Saturday , 1 October 2016
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Griffin/Clarion JV Buys Tower in Downtown San Antonio

Fred Griffin, Griffin Partners.

Fred Griffin, Griffin Partners.

SAN ANTONIO – A joint venture of Griffin Partners and Clarion Partners has purchased Bank of America Plaza, a 28-story, 533,465-square-foot office building in downtown San Antonio.

The tower, built in 1983, is the largest building in downtown San Antonio and the deal is reportedly the first $100 million transaction in the city.
The building, 300 Convent Street, is 91 percent leased.  The seller was Talcott Realty Investors of Hartford, Conn.
According to CBRE, there is 900,000 square feet of office space under construction in San Antonio, the most robust building pace since 2008. The new product is 40 percent pre-leased.
Griffin Partners, based in Houston is led by Fred Griffin. The firm has other properties in San Antonio and other holdings in Texas.  Clarion is based in New York.
Griffin Partners was formerly known as  Griffin/Juban Cos. Fred Griffin began his career with Friendswood Development  and he was involved in  in the purchase, planning, and development of Kingwood, Woodlake, Greenspoint, Copperfield, and Clear Lake City.  The company’s holdings include 1301 Fannin, an 800,000-square-foot project in downtown Houston.

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