Colliers is pleased to announce the sale of the Palestra Building, a 15,300 square foot office building located at 1779 NE Loop 410 in San Antonio, Texas. The buyer was represented by Clint Hennessey of DH Realty Partners, Inc. Jenny Seckinger and Ace Schlameus of Colliers represented the seller in the transaction.
“1779 NE Loop 410 was completely renovated and offered an owner-user high visibility in a boutique market. This is a perfect match for both the buyer and seller,” said Jenny Seckinger of Colliers.
The office building, built in 1981, features high-quality construction with numerous renovations completed within the past 5 years. The property is situated on 0.70 acres off of Connally Loop (Loop 410) and is just minutes from San Antonio International Airport. It is currently occupied as a call center with individual offices, conference rooms and a gym.
The property is located in San Antonio’s Northeast office submarket. The submarket contains 7.4 million square feet of office inventory which is currently 91.1% occupied. The average asking rental rate is $26.45 per square foot.
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Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.