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$2.1M Loan Clears Industrial Buy

SAN ANTONIO-An Austin investor acquires the 39,759-sf University Park Service Center in San Antonio's northwest submarket from Primera Partners. JPMorgan Chase provided the acquisition financing for the fully leased center.

By Tim Green | Updated on February 19, 2003

SAN ANTONIO-University Park Service Center in the northwest submarket has changed hands with financing help from Minneapolis-based NorthMarq Capital.

UPSC Properties LLL, an entity of an Austin investor, bought the property from Primera Partners University Park Ltd. for $2.1 million. The 39,579-sf center, situated on 3.9 acres at 12661-12679 Silicon Dr., is 100% occupied. IPI-GrammTech LLC is the major tenant, leasing about 35% of the center, according to Bart Wilson of San Antonio-based Primera Partners.

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