San Antonio Renews, Expands Cypress Space

SAN ANTONIO-The City of San Antonio has renewed a lease in the Cypress Tower building in the CBD and then turned around to double its office accommodations.

San Antonio has signed for 12,648 sf, of which 6,791 sf is the renewal lease. The city’s water system is an anchor tenant at Cypress with 59,728 sf. The University of Texas at San Antonio is another big tenant with 21,000 sf for its administrative offices. Cypress Tower is a 155,023-sf building at 1222 N. Main.

The renewal was for the Children’s Resources and Community Centers Division of the city’s Department of Community Initiatives. The lease runs through May 2006 with base rent starting at $14 sf and rising to $16 per sf in the last year of the lease.

Elize Pruske and Krista Upham, both of Transwestern Commercial Services’ San Antonio office, have represented the building owner, WKB Value Partners LP. Transwestern became the leasing agent for Cypress last year.