David Ballard of the San Antonio office of Grubb & Ellis Co. represented Business Wire. San Antonio-based Zurich International Properties Inc., the building owner, was represented by Laurence Seiterle.
Business Wire, which disseminates corporate information, moves from about 1,600 sf at 248,153-sf Riverview Towers at 111 Soledad in the CBD. The World Trade Center at 118 Broadway has 92,000 sf. Built in 1911, it was renovated in 1988.
San Antonio's CBD had a 16.1% vacancy rate in the first quarter. The submarket has a total of 4.6 million sf, which is about 21% of the city's overall market. The average rent for class A buildings was $22.87 per sf and $15.62 for class B space. The citywide vacancy rate was 19.6% at the end of the first quarter.
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