SAN ANTONIO – (Realty News Report) – Entrada Partners acquired Travis Park Plaza, a 151,736 SF Class A office building in downtown San Antonio.
Built in 1970, the seven-story, granite-clad building and adjacent six-story parking garage takes up nearly a full city block at 711 Navarro Street.
“San Antonio’s low costs of living and doing business has resulted in extremely strong job growth over the past five years,” said Entrada, according to co-founder and partner Joshua Bar-Yadin who heads the firm’s San Antonio office. “Vacancies in downtown are the lowest they have been since 2007 and continue to tighten driven by large corporate expansions and relocations. This was a rare opportunity to acquire one of the only office buildings in downtown San Antonio that can accommodate tenants with high employee counts.”
Todd Mills, Carrie Caesar and Hunter Mills of Cushman and Wakefield represented the seller, and De’On Collins of JLL arranged the financing for the buyer.
Travis Park Plaza was 82 percent leased at closing. Tenants include Conviva Care Solutions, Kairoi and Tetra Tech. Entrada hired Transwestern’s Larry Mendez and Brad Kaufman to lease the property. Entrada has 1.2-million-SF real estate portfolio in San Antonio.
March 12, 2020 Realty News Report Copyright 2020
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