SAN ANTONIO, TX – Transwestern's San Antonio office today announced it brokered the sale of a free-standing, 10,000-square-foot building located at 9492 Corporate Drive in Schertz, Texas. Built in 2012, the property features Class A-quality construction and is 100 percent leased to national credit tenant Volvo Construction Equipment Rents Inc. Biltmore Construction Management LLC sold the property to a private investor for an undisclosed amount.
“Because of the attractiveness of a national credit tenant with more than nine years remaining on a 10-year lease term, the building was under contract in less than 10 days and closed within 60 days,” said Luis Garza, Transwestern associate who represented the building owner in the transaction. “The property’s strategic location off Interstate 35 in San Antonio’s booming Northeast Industrial submarket offered superior accessibility to an extensive transportation and trade network.”
San Antonio’s industrial market as a whole has seen a 3 percent jump in occupancy since 2010. As a result of the robust improvement in occupancy, the San Antonio industrial market has out-performed most markets across the country over the last 12 months.
Volvo Construction Equipment Rents, a subsidiary of Volvo AB, is a North American construction equipment rental company and serves construction, commercial and industrial markets. The company was founded in 2001 and is based in Asheville, N.C.
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, development, research and sustainability. The fully integrated enterprise leverages operating competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. Transwestern facilitates better decision-making for clients by combining penetrating local market intelligence and macro-market research through its affiliate, Delta Associates. Transwestern has 33 U.S. offices and assists clients through more than 180 offices in 36 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit www.transwestern.net and follow us on Twitter: @Transwestern. Follow Transwestern’s San Antonio office on Twitter: @TranswesternSAT.