Stream Realty Partners and Transwestern have brokered the sale of University Park Tech Center III and IV, located at 5800 Farinon Drive and 5959 Northwest Parkway in San Antonio, Texas. Clarion Partners sold the 165,007-square-foot office properties to University Health System (UHS) for an undisclosed sum.
Kevin Cosgrove and Scott Ferguson of Stream facilitated the disposition on behalf of Clarion Partners. Ken Adams and Chad Gunter of Transwestern represented UHS in the transaction.
“We are proud to have assisted Clarion Partners in marketing the properties and fulfilling their disposition strategy in a timely fashion,” said Cosgrove, vice president at Stream. “We believe the appeal of the location and high quality of the buildings further enhanced their desirability, even in these unprecedented and uncertain times.”
Located in the University Park submarket, these two class A, single-story office buildings make up the largest combined office trade in San Antonio during 2020. Despite a global pandemic and little to no building sales occurring, Stream advised Clarion Partners on a transaction that allowed them to execute their investment strategy.
Offering quick access to IH-10 and Loop 1604, University Park consists of 4 million square feet of primarily single-story office buildings and is home to many Fortune 500 occupants, including EY, Becton Dickinson, H-E-B, Accenture, SWBC, United HealthCare, Harland Clarke and WellMed. With a prime location in the heart of this submarket, University Park Tech Center III and IV provide UHS the ability to house their administrative functions outside of much needed clinical space in their numerous area hospitals.