SAN ANTONIO—In a joint venture, Tryperion Partners and Goodstone LLC have acquired Network Tech Center, an 84,505-square-foot, three-building office park located in University Business Park in the city's northwest submarket.
“The commitments from the existing tenants and strong continued demand from new entrants to the submarket present a unique blend of stability and upside potential,” says Tryperion partner Eliot Bencuya. “We are confident that, through proactive ownership and leasing, we can increase occupancy and benefit from the continued growth we are seeing in the San Antonio market.”
Goodstone is an investment and management firm specializing in acquiring under-valued office buildings and creating value through active and comprehensive personal involvement.
“Having 20,000 square feet available--the property is 79 percent leased--in this specific location within University Park at this point in the cycle is very appealing,” Stephen Durr, president, Goodstone LLC, told GlobeSt.com. “It provides an immediate opportunity to increase value through stabilization.”
CBRE's Todd Mills represented the seller in the transaction. Lindsey Tucker and Carl Salvato, also with CBRE, have been awarded project-leasing services.
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