The buyer, Intercontinental Developers Inc., didn't return telephone calls by deadline. The high-profile property at 8000 W. Interstate 10 has been in the hands of Columbus-based Nationwide Life Insurance Co. at least two decades. The Dallas office of Holliday Fenoglio and Fowler LP handled the sale.

Although buyer, seller and brokers weren't available to comment on the deal, local market experts say the asset is considered a strong investment by the industry. "This is a well-located, large office project with great tenants and in very good condition," says Allan Young, managing partner with Stream Realty LP's San Antonio office. The submarket dynamics with rising occupancy and rents translate into "a great investment opportunity for the buyer," he adds.

Ernest Brown and Teresa Corbin, both with Grubb & Ellis Co. in San Antonio, say the 1980s-constructed Forum has always enjoyed the highest occupancy, relative to other A properties in the market, simply because there are so few of them. "San Antonio is not a big class A market," Brown says. "In northwest San Antonio, where this is, you might have three or four class A buildings, which isn't a whole lot."