February 04, 2013
Transwestern’s San Antonio today office announced it brokered the sale of Brookhollow Park, located at 911 Central Parkway North, on behalf of Grosvenor International. Brookhollow Park is a 102,466-square-foot, Class A, multi-tenant office building located in the North Central submarket of San Antonio. The four-story property was 100 percent leased at the time of sale.
“Investors recognize the value in stable Class A office investments,” said Alan Grilliette, managing director. “There has been very little of this quality office product trade in San Antonio. Investors are continuing to chase yield, and we are seeing more buyers searching for higher quality assets.”
Brookhollow Park offered investors the opportunity to acquire an asset with solid, stable cash-flow providing above-average returns. Built in 1999, Brookhollow has a low-risk profile due to its established investment-grade credit tenant base, superior accessibility and a location in an up-and-coming submarket with vacancy rates that historically trend below the San Antonio city-wide average.
Grilliette, Hale Umstattd and Leah Gallagher of Transwestern represented the seller in the transaction. Within 42 days of listing the property, Brookhollow Park was awarded to the buyer and closed 28 days later.
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, development, research and sustainability. The fully integrated enterprise leverages operating competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. Transwestern facilitates better decision-making for clients by combining penetrating local market intelligence and macro-market research through its affiliate, Delta Associates. Transwestern has 33 U.S. offices and assists clients through more than 180 offices in 36 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit www.transwestern.net and follow us on Twitter: @Transwestern. Follow Transwestern’s San Antonio office on Twitter: @TranswesternSAT.