Watch Omega Sells Three Flex Parks, 541,491 SF

SAN ANTONIO-A Texas-based institutional fund has sold 541,491 sf of flex space to a private capital group from Los Angeles in two separate transactions. The just-sold assets are two industrial parks in Greater San Antonio and one in Oklahoma City.

The buyer plans to make minor upgrades to the 328,412-sf Sentinel Business Center, an 18.5-acre park at 10530-10732 Sentinel Dr., and 137,236-sf Blossom Business Center, a 9.3-acre development at 12005-12095 Starcrest Dr., both in San Antonio. A major renovation is planned for the 75,843-sf Greenfield Service Center, which covers 5.2 acres at 6101-25 W. Reno Ave.

The sales price was not disclosed due to confidentiality agreements, but similar buildings in San Antonio are selling for $40 per sf to $50 per sf, and flex assets in OKC are going for $20 per sf to $30 per sf.