Joe Carroll of the San Antonio office of Grubb & Ellis Co. represented the building owner, Randolph Business Park I LP. Sears did not have a broker.
Sears operates a home siding and windows service business from the office-warehouse facility at 5600 Randolph Blvd. The 139,611-sf Randolph Business Park is situated near the intersection of Interstate 35 and Loop 410.
The northeast submarket is San Antonio's biggest industrial market with more than 24 million sf of the total market's 53 million sf. The northeast submarket's vacancy rate at the end of the first quarter was 13.3%. It has negative absorption of 90,341 sf with 215,941 sf under construction. Rents for warehouse/distribution space averaged $3.74 per sf.
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