SAN ANTONIO-Construction crews are readying a 200,000-sf former manufacturing site for a January 2001 occupancy by Southwestern Bell Communications, which recently signed a long-term lease for the entire property in the city’s northwest submarket. The deal pushes SBC over the 850,000-sf leasing mark for sites just since last year, a real estate source told GlobeSt.com.

Paul Fagan, partner in Cross & Co. of San Antonio, says the property will be an adjunct to SBC’s Downtown headquarters. A $9-million to $11-million retrofitting is being carried out in preparation for the January move-in.

The 12.6-acre site is owned by Lazarus Property Co. of Dallas, which bought the former Datapoint Corp. headquarters in January 1999. Fagan says several prospective lessees had been looking at the site, some close to inking a deal, when SBC “got serious” about taking the entire building. “We were at the altar three or four times,” he tells GlobeSt.com. SBC had closed the lease in 90 days, says Fagan who is continuing to search for a buyer for the property.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.