Move-In Ready Suites Buck the Office Norm
This is a unique product type in San Antonio, as the office suites will be move-in ready, rather than being delivered as shell spaces, and include 23 suites ranging in size from 1,500 to 11,000 square feet.
SAN ANTONIO—Construction is underway on Inwood Village I, a two-story class-A office building at 2722 Bitters Rd. that will feature 23 pre-finished office suites ranging in size from 1,500 to 3,000 square feet and four larger suites ranging in size from 4,500 to 11,000 square feet. San Antonio commercial real estate developer Worth & Associates is developing, pre-leasing and managing the property.
Spaces are expected to be available in December 2018. Worth is offering an expedited lease process with shortened lease forms and incentives to the first few tenants ready to sign a lease.
“This is a unique product type in San Antonio, as the office suites will be move-in ready, rather than being delivered as shell spaces,” said Clint Worth, president of development and brokerage with Worth & Associates. “These offices will be ideal for the entrepreneur, CPA, attorney, wealth manager or anyone who may have started their business from home or spun off from an existing location and have outgrown their space, but don’t want to commit to the initial investment or long-term lease that goes along with building out an office space. Inwood Village will allow tenants the flexibility to grow within this project or Worth’s almost 3 million-square-foot portfolio.”
All suites will have 10-foot ceilings and be pre-wired with fiber access available through AT&T and Spectrum. The lobby, common areas and restrooms will all feature high-end finishes, and all tenants will have access to a fully equipped common break room, common conference room with audio-visual equipment, and an outdoor patio and deck.
“We saw there was a need for move-in-ready, pre-wired spaces with a common conference room and break room amenities that were not and are not available for smaller tenants,” Rob Gish from Worth & Associates tell GlobeSt.com. “Many smaller tenants cannot or do not want to wait for a first-generation space to be built out, as it can be costly and time consuming. Inwood Village’s move-in-ready suites will allow for tenants to take immediate occupancy.”
At full buildout, Inwood Village will be comprised of two class-A office buildings ranging in size from 71,000 to 76,000 square feet. The project will feature a variety of suite configurations that can accommodate multiple business needs, on-site property management, outdoor meeting and break areas, all in a campus setting with native trees and landscaping. Each building will be secured by cameras and equipped with a card access system.
“We will be able to offer shorter-term leases compared to traditional first-generation leases that require terms of five years and greater,” Gish continues. “Shorter lease terms benefit growing companies who need the flexibility to properly address future growth without being locked in to a long-term lease. And, as the landlord, Worth & Associates is a long-term holder that will be around to accommodate a tenant’s changing needs and potential growth.”
Inwood Village I is located at the intersection of Bitters Road and Loop 1604, and provides access to those major arteries, as well as to IH-10 and Highway 281. The site is also in close proximity to shops, restaurants, neighborhoods and other amenities.
“The surrounding neighborhood demographics indicated a need for class-A office product with smaller suites to accommodate the business demand in the area,” Shawn Gulley of Worth & Associates tells GlobeSt.com. “Inwood Village offers convenient access for small business owners in the immediate area to office close to their homes.”