SAN ANTONIO – CBRE Capital Markets’ Institutional Properties announces the sale of 3302 North Ellison Drive, a recently constructed, 100,260-sq.-ft., Class A office asset in San Antonio, Texas.
Radler Enterprises purchased the asset from SRP Office Holdings I, LLC for an undisclosed price. CBRE’s Gary Carr and John Alvarado, and Cushman & Wakefield’s Todd Mills and Hunter Mills arranged the transaction on behalf of the seller.
“This is a very unique investment that offered significant credit and new construction quality in the dynamic and highly sought-after San Antonio office market,” said Mr. Alvarado, Senior Vice President at CBRE. “We are pleased to have worked with the buyer and seller in a highly collaborative transaction that validated our ability to bridge capital across the State of Texas.”
The property was completed in 2017 and has an on-site parking ratio well above market standards. It is fully leased through April 2027 to a single tenant. On-site amenities include a full-service cafeteria, outdoor patio with cooking stations, multiple conference rooms, fitness center, wellness clinic and a wooded walking/running trail.
Located in San Antonio’s Northwest market, the property is easily accessible to the Raymond E. Stotzer Freeway. The property’s location in the highly desirable master-planned community of Western Hills offers immediacy to the surrounding Fortune 500 companies as well as the area’s premier shopping, residential and entertainment destinations.