KBS Signs 44 KSF Lease With Wells Fargo
The deal increased the Class A office building's occupancy rate to 96 percent.
KBS Realty Advisors has signed a 44,258-square-foot lease at City View, its 221,373-square-foot Class A office building in San Antonio. Partners Real Estate represented both the landlord and the new tenant, Wells Fargo. Avison Young also assisted on behalf of the tenant. The deal brought the 10-story office asset’s occupancy rate to 96 percent.
KBS Realty Advisors is the owner of the property since 2006, when it purchased the building from seller GE Asset Management in a $31 million deal, according to CommercialEdge. The tenant roster also includes Insperity, The Thompson Law Firm, Foresite Commercial Real Estate, Keller Williams and Express Information Systems, the same source reveals.
The new location will be used by multiple Wells Fargo business groups in 2024, while the bank’s Wealth Investment & Management group is scheduled to move in by the end of 2025, said Wells Fargo’s Advisors Managing Director for South Texas, John McCauley, in a prepared statement.
City View is located at 10999 Interstate 10 West and features 17,889-square-foot floor plates, four passenger elevators, 2,100 square feet of retail space and a five-level parking structure with 877 parking spots. Built in 1986, the mid-rise property sits on 8 acres, at the intersection of Interstate 10 and Huebner Road, 8 miles from San Antonio International Airport, 12 miles from downtown San Antonio and 20 miles from Universal City, Texas.
Significant deals in the area
Partners Real Estate’s Partner Lindsey Tucker negotiated on behalf of the landlord. The company’s Partner Steve Garza, together with Avison Young’s Principal Mark McGranahan represented the tenant.
Recent leasing deals in San Antonio include Bridgehead IT’s 15,280-square-foot commitment at Brookhollow Business Center, a 185,000-square-foot office campus. The owner of the three-building property is Worth & Associates. One of the largest leases in the metro’s Northeast submarket in the last 20 years consisted of Spectrum’s 87,597-square-foot renewal and expansion at Crosswinds Business Park’s Building B, owned by Briar Meads Capital. The deal, signed in late 2022, was arranged by Transwestern Real Estate Services.
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