong job growth over the past five years,” said Joshua Bar-Yadin, co-founder and partner at Entrada who leads the firm’s San Antonio office. “Downtown vacancies are the lowest they’ve been since 2007 and continue to tighten, fueled by major corporate expansions and relocations. This presented a rare chance to acquire one of the few downtown office buildings capable of accommodating tenants with large employee counts.”
The seller was represented by Todd Mills, Carrie Caesar and Hunter Mills of Cushman & Wakefield. De’On Collins of JLL arranged financing for the buyer.
At closing, Travis Park Plaza was 82 percent leased. Tenants include Conviva Care Solutions, Kairoi and Tetra Tech. Entrada retained Transwestern brokers Larry Mendez and Brad Kaufman to handle leasing for the property. The acquisition adds to Entrada’s San Antonio portfolio, which totals approximately 1.2 million square feet.
March 12, 2020 Realty News Report. Copyright 2020.
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