www.mysanantonio.com/business/stories/MYSA020608.02D.St -
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Published on: 2/5/2008
Last Visited: 2/6/2008
"When one office works, you build two more," said Allan Young, partner with Stream Realty's San Antonio office.
Stream Realty's first Shavano Park office building, the 100,000-square-foot 4500 Lockhill Selma building, was built on speculation and immediately was sold to American National Insurance Co.
Their current project also is being built entirely on speculation.
"We don't have anyone yet," Young said."We're targeting larger corporate office users."
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Tenants might include financial services, technology, insurance, oil and gas, or software companies, Young said.
The annual rent for the space will be $16 per square foot net, below the average San Antonio office rent of $19.82 per square foot per year as of the fourth quarter of 2007, according to NAI REOC Partners.
Young said Stream Realty came back to this same location because of the street appeal as well as the amenities nearby.
"If you drive Lockhill-Selma, it is a very nice, master-planned road that's heavily landscaped and manicured," Young said.
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Construction is scheduled to be complete in September, Young said.