Marcus & Millichap Sells $13.7M Medical Office Building in San Antonio, TX

SAN ANTONIO, TX – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of a 57,211-square foot medical center in San Antonio.

The sales price of $13.7 million represents $239 per square foot.

Alex Zylberglait, (middle left photo) an associate vice president investments and associate director of Marcus & Millichap’s National Office and Industrial Properties Group, and Ryan Shaw, an office investments specialist, both in the firm’s Miami office, represented the seller, a locally based medical group, and the buyer, a New York based group.

The Dallas office of Marcus & Millichap provided local representation on this transaction.

“The newly constructed Stoneterra Medical Plaza (top right photo) is situated in an area of San Antonio that has several medical office buildings and is in high demand by local, regional and national investors,” states Zylberglait. “The property has a 100-percent occupancy rate with the majority of the leases in place until 2017. All the tenants have options to renew their triple-net leases.”

“Stoneterra Medical Plaza just received the Medical Office Building of the Year award by the Building Owners and Managers Association (BOMA) for the San Antonio market, and will be competing for regional recognition in Houston.

“This was an excellent opportunity for our buyer to acquire a newly constructed medical office building and benefit from the ease of management,” adds Zylberglait. “We received very strong nationwide interest from all types of investors for this asset.”

Located at 150 E. Stoneterra Blvd., the property is situated near Stone Oak Parkway near North Central Baptist Hospital, Baptist Regional Children’s Center, Methodist Ambulatory Surgery Center, Laurel Ridge Treatment Center, North Central Urgent Care and the Spine Hospital of South Texas.

Stoneterra Medical Plaza is a three-story concrete block building that was developed in 2006.

The building’s major tenant, San Antonio Orthopaedic Group, was established in 1947 for the purpose of providing the highest quality of orthopedic, medical and surgical care to the San Antonio community.

Press Contact: Stacey Corso, Communications Department, (925) 953-1716