The project is an Air Force pilot program in which the 1,300-acre base is being deeded to the city of San Antonio. The city will lease facilities to the Air Force and work to develop about 1,000 acres into the Brooks Technology and Business Park. The property includes 2.2 million sf of buildings including office, laboratory and industrial structures as well as shell structures suitable for flex and other uses. The property is to be turned over to San Antonio this spring.
The Brooks Development Authority, the San Antonio agency acting for the city, chose Grubb & Ellis in a competition with several other firms. They were BTP Partners, CB Richard Ellis, EG&G and Transwestern Commercial Services.
Ray Barger, Grubb & Ellis vice president and general manager, and Frank Ventura, senior vice president, head the project's transition team. Will Shane, vice president of marketing, and Mark Schwarz, senior managing director in San Antonio, will handle the marketing.
"We'll provide the facilities management services," says John Buttarazzi, director of public-private partnerships at Grubb & Ellis. The firm also will provide the strategic advisory services such as consulting and marketing for development of the property.Buttarazzi tells GlobeSt.com that Grubb & Ellis has office space at the base although it won't formally begin its duties until the property is transferred to the city.
The program is designed to help the Air Force reduce expenses and still fulfill its mission while providing development opportunities for the community. It is eyed as an alternative to base closures.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
