The two buildings at University Park changed hands in the city’s largest office trade of 2020.
Clarion Partners has sold two Class A office properties totaling 165,007 square feet at University Park in northwestern San Antonio. University Health System (UHS) acquired the properties in the city’s largest office sale of the year. Stream Realty Partners and Transwestern brokered the transaction.
The seller acquired the properties in 2014, for $26.8 million, according to San Antonio Express-News. UHS will house part of its non-clinical employees at the location, which make up nearly 12 percent of the taxpayer-funded hospital operator’s staff in the city. Currently, roughly 1,000 administrative employees work in seven office buildings in the area, leased by UHS at an annual expense of $2.3 million.
Completed in 2001, University Park Tech Center III at 5959 Northwest Parkway encompasses 76,487 square feet on 7.5 acres, Yardi Matrix data shows. Located on a 9.4-acre site at 5800 Farinon Drive, University Park Tech Center IV offers 88,520 square feet and dates back to 1999.
University Park is a 4 million-square-foot office center, situated next to Interstate 10 and 13 miles northwest of Downtown. Current tenants include Ernst & Young, Becton Dickinson, SWBC and United HealthCare.
Stream’s Kevin Cosgrove and Scott Ferguson worked on behalf of the seller, while Transwestern’s Ken Adams and Chad Gunter represented the buyer. Earlier this year, Clarion acquired a fully leased, 155,425-square-foot logistics asset in Dallas, from a joint venture of Stream and LaSalle Investment Management.