1800-1802 Plaza consists of two towers of four and five floors, respectively. The property was 42% occupied at acquisition, while comparable properties are 92%. The buildings’ configuration and floorplans are well suited for a variety of tenant sizes and include covered parking spaces. The location is extremely convenient to two major freeways and just minutes from the San Antonio International Airport. Capital expenditures are estimated to be $1.6M, which includes new elevators, HVACs, exterior, common area interior upgrades, and a new roof for the East Tower. The average rent per square foot was $16 at acquisition while the average for competitors is $20 to $22 per square foot.
1800 Plaza is a Class B asset with two office buildings totaling 109,748 square feet of leasable space. The property is strategically located on the northeast loop of Interstate 410, just minutes from the San Antonio International Airport. The asset offers quick and convenient access to and from key business centers, hotels, preferred retail, entertainment, and dining establishments in the San Antonio metro area.