Wednesday, January 7, 2015

HFF closes sale of one of San Antonio’s largest office properties


Highpoint Towers, 8401 and 851 Datapoint Drive, San Antonio, TX


Kelsey A. Roop
AUSTIN, TX – HFF announced it has closed the sale of Highpoint Towers, two 11-story office towers totaling 301,118 square feet adjacent to the south Texas Medical Center in San Antonio, Texas.

                HFF marketed the asset on behalf of the seller, DNA Partners.  The property was purchased for an undisclosed amount. 

                Highpoint Towers is situated on a 13.06-acre site in San Antonio at 8401 and 8515 Datapoint Drive, which is accessible from three major highways:  Interstate 10, Loop 410 and Loop 1604.  

The assets are located in the northwest office submarket adjacent to the South Texas Medical Center, a 900-plus-acre campus with five medically-related institutions, 12 hospitals and one higher education institution. 

The project boasts 360-degree views of the San Antonio skyline and Hill Country atop the highest point in San Antonio.  The new ownership plans extensive renovations to the project, including upgrading the lobbies, exterior aesthetics, elevators and bathrooms.

                The HFF investment sales team representing the seller was led by managing director John Taylor, associate director Kelsey Roop and real estate analysts Patrick McCord and Ryan McBride.

John Taylor
“We are excited that, by selling the last office property in DNA Partner’s portfolio, it will provide them the opportunity to focus on continuing to grow an already well-established ‘pure’ retail portfolio,” Taylor said. 

  “In addition, this is a great opportunity for a new strong office operator to enter the San Antonio market and create significant new value on one of the largest office properties in the market.”   

DNA Partners acquires and manages commercial properties in select markets with strong demographics and economic drivers.  Since its inception in 2002, DNA has purchased more than 1.3 million square feet.  

DNA’s criterion includes high growth markets, below-market rents or expansion potential, strong sales, significant linear frontage for maximum visibility and reasonable potential for capital appreciation through management and leasing opportunities. 

Learn more at www.dnapartners.com.

For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com


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