Talcott Realty awarded the leasing assignment for the 533,000-sf building to Transwestern, which already was the building's property manager. Noll-Bakke Commercial Real Estate Services resigned as Bank of America Plaza's leasing agent to concentrate on tenant representation.
Bank of America Plaza at 300 Convent St. is 95% leased, but it will lose a major tenant next spring when SBC Inc. moves out when its lease expires. The telecommunications company is consolidating space in San Antonio.
Transwestern officials look forward to filling the space. "We have some interest that we've generated just recently, so we're optimistic," Martin Down, vice president of owner advisory services in Transwestern's San Antonio office, tells GlobeSt.com. He and Kevin Roberts, executive vice president and city leader of the office, have primary responsibility for leasing the building.
Transwestern's optimism is based on the fact that Bank of America Plaza is one of two class A buildings in downtown San Antonio. The other one, Weston Centre at 112 Pecan St. is 98% leased, according to Down. That leaves the space SBC is vacating as the "only truly class A block of space in San Antonio's CBD," he says.
Bank of America is the biggest tenant with about 150,000 sf. Other tenants include law firms Akin Gump Straus Hauer & Feld, Strasburger & Price and investment firm Salomon Smith Barney Inc.
Talcott bought the building about a year ago and reviewed about six firms before awarding the leasing to Noll-Bakke and the property management to Transwestern. "We did that less than a year ago and didn't feel it was necessary to repeat that exercise in as much that we felt Transwestern, then and now, has a good team," says Les Tager, senior vice president at Talcott.
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