SAN ANTONIO, TX - Griffin Partners, Inc. announces the purchase of The Zachry Building, a Class A, 82,428 square foot office building located in San Antonio, Texas. The project was purchased from Zachry Construction Company. The asset is located in the Far North Central area, on the southeast corner of Loop 1604 and Bitters Road.
The 3-story property has remained 100% leased/owned since it was developed in 2007. Situated along north San Antonio's outer loop, Hwy. 1604, equidistant between the two major north/south arteries, I-10 and Hwy. 281, The Zachry Building is easily accessible from anywhere in the city or the suburbs.
The Far North Central area has experienced massive population growth over the last 10 years, primarily due to the number of major firms who have relocated their regional headquarters to the area.
“Griffin Partners is excited about re-entering the San Antonio market, a testament to our belief in the long-term growth of the macro economy and specifically the North Central and Northwest submarkets,” said Andrew Montgomery, Executive Vice President and Head of Acquisitions at Griffin Partners. “This asset is uniquely positioned to capitalize on this continued growth in an exceptional location just off Hwy. 1604 and Bitters Road.”
About Griffin Partners
Griffin Partners, Inc. is an owner and operator of commercial real estate properties throughout Arizona, Colorado, North Carolina, and Texas with a current portfolio of 4.2 million square feet valued at over $600 million. Established in 1980, Griffin Partners has acquired, developed or managed over 13 million square feet of office, retail and light industrial property since its founding, valued at over $1.9 billion. The Zachry Building was purchased by Griffin Partners Fund III (“Fund III”), our 6th investment in San Antonio since 2005 and our 7th since Fund III’s inception in June 2016. Fund III owns 1.7 million square feet of office retail and industrial property in seven (7) assets totaling approximately $250 million in asset value in four different cities across three states.