SAN ANTONIO-The first phase of San Antonio’s University Heights Business Park is now 50% leased as a result of the latest round of contracts that have been finalized by Transwestern Commercial Services, the Chicago-based developer and leasing agent.

Transwestern has signed five contracts totaling 32,350 sf in the new complex, located on 6.06 acres along DeZavala Road, about one-quarter mile from Interstate 10 in Northwest San Antonio. The first of three phases includes two, single-story buildings that opened for occupancy in August. The two buildings contain 68,400 sf of flex space designated for office and research and development.

Construction of phases II and III has not yet been scheduled, a Transwestern source tells The development is designed to ultimately include six buildings, which, in their entirety, would add 200,000 sf to San Antonio’s market.

Transwestern would not divulge the per sf rental, but it is advertising the space as being aggressively priced. Location is the other selling point Transwestern hopes to emphasize with the property’s proximity to major employers such as USAA, Ultramar Diamond Shamrock and the South Texas Medical Center.

The General Services Administration is taking 20,950 sf in the building. Other lessees are Missing Link Inc., 2,992 sf; Color Me Paint & Decorating and Campos Family Dental, 2,850 sf each; and AudioVisions, 2,708 sf. Austin-based House, Reh, Burwell Architects has completed the project’s design. The general contractor is Kopplow Construction.

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