Falcon Sells Single Tenant Office Building for $18.6 Million
Falcon Real Estate has sold a high quality office building in San Antonio, Texas on behalf of its client, a Latin American investor. The sale of the property closed on March 19, 2013 at a price of $18,600,000. The buyer of the property was SIR Properties. The building is fully leased to Hartford Fire Insurance Company through 2021.
The property, located at 3600 Wiseman Boulevard, consists of a three-story, 99,986 rentable square foot office building situated on 15.49 acres. Built in 2004, the building features high quality office improvements and an exceptional parking ratio of 6.45 vehicles per 1,000 rentable square feet. The property is located 10 miles west of downtown San Antonio in the Westover Hills area.
Falcon had served as the asset manager of this investment since 2005.