Walkability is Key in Yet-Another Office Portfolio
The San Antonio market has set records in delivery of speculative new office construction and absorption, with continuing positive momentum expected in 2018, including leasing of the upgraded space in GrayStreet’s portfolio.
SAN ANTONIO—In addition to thoroughly upgraded space, the offices in GrayStreet’s portfolio have been credited for providing tenants walkability and accessibility that have become key to attracting and retaining talent. Leasing is underway for the office portfolio comprising 733,692 square feet in nine buildings.
The largest portion of the portfolio is Travis Park Plaza at 149,000 square feet, followed closely by the Light Building at 140,440 square feet and 1603 Broadway St. at 140,000 square feet. Space at the Offices on Houston Street include The Kress & Grant at 127,066 square feet, The Court at 62,604 square feet, The Vogue at 37,105 square feet, 500 Navarro St. at 34,780 square feet and The Schaum at 25,271 square feet. 2520 Broadway St. is the smallest space at 17,426 square feet.
“Over the last 10 years, San Antonio has consistently shown strong fundamentals in the office market. Recently, the market has set records in delivery of speculative new office construction and absorption, and we are continuing to see that same positive momentum in 2018,” Larry Mendez, Transwestern executive managing director, tells GlobeSt.com. “The next two years will bring record rental rates and projects that will set the table for the next decade. Thanks to a strong labor market and visionary developers like GrayStreet Partners, the San Antonio office market will continue to evolve and mature.”
Transwestern has been retained by GrayStreet Partners to provide leasing services for the nine-building portfolio. The office leasing team includes Mendez and Brad Kaufman, senior associate.
“GrayStreet is one of the city’s largest and strongest landlords, and continues to positively impact the CBD,” said Mendez. “The GrayStreet portfolio offers an amenity base second to none in downtown San Antonio.”
Kaufman concurs, saying the portfolio features a wide range of office options available, given GrayStreet’s extensive renovations throughout the buildings.