Krenger, who had represented the seller, says the sale-leaseback deal is a result of the strong market conditions in the Loop 410/281 corridor. "They're taking advantage of the market," he says of Homeside Lending's motivation to sell. The North Central submarket currently "is the strongest of the city's four" due to its proximity to the San Antonio International Airport, he says.
The new owner isn't planning any significant improvements to the plaza, built in 1982. "It's actually in pretty good shape." he tells GlobeSt.com.
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