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Long-Term Leased Medical Office Building Attracts $2.5M

SAN ANTONIO-A 25,000-sf office building at 2140 Babcock Rd. trades hands. The 10-year leaseholder, Baptist Health System, subleases the entire building near St. Luke's Hospital to others, mostly medical operations.

By Tim Green | Updated on June 23, 2002

SAN ANTONIO-A 25,000-sf medical office building, leased for the long term, in northwest San Antonio has driven a $2.5-million deal between two partnerships.The buyer was JRJAHA Ltd. and the seller, SDR BC Ltd. Carl Bohn of the San Antonio office of the Dallas-based Weitzman Group represented the seller. The buyer did not have a broker.

The building at 2140 Babcock Rd. is leased for 10 years to Baptist Health System, a San Antonio-based health-care services provider. It operates five hospitals in the city. One of them, St. Luke’s Hospital, is close to the newly acquired building. Baptist Health has no operations in the building, but subleases it to other companies.

Situated near Wurzbach Road, the building is on the edge of the University of Texas Health Science Center-San Antonio. Bohn calls the medical market in San Antonio strong. “There’s not a whole lot of product and so much of it is institutionally owned,” Bohn tells GlobeSt.com. “It doesn’t get bought and sold much.”

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