GrayStreet Partners has sold Travis Park Plaza, a 151,736-square-foot Class A office property in downtown San Antonio, to Entrada Partners. Cushman & Wakefield assisted the seller, while JLL secured acquisition financing through Zions Bank for the new owner.
The deal included the neighboring six-level parking structure. The new owner plans to begin capital improvements, upgrading property aesthetics and amenities, utilizing funds from the lease-up of One Alamo Center, its 172,000-square-foot office asset half a mile away.
Located on 3 acres at 711 Navarro St., the seven-story Travis Park Plaza opened its doors in 1970 and was most recently renovated last year. At the time of the sale, the property was 82 percent leased to tenants including Kairoi Residential, Conviva Care Solutions and Tetra Tech. The asset is within 1 mile of interstates 10, 35 and 37.
Cushman & Wakefield’s Todd Mills, Carrie Caesar and Hunter Mills represented the seller, while JLL’s De’On Collins facilitated the acquisition loan. Larry Mendez and Brad Kaufman of Transwestern will continue to lease the property. The firm will also oversee management operations.
One year ago, Entrada acquired an industrial portfolio near the Interstate 410 loop in San Antonio. The four buildings total approximately 484,000 square feet.