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Marketplace Listing - Office

Class A Office Investment Opportunity

9903 Nationwide Drive, San Antonio, TX 78251

Unlisted

Asking Price:
  • Asset Type
  • Real Estate
  • Property Type
  • Office
  • Office Type
  • Suburban Office
  • Property Size
  • 270,000 Sq Ft

Class A Office Opportunity

CBRE Capital Markets has been retained to act as the exclusive advisor for the sale of a Class A, suburban office asset which includes a potential expansion opportunity located in San Antonio, Texas. The property is currently owned and occupied by Nationwide Insurance Company.

I N V E S T M E N T   H I G H L I G H T S

Rare, Large-User Opportunity / Freeway Identity: This offering provides an investor with the opportunity to acquire a class A, campus-style office development, currently home to Nationwide Insurance’s San Antonio operations. Nationwide has indicated they plan to vacate although they will consider leasing back approximately 20% of the premises on either a long or short term basis depending upon the investor’s business plan. The property consists of two inter-connected buildings with over 270,000 square feet on over 30 acres of land. Built in 2012 with Nationwide as the only tenant to have occupied the space, the property is in pristine condition. The offering will be highly attractive to corporate users looking for freeway identity and above market levels of parking (approximately 5.6 surface spaces per 1,000 sf) to accommodate a variety of users.

High-Quality Asset & Improvements: The property is a top-of-class asset that has been institutionally developed, owned and operated. The improvements are truly Class “A” as desired by leading tenants in the market and it was designed to meet the highest standards including IBHS Fortified. The building features quality interior finishes and distinct architectural elevations that connect two, 3-story midrise buildings. Tenants can also enjoy on-site amenities including landscaped courtyards, a top-of-the-line gym, and an updated on-site cafeteria.

Central Location & Extensive Amenities: The property is strategically located just east of Texas State Highway 151 (82,000 VPD) and four miles from Interstate 410, which serves as the perimeter highway looping the greater San Antonio metropolitan area. The San Antonio International Airport is just 16 miles away, and downtown is only a 17-mile drive. Additionally, the property is located within the Westover Hills master-planned mixed-use community - San Antonio’s third largest employment center hosting over 20 corporate campuses such as JP Morgan Chase, Wells Fargo, and Aetna. Amenities in the immediate area include a wide selection of restaurant and hotel options, as well as shopping malls, grocery stores, healthcare, and more.

Value Add Opportunity / Expansion Potential: The property provides the next owner with the opportunity to add an additional 90,000 - 120,000 sf office building with an associated structured parking to serve a large user’s potential expansion requirements and to meet the rapidly growing market. The subject also includes excess land to add additional surface parking to increase the parking ratio to 6.1 spaces per 1,000 sf to accommodate higher density users.

Strong Market Fundamentals / Top Performing Submarket: San Antonio office market has been largely immune to weakened tenant demand, which has kept occupancy levels more stable than comparable markets. Since 2012 and prior to the onset of COVID, the greater San Antonio office market has witnessed consistently positive net absorption with average lease rates increasing by an average of 2.0% annually for Class A properties. The property is located in the top performing San Antonio office submarket, with a current vacancy rate of 9.7% and is forecasted to stabilize at 5% by Q2 2022.

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Click Here to Review and Electronically Execute the Confidentiality Agreement
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Download Offering Memorandum

Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

Unlisted

Asking Price:

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