Citigroup's San Antonio Campus Heads Back to Market

It appears that Citigroup’s San Antonio office complex is heading back to market after a deal to offload the site fell through.

San Antonio-based law firm Carabin Shaw was set to take control of three of the buildings and 36.3 acres of 100 Citibank Drive. That deal is in the past, according to the San Antonio Business Journal, who was told by a Citibank spokesperson that the property is on the market again.

The first draft of the purchase and sale agreement was set in 2025 with an initial price of $16.5 million. The deal fell through after three revisions of the purchase agreement, according to the outlet. The property went up for sale three years ago in 2023, and the initial price was downgraded to $14 million.

The deal is also the subject of an ongoing lawsuit, filed by Chicago Title against Citigroup and Carabin Shaw. The lawsuit states that there are rival claims between the pair for $350,000 held in escrow on the property. Chicago Title filed the lawsuit in the 438th District Court of Bexar County.

Other than filing, Chicago Title, who provides real estate services including navigating escrow proceedings, does not appear to be affected by the lawsuit. The Citigroup spokesperson told the outlet that they welcome the court’s decision on the $350,000 still held up.

Previous lease planning documents filed in court reveal that Citigroup would be consolidating into the site’s second building on an adjacent 23.7-acre property and occupy around half of its 329,658 square feet. The total space at the site features a newly-renovated building, where Citigroup plans to move in, two office buildings and an interconnected three-building daycare facility, according to a LoopNet listing. CBRE’s Scott Herbold, John Taylor and Patrick Benoist are marketing the building for sale.

— Hunter Cooke