9601 N Us Hwy, San Antonio, TX, 78216, US

McAllister Plaza

Asset description

Jones Lang LaSalle (“JLL”) has been exclusively retained to offer qualified investors the opportunity to purchase McAllister Plaza (the “Building”), a 190,381 SF, twelve-story Class A office building located on US Highway 281, just north of Loop 410. Directly adjacent to the San Antonio International Airport, the Property is positioned in the heart of North Central San Antonio, one of the most desirable submarkets in the City to live, work, and play. Currently 89% occupied, McAllister Plaza presents investors with the unique opportunity to acquire a strong cash flowing office asset with significant room to add value and capitalize on potential upside in one of the most resilient cities in the Nation.

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Attributes

Building area Net

17,704 sm

Occupancy

89.00%

Year built

1982

Land area Net

2.44 ha (24,403 sm)

Number of units

190,567 units

NOI

¥383,532,000

Media

Investment highlights

89% leased building with 3.8 years WALT and diverse tenancy

Substantial value-creation opportunities: via the lease up of the remaining vacancy (20,828 SF), strategic common area / building upgrades to increase rents, and converting all new leases or renewals to a NNN expense structure

Highly visible, irreplaceable location along US Highway 281 offering quick accessibility for tenants and visitors

Above market parking ratio (4.2:1,000 SF) allows for higher-density users

Recently renovated office tower with over $10M of capital investment by current ownership

In large part due to the presence of non-cyclical industries, San Antonio historically fares better than its counterpart cities during recessionary periods