A two-building complex on San Antonio’s Far West Side is set to test investors’ appetite for office assets in the Alamo City.
Local firm SageView Partners has put the 198,000-square-foot property at 10000 Rogers Run up for sale, the San Antonio Business Journal reported. JLL’s Lisa Mittel and Meredith Howard are marketing the complex.
Although an asking price has not been disclosed, the property is valued at $15.5 million by the Bexar Appraisal District.
Department store chain Kohl’s has an 83,000-square-foot operations and customer service center in the building. Kohl’s previously owned the buildings before selling them to SageView in 2022.
Online listings show immediate vacancies and space coming available in June, the outlet said.
JLL is playing up the offering as a “plug-and-play” opportunity that could serve as a company’s headquarters or regional office, the outlet reported. There are also a growing number of data centers in the vicinity, potentially upping the property’s future value.
SageView, meanwhile, acquired the 12-story McAllister Plaza, near the San Antonio airport, in December, according to the firm’s website. That 192,000-square-foot office building was on the brink of foreclosure in August, when the previous owner, San Francisco-based RBL Real Estate, revealed that it had no plans to pay off its $15.3 million debt balance on the property. It’s unclear if SageView bought the building from the lender out of foreclosure or directly from RBL.
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SageView’s San Antonio portfolio also includes the 140,000-square-foot Colonnade Centre, at 9830 Colonnade Boulevard, and the 114,000-square-foot lowrise office building at 654 Richland Hills Drive.
—Quinn Donoghue